Running a small business requires a lot of time and energy and often, planning for the future, isn’t a priority on the daily to-do list. However, growth and success start with taking the time to think through your processes and operations to make better business decisions in order to benefit your company for the short and long-term.
Whittle down major decisions
One of the best ways to make better business decisions is by splitting them up into a smaller series of steps. Though often you must make quick business decisions, try to take time to think through all of your options. How much will a decision cost you today? What will your return be now and in the future?
Brainstorm new growth opportunities and various ways of running your business, putting serious thought into all of your ideas. Once you have a large list, whittle it down to your more feasible options and from there decide on your best course of action.
Focus on proactive, strategic decision-making
Proactive decision makers think at least 90 days in advance. At this stage of thinking, you know your cash flow and where you will be 90 days from now, as well as the plan for how to get there. You anticipate problems and issues before they reach you, allowing you to deal with obstacles and to control mistakes before they occur.
Then move beyond proactive decision-making and into strategy; think about the impact your business is making and create the basis for the future of your company. Appreciate how far you have come and where you plan to go.
Anticipate long-term risk
As a small business owner, your goal is to stay profitable and relevant; perhaps you’re not even considering the future because you lack the time to do so. However, failing to anticipate long-term risk, or uncertainty, could cause you trouble down the road. Think of the long-term risks to your business and industry and evaluate these alongside your short-term risks. Take time to anticipate challenges now and reap the benefits later. Measure and monitor business risk and mitigate it where possible.
Small business owners are busy, but desperately need the time to think through their decisions. Enter Vaspian, combining the power of the business phone with the Internet to offer reliable, powerful, and affordable communications solutions that grow with your business.
Call us at 855-827-7426 today to start enjoying calling, messaging, conferencing, faxing, and Internet under one provider, saving you the time you need to focus on making better business decisions.