Your Businesses Core Fundamentals Video Transcription:
Thomas Green here with Ethical Marketing Service. Today I would like to talk to you about what I refer to as core fundamentals. These are internal to your business, so not something like a mission statement that you would share. It’s 5-10 things that you are going to focus on for the success or design of your business.
The reason this is a useful exercise is… In any business there are a significantly large number of moving parts. Day to day tasks that need your attention. These core fundamentals are what you are going to focus on that drive your business.
If you reflect on this, you will most likely find that within your business, there are a handful of things that determine success. I am sure there are dozens of daily things that need to be taken care of. But we are looking for a few things which if you are excellent at them. It’s going to exponentially grow the business. If they don’t get paid attention to, might be damaging to the future of it.
Once you have those few things, you can determine what activities contribute the most to them. You can add them to the list of core fundamentals that you are going to focus most of your time on.
An example might be good for the sake of clarity. So if you are not aware Ethical Marketing Service is a digital marketing agency. When I reflected on the most important parts of my business. The high level ones are, getting large amounts of new business and retaining existing clients for years at a time. Based on those two main things, I can ask the questions… What activities are going to have the biggest impact on getting new business?What do we need to do in order to retain clients for years at a time?
So our core fundamentals are:
- Always have one person who’s main activity is focusing on sales and marketing.
- Measure leads and sales volumes as measurement improves performance.
- Have as many ways to get new clients as possible. If one source of new clients stops, the other ones can be relied upon. This also means you are always looking for new ways.
- Hire intelligent, determined people. Things change quickly in the digital world. So you need intelligent people to keep up with trends and do excellent work.
- Update clients regularly with what we are doing and what we intend to do next. If clients can see we are working hard on their marketing and have a plan for improvement. Reasonable people tend to be happy with that.
Those are our core fundamentals and if we do those well and focus on them. The business will grow and be a success. So in this partial downtime that we are all having, why don’t you create the core fundamentals for your business? and let me know how you get on. I do reply to comments and emails. So send them over and I will give you some feedback if you want me to.