SET YOUR 2006 BUSINESS GOALS
C.J. Hayden, MCC (as interviewed by Kevin Orfield)
1. Do what you enjoy. After
all, you own the business, so you get to decide what to do. "Many businesses flounder because
owners force themselves to do work they really don't care for or are working with clients they
don't like," said C.J. Hayden, author of Get Clients Now! "That's when everything becomes
a struggle."
Don't be afraid to enter new
territory or to let go of clients that you find difficult to work with. Seek out the work and
clients you had in mind when you started the business. Customers take notice when you are
enthusiastic about what you are doing.
2. Develop a business plan with
specific goals. Most small business owners have a vision of where they want their business to go.
But few create business or strategic plans that include actionable goals, complete with specific
tasks and deadlines.
"Your goals need to be more than
some vague statement about, for example, getting more exposure in the local media," Hayden said.
"Break your goals down into small, multiple steps. Set a specific goal of, say, appearing in the
local media at least once per quarter, with action steps of releasing a press release, writing a
letter to the editor and cultivating relationships with local reporters by certain dates."
Once you've created your plan, don't
file it away. Share it with your employees so that everyone knows their individual objectives and
how they relate to the plan. Review your plan on a monthly or quarterly basis to make sure you
achieve your goals.
3. Use a financial model for
your business. Setting a goal for your desired income is important, but you need to know how you
actually are going to get there. "If you don't sit down and crunch the numbers, you are setting
yourself up for failure," Hayden said.
Create a financial model of your
business to help you determine the hourly rate, the number of clients and the number of billable
hours it will take to make it happen. And don't overestimate the number of hours you are capable
of billing.
The average number of hours billed
by corporate consultants is 22 hours per week, according to Hayden. For some small businesses,
that number can be even smaller -- from 10 to 12 hours per week -- in which case you must make sure
your hourly rate is high enough and you do more marketing to ensure a steady stream of clients.
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