Acting Like the CEO in Your Business?
(This post is written with humor and fact. You decide which is which.)
Are you running your VA business as a business? Most of us would answer ‘yes’ to this question right away. If you’re NOT you should ask yourself why you aren’t. Aren’t you the CEO?
We get up every morning and we do our client work. We bill our clients once a month usually, sometimes they pay for their service up front.
But that’s not the whole scope of actually running a business. (It’s not?)
It’s a big part of it, of course, but there is much more.
So How Do YOU Act Like a CEO?
Whether your only income is coming from your VA business, or you are working a job and launching or running your VA business part-time, are you devoting your full attention to the details of building a successful business? (I can hear you mumbling under your breath!)
Do you have a daily plan of action that helps you move your business in a profitable direction? Or do you just get up every day and do client work?
A business mentor or consultant might call a business that you are not giving your full attention to, a hobby. (I can’t believe she just said that out loud!!)
It’s not fun to hear, but it might be the truth. Is it true for you? hummmm?
When you seek help to build or grow your business, the first thing your mentor will do is take a quick assessment of your mindset as the owner of your VA business.
If you don’t have the right mindset, no amount of planning or grunt work you do will help you find success. (But I want to be a success!)
Get Into Your Groove
Consider these questions right here:
- Do you know exactly how much money your business is bringing in each month?
- Do you know how much money is going out each month?
- Do you have a business plan and/or marketing plan?
- How many clients do you have, and do you have a pipeline of prospects?
These are some of the things that are important to consider right out of the gate. If you don’t know the answers to these questions, then you aren’t acting like a business owner. (OH NO, how did SHE get into MY head?)
Keep in mind at this mindset stage that the actual pieces of these questions are not the important part – it’s the assessment of where your mindset is that is key here. I call it putting on your CEO hat.
Answer those questions honestly and you’ll know if you have the right frame of mind right now.
Do you need to make adjustments to how you are thinking about your business? Because NOW is the time!
Here are a few tips to help:
Approach each day as the person who makes the decisions in your business. To think like a business owner, you have to think about your decision making. Everything is a decision. (You’ve got that right sister!)
Be confident in the decisions that you make. No one knows your business like you do. Weigh your options and then make a choice. (OH NO I have to make a choice?)
Don’t worry about making mistakes. (Do I make mistakes?) As long as you are monitoring the decisions you make, and ensuring things are going in the direction you had planned, you are doing fine. (OKAY)
It’s Called Pivoting
Change course when necessary. If something doesn’t go as planned, identify why that is, and then change direction to keep your goal or strategy on track. (You know this is easier said than done right?)
Think about driving from your house to the mall. If you use a driving app like I often do, you can see where there is congested traffic ahead, and you can change your route so that you don’t get stuck in the traffic. (So easy for YOU to say!)
Your business is the same. Keeping an eye on things daily helps you to avoid the big problems. (Because BIG problems are exactly what I don’t want!)
Let’s Talk Money
When you see that you aren’t going to have enough revenue in any given period, you must make it a priority to go out and find a new client. (Oh geez, why can’t it just be easy!!)
When you see that your expenses are getting out of hand, you must analyze them and do what you can to keep as much money as possible. (Yes, because I’d rather spend MY money on new clothes! LOL)
You will always need new clients at some point, so recognize that a pipeline is essential to the longevity of your business. (What is this pipeline you’re talking about? I don’t need oil! LOL)
Doing the client work is just a part of your business. If you only focus on that, you will lose the most important piece of being able to shape your business the way you dreamed.
Put that CEO hat on and you will start to see more success and pretty quick too.
Ok, so the point of this article is for you to see that you really need to up your game. You need a plan of action as well as the desire to have a business. You need to be the CEO of your business.
Need help with that? Contact me, yes you should really do that, and let me help guide you into that role of CEO. I have a super great deal for you where you can show up and get all the support you need.
Come on…it’s not THAT hard!