Running a business is a rollercoaster.
Heck, it’s a rollercoaster ride going off its track.
And if you don’t have the right direction and intent, your business might be as good as dead.
So right now, if you’re running a business and executing decisions with little to no intent, it’s not too late for you to learn these important skills.
Because in this episode of the Garlic Marketing Show, Ryan Tansom, the Co-Founder of Arkona LLC, teaches us the art of running a business with intent, helping you build a stable, predictable, and transferable cash flow.
As you read through, you will learn the following:
- Importance of having a destination
- Why marketing is beyond being creative
- Properly investing to increase the value of your business
Before we proceed, don’t forget that this episode is brought to you by videocasestory.com. Click here if you need help collecting, crafting, and delivering customer stories.
YOU NEED TO HAVE A POINT B
Imagine walking for miles without a specific destination.
It’s exhausting having to move forever without a goal in mind.
For all you know, you might be running in circles.
And since you don’t have a clue about your destination, you can’t notice any progress.
The same applies to running a business.
You need a point B to understand what kind of progress you’re making.
“There’s a certain degree of headaches that come around with building a big business, right? If you don’t have that path, that timeline, or whatever, then it might be a choice to say, ‘Hey, let’s just solve for how much money we can take out of this thing.’
We call it point B because it’s like: how can you be intentional if you don’t know where the heck you’re going?”
So create a target and you’ll be on your way to building a successful business.
PAYING ATTENTION TO THE NUMBERS GAME
Whether you like it or not, running a business is a numbers game.
YOU NEED TO BE PROFITABLE.
For whatever action you take, you need to make sure that it brings back money.
That is why it takes careful planning and decision-making to ensure a successful business.
Take marketing for example:
Would you invest marketing funds in a marketing method that doesn’t work?
If you run a business that focuses on B2B, would you waste time and resources to market to everyday people?
I think not.
IT HAS TO MAKE POSITIVE RETURNS.
“There’s a lot of bad marketing ideas coming from the office equipment industry. People will just go get a sports team to service their copiers and service them at a loss so they can have their name on the billboards.”
It doesn’t matter what actions you take. If you’re paying good money to get yourself on billboards that your ideal customers won’t even see, take my advice and SPEND THAT MONEY ELSEWHERE, where you could actually see positive returns.
SETTING PRIORITIES STRAIGHT
Do you want to grow your business value, but you don’t want to put in the money to make its value grow?
Apparently, a lot of business owners are guilty of this.
Sometimes it can be scary to let out some cash that benefits the business and grows its value.
But many of us just want to get as much profit from our businesses.
Is maximizing profit wrong? NO.
But if your goal is to grow the value of your business, you need to invest in its growth.
Otherwise, putting a BIG price tag on your business wouldn’t be reasonable.
Look. I get it. It’s easier said than done.
But Ryan IS right. And if you want to grow the value of your business, your need to pay attention to these 3 keys throughout your journey.
Did you get to learn something from this episode?
Watch the full episode now, and make sure to leave any questions or comments you have about the episode.
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