The Formula of Success

There are 3 types of work to be done in
every business. “The Thinking, the Managing, and the
Doing”. If you fail in any of these, you will fail the
business to survive or to expand.

Thinking:

This type of work is when you write a
business plan, strategize to expand your business, or work
on new marketing ideas or competition plans for a new
market.

Requirements to do this type of work
are as follows:

Logical thinking

Analytical thinking

Research ability

Market study

Finance management and budgeting

Vision

Planning and execution skills

Managing:

You get into managing when you have
someone else working under your supervision. The more
employees you have, the more complex this type of work will
get.

Qualities needed to do this type of
work are as follows:

Critical Thinking

Strong communication skills

Motivational skills

Co-ordination and multi tasking
abilities

Organizational skills

Doing:

This type of work requires you to be in
the front line. You are the face of the operation. You are
the one who gets the job done everyday. Operations without
you will fail.

Qualities needed to do this type of
work are as follows:

Positive thinking

Reliability

Repetitive work

Team work ability

Focus on given tasks

The point that I am trying to make is
that every business should have enough resources to cover
all 3 positions at all times. When a business fails to
cover for any of the above positions, they will reduce their
chance to survive or expand in their industry. For those of
you who are interested in improving your business, I have
created this formula based on my own experience. I hope it
can help you to take your business to the next level. Look
at the formula of success and see if you are currently doing
the same!

The Formula of success:

Systemizing for Cookie Cutting!

You have probably heard the term ‘cookie cutting’ before! What it really means is repeating your success.

A lot of businesses don’t know exactly how they need to do this!

How do you get a customer, and then how do you get thousands of them? How do you save one customer from quitting and then how do you turn that into a system so you can stop future customers from quitting?

It sounds really easy when you think about it, doesn’t it? First you try to do it once, and then you do the same thing 1000 times! The biggest problem small businesses have today is not the fact they don’t know how to run their businesses, but the fact they don’t know how to expand on what they already know! Growth could only come with systemization. How do you systemize what you know? How do you systemize what you do, so you can succeed in achieving more?

There are three rules in systemization that you would need to follow.

1. Job Processes: Write down how you do a job
2. Application Tools: Have a tool that employees can use to do a part or full portion of your job through organized steps
3. Stats: Watch the stats to see if others are doing your job as good as yourself

Again, it sounds easy but in reality taking these 3 steps could take some people a lifetime to figure out. Some people don’t know how to do the first step, where to break down the job in easy steps so that others can get it done. Here are some tips on how to do the first step.

Job Process

1. Break down the process into smaller, easier, more idiot-proof steps
2. Make sure you can measure the success of each stage of your process
3. Create detailed training materials on exactly how others are supposed to do this job

There are consulting companies out there, like Accenture, who help businesses by studying their processes and then find the right tools and business applications for them. These companies charge businesses hundreds to millions of dollars to help them find and implement new tools, so they can be systemized and profitable. Buying the tools is not enough if you do not know how you are going to implement them in a customized way for your business and processes. Sometimes a tool doesn’t fit your processes or your processes are not organized to fit an already available application. So here are some tips on how to implement a tool for your business processes.

Application Tools
1. Your application must be flexible
2. Your application must have built in proven processes so you can use it for your business
3. Implementation takes time! Be patient, systemization is the key in winning the cookie cutter methodology
4. Your tools must be re-evaluated and change as your business grows. If your processes change regularly in a growing business, so should your tools or business applications

It’s one thing having stats, it’s another having the ability to analyze your stats! Many employees could not make the right decisions, because of a lack of training or experience. When an owner does a job, they do it well, because they know their products best and they have experience selling or maintaining their customer base. But given the same job an employee may not produce the same result because of the lack of knowledge or training. You can not cookie cut if you have the best process and tools, but are not able to stop employees misjudging early on in your processes. Here are some simple tips on how to read your stats:

Stats
1. Your stats must show you the success of every stage of a process
2. Stats must measure the success of employees who are working on those processes
3. As you are looking at a report, try to find what the report is translating to! Is it telling you something about your employees, or something about the process that is or is not working? Most reports should translate into: what are the concerns, what are the actions you must take next, and who are the people you need to work with to improve the stats

So let me give you an example of how to start this cookie cutting from beginning to end with these 3 simple rules. Since most businesses deal with leads, I am going to use the example of converting a lead to a customer.

Process called Lead Conversion
This process is made of 5 stages. If you’re doing it by yourself, you can easily see if you are doing it well or not, but since you are cookie cutting this process, it can be done by more than one person to handle its volumes and proper follow up.

Job Process
Gathering leads →→ Emailing Leads →→ Contacting Leads →→ giving Leads incentive to buy →→ converting Leads to customers

Tools
Any software that can manage this process must have the ability to give you stats on whether a lead was taken from the beginning to the end of this process and then give you stats on the success of the people who were supposed to do this job.



Stats
We started with 100 leads and ended up with 5 customers. Maybe if we double our number of leads, we could also double the number of our customers!! Could we have ended up with more customers if the employees who were supposed to email the leads would have done their job? Did we have enough employees on stage 3, or should we hire more? Maybe we should change our incentives or give no incentives if the stage 4 has very little or no impact in this process.

Do you see how I analyzed this report? A statistic is talking to you, and you must be able to look at a report and have the ability to translate it. If you don’t have that ability, you definitely need to read my next weeks’ blog where I talk about where you fit within an organization and how you could change that if you wish to!

My next blog is called “The Thinkers, The Coordinators and the Doers”.

The Secret of Becoming Rich

Getting rich is not all about having lots of money, but having a fulfilled life. We all know that human nature is to desire more. More money, more love, more vacation, more friends, more fun and more and more….we are built to always desire more, even when we get all the things that we already wished for! Desiring more in life is the reason behind human's advancement by giving us more drive to achieve more, but it can also be the reason behind poor achievement and unhappiness!

The secret of becoming rich is learning how to desire more while keeping the balance of appreciating what you have. It sounds easy, but most people have a hard time following this simple life lesson.

We are trained to think only about what we don’t have and forget about things we already have. Our society, our family, schools and people around us only encourage achievements but never teach us how to be thankful for what we have already achieved. We forget about things we already have unless something major happens to us to remind us of them. When you get sick, you appreciate your health. When you live in a cold place, you wish you lived somewhere hot! When you have money, you waste it on things that are not so important until you lose it all. When you have a loved one, you don’t appreciate them until you lose them. When you have a good job, you look for a better job.

What if you could get rich by practicing daily to appreciate your life no matter what?

Every day from the time you wake up to the time you go to bed, find 3 things that you could be thankful for! Yes that is the secret behind becoming rich. It’s simple but yet if you start it tomorrow, it’s possible that you will forget to do it by the end of the week. I started a new subject in this blog called "To Be Thankful For!" You can come here any day and write 3 things that you are thankful for. It could be anything, even something small. For example, it could be the fact you are healthy and live in a great neighborhood. It could be that you own a car to drive around in, or that you don’t live in a violent country in one of the most troubled areas of the world, and so on and so on…

Share what you are thankful for everyday for the next 7 days, maybe others can learn from reading your positive thoughts that you don’t need to have money to be rich. Most successful people in this world have this great quality, and you could have it too! Share what makes you rich everyday!

Click here to write what you are Thankful for Today

Thankful For Today

Share what you are thankful for every day for the next 7 days, so others can learn from reading your positive thoughts that you don’t need to have money to be rich.

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