October 2011: Business Building

October 2011

Business Building

You Can Stay Small, or Be ‘HUGE’

By George Hedley

Have you noticed that people who think and act “small,” stay small? And, those who think and act “big” are the ones who make it happen? Being “HUGE” is attitude, altitude and active action. It’s getting passed the little things that get in your way and hold you back. It’s being bigger than setbacks and obstacles that paralyze your progress. It’s not blaming your circumstances on the economy, your customers, employees or you’re the market you operate in. It’s making a decision to set your sights higher, grow and do what it takes to make a profit in any economy.

Being HUGE means taking risks, moving forward no matter what, and leaving your comfort zone. It is positive action. It is more than doing the same things over and over. It’s getting excited about the future, looking for opportunities, changing your services, adding more value, finding new customers, doing business differently, and making big things happen.

Focus on profitable revenue. The secret to business success is to create profitable revenue. Getting money from customers is the only way you can make a profit. Your business will only be successful when you have loyal paying customers, and lots of them. An awesome finished project or great service doesn’t matter without customers. Stop relying on your past customers and outdated marketing to keep your phone ringing. Focus at least 33 percent of your time finding and creating new revenue, and invest at least $15,000 or 1 percent to 3 percent of your annual volume in marketing and sales activities.

Help others. The key to creating lots of loyal customers is to help those who need what you offer and have the money to pay what it’s worth. You are not a builder, contractor, architect, supplier or any other type of business. You are a value-added resource who helps customers solve their problems, make money or improve their lives. Do you help your customers? Do they know it and pay you big bucks for your valuable help? What else do your customers need or want that you are not providing?

Learn from others. When you spend time with successful people, you elevate yourself and seek higher levels of success. When you observe the best, you get inspired to be the best. I have enjoyed breakfast every Tuesday morning for 15 years with a group of HUGE guys from different businesses and backgrounds. We challenge each other to do what’s right, make a difference and become better. What are you doing to surround yourself with a group of diverse and successful business leaders who raise your sights and inspire you to do more and be HUGE?

Differentiate or die trying. Lots of different companies do business lots of different ways. Some offer unbelievably great service, while others offer only the minimum. Some do precision, quality work, while others do what’s necessary to get paid. Some charge too much, while others don’t charge enough. There is no set formula or standard way to become successful in business. However, there are sound principles that make some more successful than others. One important factor to secure profitable work is your ability to set yourself apart from your competition. People pay for and remember what is different or unique. Most businesses are not very different from their top 5 competitors. Most good companies strive to provide quality workmanship or service, the same as their competitors. This doesn’t make them different. When you are not different, you only have price to set your company apart. What makes you different? Does your customer think you’re different? Will they pay more for you than your competition?

Get involved. It is impossible to get where you want to go without continuous improvement. You have to grow 10 percent to 20 percent every year, just to stay even. Your local industry association is a great place to discover better ways to do business, seek support, learn form others, watch the pros, get advice, be encouraged, and make friends. Another place to hang out is where your customers go. Show up, get involved, help out on a committee, be visible, get active, and be HUGE. Be a giver, not a taker. Are you involved (really involved) in your industry, your community, and where your customers are active? Make a contribution to your future by getting involved in helping others.

Being HUGE starts with a decision – your decision to make a decision – that you will make it happen. Your future is a blank slate, starting today. Only you are responsible for you. Nothing is in your way, except your decision about your attitude and how you spend your time. Think, act and be HUGE!