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The Supreme Focus of Small Business Owners Is Setting Priorities

August 9, 2012

Slowness is prevalent. Mismanagement is rife. Insight takes too long.

Yes, the list of problems that small business owners face is killer long and full of grey areas where they can or cannot control outcomes.

setting priorities will make you move ahead
Setting priorities will make your business move forward at an incredible speed and leave the others in a blur.

But there is one area above all that small business owners do have the power, and that is prioritizing what comes first and pursuing that zealously without letup.

If you want to implement your killer ideas, you need to know what is your number one priority. You need to focus all your energy and drive around doing that one thing.

When that first priority is accomplished, you can then take stock of what is next in priority, and move ahead on that goal.

Here at Plus Funding Group, we know that cash flow which is unreliable and scant can become a choke point. Your firm cannot grow in the way it needs to, given the investment on hand. That may mean you are on a monthly contract to purchase inputs instead of being on the warpath to make a large acquisition that you spy. Or, it could dictate that you are waiting to cement an alliance partnership, because you can’t come up with the capital required to execute.

We see the need for prioritization in our personal lives as well. I’ve heard of a guy who was incredibly down on his luck, and in addition to not being able to pony up with his car payments, his household bills, et cetera, he was also living without heat since his boiler broke down. He didn’t know what to do first, but his friend kept telling him, “Jerry, fix the heat. Its the heat.”

That short and pungent message became his mantra.

In other words, first thing is to fix the heat. Set a laser beam focus on the thing that is most urgent, and in his case, heat was the self-evident priority.

And after that, you can move down the list.

Take this lesson and apply it to your business. Whatever goals you have set for your company need to be seen in descending order, ranked from the very first goal down to the last. And then get on the stick with the activities that will bring that first goal closer.

If it is a shop-worn product that needs updating, light the fire under your product development team and incentivize them to perform. If it is a data center that is holding you back, move to the cloud. If it is a cash flow squeeze, factor your receivables.

That is why they call you a professional. You know what you have to do, so do it.

Photo courtesy of Creative Commons 2.0, Express_Monorail.

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