Does Your Business Need Some Pruning To Grow Successfully?

During a recent masterminding session I attended via web conference with fellow online solopreneurs, we discussed the topic of ‘Growing Successfully’. We were asked to come up with the analogy of what our business would look like if it were a tree. I immediately envisioned the maple tree in my backyard and its transition over the past dozen or so years in relation to the ongoing stages of growth in my business. Little did I know that I would ever be drawing a comparison between the two.

I clearly remember the skinny maple tree in my backyard that wasn’t much more than a stick coming out of the ground with several low branches. One day I got to thinking that in order to encourage this tree to grow bigger and make room for us to be able to walk or sit under it at some point in the future, I would have to cut off the low hanging branches.

So in response to the question in the web conference room that day I commented that my business has been growing ‘out’ and it looks like a tree that has too many low hanging branches (like my maple once had). I’m reworking things in my business (like the time I carefully pruned several of my maple’s low hanging branches) to grow my business ‘up’ to its full potential (like the majestic maple tree in my yard today).

How about you? Does your business need some pruning? Do you need to remove any low hanging branches to encourage upward growth?

Reaching for the low hanging branches (also known as low hanging fruit) in your business provides you with short term success.

For example, the low hanging branches would be:
-the easiest tasks
-within easy reach
-easier to pick
-easily achievable targets

Removing some low hanging branches forces you to shoot higher and stretch for the bigger goals in your business, providing you with growth and success.

For example, stretching for the higher branches requires:
-effort and skill
-hard work
-more effort and can be more rewarding
-plans to be in place to achieve the targeted results

More effort and time spent pruning and managing the growth your business will result in a much better payoff if you avoid the easiest options. Sometimes we get comfortable with the status quo but like the saying goes “If you do what you’ve always done, you’ll get what you’ve always gotten.”

What have you been putting up with because you’ve become comfortable with the status quo and satisfied with short term success? What’s getting in the way that can be removed in order to shoot for growth and success?

If it’s clients who drain you; let go of them so you can have more energy.

If it’s your discounted or hourly rates; package your services so you can get paid for the value you provide.

If it’s the admin, tech-y and non-income generating tasks; outsource this ‘busy work’ so you can get paid for what you do best.

Are you pruning all the dead wood in your business or is it stunting your growth? Like my majestic maple tree that now provides my family and I with considerable enjoyment all four seasons of the year, your business can provide abundantly for you too.

Choosing the Right Business Broker

Even though owning a business is a public venture, it is a very personal thing to business owners. Owners are the ones that have put in the time, effort, resources, and taken the financial risk to build the company over time.

So, when it comes time to sell, there is no doubt that you want to put your business in a position to maximize its value so you can get the most out of your investment. To do this, many business owners attempt to sell their company themselves. However, even though they are in business and very adept to the business world, the act of selling a business can be a complicated process.

To simplify the process of selling your business, many owners have turned to business brokerages. A business broker can help you effectively position your company so you can get the most out of your investment.

Just like with any other industry, choosing the right business broker is a vital decision. You need to find a brokerage that is the right fit on multiple levels. For this reason, hiring a business broker is not a decision that should be taken lightly. There are a number of important elements that should factor into your decision not only to sell, but to find the right broker to assist your with the sales process of your company.

The following are 5 of the most important considerations you need to think about before signing with a business brokerage:

Confidentiality

Confidentiality is one of the most important elements when it comes to any transaction involving your business, let alone the sale of your company. Confidentially must be kept at every step of the process and it is at the core of developing an effective relationship with a brokerage.

Services that meet your needs

All brokerages are not the same. For that reason alone, you need to take the time to find out if the company offers the services that you need to successful accomplish your goal.

Accurate Valuation

Obviously, as a business owner, you want to get the most value possible out of your business. However, you also need to be realistic about your expectations. Therefore, when considering a business broker, make sure that they assess the value of your business from the buyer’s perspective. This will give you an accurate assessment of what you should realistically expect to get for your business.

The right match between seller and buyer

Selling your business is about not only find a buyer, but also effectively marketing and attractive the right kind of buyer for your business. Even if you are selling your company, business owners want to see the company succeed in the future, even if it is run by someone else.

Experience with your type of business

Understanding about how to effective position your company to maximize returns takes experience. Therefore, you need to find a broker that is not only IBBA certified, but also has experience working with companies of your size in your specific industry. It is this experience that will enable the broker to successfully recruit buyers, negotiation and close a deal all parties are satisfied with.

Consideration In Designing A Great Business Card

Your business card design can say a lot about you or your company. There are many design examples, designs and layouts online for you to check and there is no shortage of well designed templates for you to buy online or get one that has been specifically designed for your company. You may also want to consider some finishes mentioned below with a reputable business card printer.

I’d like to share with you some tips and factors on how to go about selecting the right card for you or your company and some features to consider. Your business card is a working tool for you and should help generate leads and potential clients.

Your colour scheme is very important and you need to design a card that correctly reflects the nature of your business. There is no point having flashy and vibrant colours if you are in the banking industry. You may also have a design on your card such as stripes or squares and its all well and good but you need to get a colour scheme that is suitable. Some card designs draw attention to themselves using colours and the more colours you use, the more attention it will draw and you need to consider the aspect of inappropriate over attention.

Having a minimalistic design such as one which has been designed using a single colour logos and the use of large amounts of white space or single colour background space. This is considered a fantastic way of giving your card a very stylish feel. To add to this them, your logo can be displayed on the front of a card and your contact details on the back to avoid cluttering the design. There are a large number of associated variants for this type of card design all of which serve to keep the design minimalistic.

Having your logo or fonts embossed or raised above the card is a style of finish that gives a very premium effect to your card and elevates your status greatly.In embossed business cards, you can feel the raised effect as you trace your finger over the embossed part of the card.

Adding a QR code is an effective tool in this modern age that allows you to take a photo of the business card using a smartphone. The code in the image will then direct them to your website and serves as a great way to link between your business card and your online presence. Before you print a business card though with a QR code, it is worth considering if this tool is appropriate to your target audience.

Transparent business cards are currently trending in advertising and media and they are made of plastic or acrylic and are much more durable than ordinary paper based business cards

Die cut or unusually shaped business cards are custom made and tend to impress your clients more than standard rectangular cards. Be careful though because if the size is non standard, your they could end up in the bin as they don’t fit into a standard business card holder or pocket.

Typefaces or fonts should be used intelligently as they can give the wrong or right impression. There are thousands to choose from and one of the most important aspects is to select one that is legible and not too designer of difficult to read.