Create your Future – 5 Important Steps

July 21, 2012 · Posted in Business · Comment 

Or is the future a place to which you are just going?

There is no doubt that in difficult times some people sharpen their wits, and think more constructively. They have to, if they are to survive. And it probably accounts for the reason many fortunes commenced in the Great Depression of the 1920s and ’30s. Similar successes have arisen out of other and more recent economic downturns.

So where will this leave you in these current economic conditions?

Your personal views of the future will change when you make your own luck and in doing so you will change your own capabilities and skills. Luck is something you make for yourself.

Challenges bring opportunities, opportunities to create your own future. Alternatively you can be lead into another person’s future, and accept the inevitable consequences. And the challenges you will face in the year ahead are without doubt much greater than you are likely to have faced as yet in your own lifetime.

Create your own future with these five steps.

1. Fix your attention on your key customers

Who are your key customers? They are those customers in market niches which provide the majority of your profits.

Key customers will be buying from you more frequently and in larger amounts than other customers. They do so because you meet their needs; solve whatever business, personal, emotional problems they have. They trust you and believe they have developed a relationship with you.

So in difficult times you will seek to ensure that your competitors do not do not win these customers, preserving your relationship by nurturing and protecting them.

2. Prime Plan B

Despite fixing your attention on your key customers you could still be bought down if their business or industry is negatively affected by negative economic conditions. Just relying on those customers coming through the door may not be good enough.

The steady stream of key customers may slow right down if adverse economic conditions have a negative effect on their industry or business.

So have Plan B primed to go.

The essence of Plan B to to have already determined other markets that are either doing well, or are likely to do well, and identified the prospective clients in those markets. Secondly you should have established how you are going to secure them.

3. Master your business

You will be both able to nurture your key customers and know how to service Plan B customers if you master your business.

You will go a long way to protect and improve your position in difficult time if you do everything in its proper time supported by data and a little thought and analysis.

The decisions you make will better and more productive when supported by some facts and data.

4. Make certain your marketing is effective

Ineffectual marketing wastes both your time and your money. Sales are the only justification for your marketing. If sales are not being achieved by your marketing then it has cost you both for no gain. Yet another profit leak.

Shotgun promotions are not the right approach in difficult time. The promotional media you use should be targeting your key customers, and bot every Jane, Jock and Joe in the population.

Ensure your sales message attracts and keeps your prospective customer’s attention, and then leads him to take action.

5. Build your systems and procedures

All really excellent businesses have more than scraps of paper to thrust at new employees saying “This is how we do this”. They have good systems and procedures, properly documented, well laid out and readily available.

If you have been in business for a few years the chances are that you have developed reliable procedures. But it is just as likely that you haven’t formalized them.

Documenting your procedures ensures that you make fewer mistakes which have to be recovered.

You will develop your own future, changing both yourself and your destination in the process when you take take these five steps.

Want to find out more about creating your future, then visit Adam Gordon, Profits Leak Detective’s site to obtain a free copy of his 7 Clues to a Profit Leak for some useful tips on identifying profit leaks in your business.