What is the one thing you’re going to do this year to increase the value of your company?
The obvious answer is to increase sales, which should increase profits. But how? A new product line or product line extension? A new market? Those are the simple, easy macroscopic answers, and don’t fit the bill.
We’re looking for something more granular, easier to accomplish and more in your control. Something like:
Blog: Writing a blog every week or every month. Commit to a schedule and keep it. The next step is to create a mailing list, but we said one thing.
Tweet: What about tweeting? Or following more people? Or commenting on other peoples’ blogs. Listening to podcasts, attending industry events, volunteering in industry associations to get more exposure. A lot of what an entrepreneur does is take advantage of it.
Phone: Old tech. One of the hardest things to do is pick up the phone. Plan those phone calls. What are you going to ask for. A meeting? And what are you going to bring to that meeting to add value and make it worth that person’s time and your time? Outreach, outreach and outreach. You don’t have time? You don’t have an option if you want to maintain your business, let alone grow it.
Exercise: As long as you’re making New Year’s resolutions, here’s another one that will add value to your business: Keep in shape. The simplest thing to do is to walk. Each day, walk one mile, two miles, three miles. Whatever. Staying in physical shape adds to your energy, and enables you to physically keep on going. Something as simple as walking also has the effect of increasing your free form thinking.
Competitor Information: Who are your publicly owned competitors? Do you listen to their earnings conference calls? Go to www.earnings.com and put their conference calls on your calendar. Do you read their SEC filings and press releases?
What I’m asking for is incremental change. Incremental impact. You don’t have the time, energy or ability to make hard right turns. (And hard right turns have low success rates.) But you can make one to five degree changes in direction. Anything that will help in the effort to keep your business, and perspective, fresh and up-to-date.
Let me repeat: One thing.
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