Branding, funding, and financial modeling are three important—and very interconnected—functions that help take your business to the next level of success. If you want to go big, it’s critical to understand what these three things, taken separately and together, mean for the growth of your company.
Crystallize Your Vision
Recently I began working with a client who is an amazing leader in her market space, but part of her strategy was missing and this was impacting her earnings. I referred this client to my friend Andrea Shillington, CEO of Brands For The Heart, because I knew Andrea could help her get to the root of the issue.
Andrea knows the power of vision in branding. “For me, it’s all about what’s your vision and where do you want to go,” she states. “I think sometimes when we want to grow our business we think small about where we can go and about the brand that we need to design to really become that big, massive business in our industry–to have that impact that we desire to have.”
Own The Metrics
Once you drill down into what’s important to you and why it’s important, you can then reverse engineer backward from the bigger vision and turn that into action steps. When working with entrepreneurs, we take a look at this year, next year, and a few years beyond to determine what action steps need to happen to turn the financial model into reality. If cash flow is a problem, we look to answer questions like, ”Is funding needed, or would increasing prices get us to the next step?”
Understanding your financials can deliver the business growth that allows your business to make more connections, have an even greater impact on your specific market place, and serve others in new and effective ways. But you have to own the metrics and know how they’re influencing your growth positively or negatively.
As Andrea puts it, “I am basically managing blind if I don’t have my numbers. How am I supposed to make any decision about what to do next or how to improve my business if I don’t have my numbers in front of me?”
Take The Risks
Once you have your big vision set and your funding available, spend the damn money! You can put all of the actions and the strategy together into a plan but it means nothing unless you actually spend the money, unless you actually take the risk and execute the steps.
If you truly believe in your why and you truly believe in the plan that you’re taking to move it forward, then you’ve got to take that leap of faith to move it, to spend that cash. It can be for advertising, building your team, or whatever you need for leverage to create the ongoing, positive impact you want to make—and can make—in the world to change it for the better.
You deserve to show yourself love by being a good steward of your money and understanding how to operate your business. You are smart; acknowledge that strength. Anything can be figured out, including numbers.
The more you dig for your vision, think big, and take risks, the easier it gets and the more empowered you’ll actually feel. Your business will be able to have an ongoing impact in your market space and beyond—oh, and you’ll be bringing in more money. What could be better?
Image courtesy of Stuart Miles at FreeDigitalPhotos.net