No one said that this entrepreneurial journey was going to be easy. Although there are plenty of tips and assistance you can acquire along the way, there is no map that can ensure 100 percent accuracy for your unique mission.
If you would, please gather your things and turn on your GPS (Goals to Promise Success) system. You’ll surely need it to get through Loops: The Seven Keys to Small Business Success by Mike Chaet, Ph.D.
As I read the book, I came across a lot of key tools that were hidden between the lines. Upon identifying many of them, I had several “Ah-Ha” moments. One of those moments was the development of the “GPS” acronym that transpired after just reading the second chapter.
A second “Ah-Ha” moment was identifying the “how-to” points to get through “Trip Entrepreneurship.” The “How-To points,” also known as the Seven Essential Loops, consist of the following:
2. Building a Winning Culture
3. Monitoring the Fundamentals
4. Standardize Every Major Process
6. Live in the Real World
7. Lead by Example
Sure there is a lot to take in, however, each has their own message that can certainly be utilized. Once you have developed your product or service, you then must get to know your consumer.
When you become fully confident with your product or service, then strive to become confident in your customers’ experiences. Get to know the people that you are providing services for. Guaranteeing customer retention is more important than mediocre customer service.
Now that you have secured a plan to keep your customers coming back, you must enhance the median between your products and customers. The quality of the people you hire is an important factor in the success of your business.
Employees create a winning culture that consists of building the company, a brand and a reputation. Creating a winning or memorable moment for the customers each and every time they need your service, will both heighten your reputation and your revenue.
Every business has to monitor its fundamentals, which are to establish a sense of direction, set goals, designate responsibilities, measure accomplishments and track the progress of product sales and revenue.
What happens when you miss your turn or go the wrong way on the freeway? You instantly become creative and innovate a way to get back on the route you were originally on.
Innovation is a big part of the longevity of your company; there might always be a need to switch up your plans and or think of a way to get out of a tight spot. The real world shows us that nothing is perfect and something can always go wrong.
Plan for the unexpected is a major tool to have in your “Business Survival kit”. Adding these “How-to’s” can enable you with resources to get through loops of your entrepreneurial journey and will insure a smoother ride. Set a foundation for your company and watch it achieve the ultimate success that you see down the road.
Lead by example and bring all of your passengers along for the ride of a lifetime.