Although I work with many different types of businesses, there are several issues which clients experience time and time again, and I’m going to share these with you so you can apply them in your business.

Sometimes I’ll find myself saying this one several times in one day to different people.

“You might find it helpful to set some targets for your business.”

Now of course this sounds completely obvious (like many things I find myself repeating) but it surprises me how many businesses have only the vaguest targets.

Without a set of targets, you’ve no idea whether you’re doing well or not.

If you haven’t aimed for something, you don’t know if you’ve hit the right thing. Imagine a darts player just throwing the darts at the wall of the pub, with no dartboard. You’d imagine that he’s a madman, just throwing darts randomly – surely that’s dangerous?

There’s something strange about the act of setting targets for your business. When you set a target, as long as it’s realistic, you’re pretty likely to achieve it. Some people who have discovered this effect have thought that there’s something magical about it, something caused by the power of thought. But there’s nothing magical about it –

You’re more likely to achieve an explicity target if it looks like you’re not going to reach the target, you’ll do something about it.

If you’re selling shoes and you’ve been told that each day you need to sell £500 worth of shoes, and by 2 o’clock in the afternoon you’ve only put £65 through the till, you’ll know that you’d better be nice to the customers and sell some shoes. You’d pay attention. But if you think of your job as just standing around and making sure that no one steals the Jimmy Choos, it will be a different story.

Setting targets focuses your attention on what you need to do.

If you know that you need to do more networking, set yourself a target for how many networking meetings you’re going to go to each month, and how many catch up coffees you’re going to have with people who might send business your way. If you know that you need to get more clients of a particular kind, make that your target. If you have something which consistently gets pushed out of the way because other things are more important, then make sure it’s on your target list.

I’ll write another, more technical, article soon about how you set targets, and how to monitor them, but get thinking about what targets your business needs to set and reach.

I wrote recently about the businesses I can’t help, so I thought it was only fair to write about whom I can help.  It’s tempting to write this as a sales pitch, but I’ll resist temptation and try to be more objective instead. My strap line is that I help small businesses who want to be bigger businesses.  I specialise in businesses with less than 30 employees because the smaller businesses are the sexy exciting ones. The businesses where I can make the most difference are the ones where the owner is committed to growth, and knows that he or she needs some help and support to get there.  Where the owner wants to get to be a bigger business, but doesn’t really know how to go about it. Imagine a two-person design partnership.  They’ve developed some demand, and have some good clients, but they are uncertain how to move from doing all the work themselves to being able to manage other people doing the work.  If you’ve read any of Michael Gerber’s Emyth books then you’ll know that there’s a key growth stage in stopping doing the work yourself, and getting others to do the work, while you become responsible for developing and running the business.  The temptation for our design company is to carry on doing all the work themselves, getting more and more worn out by servicing clients, or by not spending any time on marketing, they risk running out of new business.  Or both. In this situation I can:

• Identify what sort of work the lovely designers need to go after
• See what how they need to price their work to remain competitive, but have enough to be able to afford to pay other people to do the production and improve their profits
• Help them work out what marketing activities are going to work best for them
• Refocus them on marketing, so they can attract new clients
• Make sure they do the marketing, by being there and reminding them of what they promised to do

Of course, my lovely designers could do all of this themselves, but what do they get extra by paying me to help them? I’d say they get:

• The courage to charge more money
• Some fantastic new ideas about marketing, which they maybe wouldn’t have been able to come up with themselves, because I spend all my time seeing what works and stealing other people’s tactics
• Someone to be accountable to – so they can’t just slip back to their old habits, but are reminded that now we’re doing business in a different way.
• Someone who gives a damn.  This sounds obvious, but how often do you have someone who actually really cares about whether you succeed or fail, and have that person be someone who knows what they’re talking about.

Let’s take another scenario, this time of a bigger business.  Here’s a company which has been running for a while.  They have 12 staff, so they’ve got over the delegation issue, and they’re nicely profitable.  But, the director knows that she doesn’t want to spend the rest of her life running this business – at the moment it’s still fun, but she wants to sell up in 3 years time.  And, she wants to have enough money to do something else after that, or to do nothing at all for a while.  In fact, she knows that she wants to sell for upwards of £1.5m. Why would she want to get the woman with the curly hair and glasses in? Our director (we’ll call her Alice) needs some help to achieve her target of a sale in 3 years with a price tag of £1.5m.  Where I can help is:

• Assessing how much turnover and profit she needs to bring in to make the business worth that million and a half, and make sure that the business is working in a way which will maximise the sale value.
• Working on a much bigger marketing strategy to build up the business
• Helping with the recruitment of a really hot sales director to bring in the big sales which are going to add up.
• Supporting Alice in all the little problems that come with growing a business, so she’s got someone to go through things with her.  Again, this is about giving a damn, and getting help from someone who has been through this themselves.

That should give you an idea of the sort of businesses I work with and how I make a difference.  If you would like to talk about how I can help, you know where I am.