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3 Keys to Boost your Business

If you want to know which are the 3 Keys to potentiate your business, continue reading this post and we will explain how they work and how to apply them effectively.

Control your expenses

Expenses are a fundamental part of your business, but many times it becomes difficult to have control over them, and prevent them from diminishing the profits that are generated in your company.

The main thing is that you identify which are the essential expenses, such as rent, the cost of raw materials, payroll payments and services such as electricity, water or the internet. Once identified, you can move on to those expenses that are made occasionally and that do not represent a fundamental part of your business. Ask yourself if these expenses are really necessary, or can they be made with some other company where the costs are cheaper and it is not detrimental to your company.

Always have all the tickets and invoices generated, indicating what type of expense it is; to have better control in case there are unnecessary or superfluous expenses and can be reduced more easily if possible.

Manage your time

People who are productive tend to manage their time very well, this makes them achieve more and better results in less time. When you have a business it is not the exception, in fact it is even more important that schedules are established and that the dates that are important for the company are specified.

A good way to manage your time is:

a) Making a list taking into account which are the tasks that require a large part of your attention and which are the ones that can be carried out more quickly. Establish the time each one will take place.

b) Focusing and concentrating on the task or activity you are doing, so as not to be distracted or postpone its completion. Paying your full attention will prevent you from making a mistake.

c) Organize all the information you need from your business in an orderly and easy-to-find manner; so that if you need it, you don't spend time looking for it, so that performing different tasks can be done more dynamically and quickly.

Have clear goals

Achieving a goal as a business owner is something rewarding and will always be taken as a good indicator that everything is working well, but what happens when your goal is far above reality? In If you do not achieve it, it will only generate frustration and a negative feeling not being able to do it. What can be detrimental to the constant development and growth of your business. That is why here we will show you the SMART method that will help you establish clear and real goals for your company.

Método SMART

Specific:

Set a goal that is specific, do not seek to cover more than one goal at a time; because you will end up diverting your attention between several goals and in the end it will be more difficult to achieve just one. In addition to that you must detail exactly how you want to achieve that objective avoiding being ambiguous, and giving details of what you want to improve, what work area will be in charge of carrying it out and what the expected results should be according to your business capacity.

Measurable:

The progress of an objective must be measured, when writing our goal we must answer the quantifiable questions, that is, how will we know when the objective or goal has been met? Be specific with the numbers; for example, avoid statements like: "increase sales" and change this to "increase sales by 20% to a younger audience."

Achievable:

Goals continually tend to be put above reality, but when defining an objective it must be possible to achieve and feasible according to your business. An achievable goal should answer the following questions:

How can that goal be achieved?

How possible is it to achieve it?

Do we have the necessary elements to achieve that goal?

Relevant:

The objective set for your business must be relevant in relation to the business strategy you want to take, for this you must ask yourself Why is it important for the company to achieve that goal?

Time:

It is important that a deadline be established to achieve your goal, having an idea of the time it will take to complete it, will allow us to develop a timeline specifying steps that must be followed to achieve that goal.

A work plan must be established, specifying what must be done each day to reach the desired objective.

When you reach the deadline, you will be able to evaluate if the objectives you set were achieved, and also analyze if the way it was carried out was the best or there were things that could be improved to set future goals and give your business greater performance.

With these 3 keys to potentiate your business, you will have better tools to meet your goals. If you are looking to invest, remember that you can do it with Te Creemos.