2019 will be no different than previous years if you do not manage your time and redirect your focus on things that are truly important. As an entrepreneur who wants to build a profitable brand, how do you know what to focus on and what to let go? The answer is not set in stone, however, in this article, I share 5 things you should focus on if you want to build a profitable brand in 2019.
Focus on Your WHY
The number one thing that determines whether a business will stand the test of time is the “WHY?” Your “why” is the reason you started your business and ideally, it should be your driving force. However, if you are not deep-rooted in your “why”, it is very easy to fall off the tracks and start chasing shadows. As a business strategist and coach, I have found many instances in which business owners have completely forgotten their “why” and are daily focusing their attention on things that do not matter. For example, I have seen many entrepreneurs who worry so much about their competitors such that they completely forget why they are in business.
If you want to build a profitable brand, you must never lose the sight of your “why” so you can always stay on track.
Focus on Building Strategic Relationships
As a business owner who desires to build a profitable brand, building strategic relationships must be in the core of your focus. The success of your business rises and falls on the quality of the relationships you build over time. How do you build strategic relationships? You start by showing genuine interest in people and brainstorm on ways in which you can be of help. For example, when you attend networking events, do not let your conversation be centered around what others can do for you, let it be centered around what you can do for them. Offering to help is a powerful relationship-building technique that can help you and your business go from barely surviving to greatly thriving in no time.
Focus on Learning
One of my best quotes about learning is “if you are too big to learn, you are too small to earn.”
What you know has a direct influence on how much you earn. I have met many business owners who either show apathy toward learning or show no interest in updating their knowledge. If you truly want to build a profitable brand in 2019, you must focus your attention on learning as much as you can. Learn everything about the products (goods/services) you sell and the people you serve and watch how big of a difference these will make in your business.
Focus on Providing Exceptional Customer Service
Any business that lacks loyal customers will find out sooner or later that it is a bird without wings. What is the beauty in a bird without wings? The answer is, nothing! One way to gain loyal customers in a crowded marketplace is by providing exceptional customer service. Providing an exceptional customer service can be time-consuming but if you focus on it, it will yield unquantifiable returns for you and your business.
Focus on Active Listening
One of the reasons why 70% of all small business fails within one year of start is because the owner lacks “listening skills.” If your goal is to build a profitable brand in 2019, you must focus on listening actively. Who should you listen to? You listen to your customers, employees or team members, coaches or mentors and even your peers. Active listening is a requirement for success. Active listening means that you listen to what others have to say with an open heart. It also means letting go of unconscious bias and giving others the opportunity to share with you from their perspective. Active listening is such a powerful technique that lets you hear not only what is being said, but more importantly what is not being said. It helps you with your strategy and simply positions you for success. Start practicing active listening today and watch your brand grow profitably!
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