This month I had the chance to sit with a couple of close friends Mr. Jody Sedrick from Zenware and Shane Mayfield from Perfection Plus Auto Detailing. We sat down and talked about when to make the decision to grow your business. I find this conversation to be one of my favorites cause most young business owners do not have not experienced how to analyze their growth. Here is a small map of ways that can help you gauge your growth.
Some of the things that I got to take away from the conversation really inspired me. Let's start off with the basic.
Write a business 😊
Write three business plans a 5-year business plan a 3-and a 1-year plan. The 5-year plan is your big goal plan. The plan that states where you want to go with your business and how you plan on getting there. The 3- year plan is like your halfway maker. It tells you if you’re going strong 💪 or if you need to improve you plan for better success. Now the 1- year plan "Shane Mayfield from Perfection Plus calls this the "living Plan" cause this plan changes every day. This plan in my book is the most important but hardest to keep up with. Try to remember that not everything happens when you want it to, so It is always important to have a draft of the direction you want to go in.
Education is key🌞
Question 🤔 your experience.
Are you educating yourself every year? Are you placing yourself in a group that pushes you not only to better your business but they to motivate you to hunger?
Next is analyzing your success through bookkeeping. 🌞
This one in my "book" lol is the hardest to learn. Both Jody and Shane could not stress on how important it is for you to keep proper books. Try to remember that a good bookkeeper is like a librarian. They organize your books in ways for you to be able to come back and analyze your production, prophets and your losses for the year. Without this you wouldn't be able to analyze when the proper time is to grow. Shane emphasized that his "bookkeeper" was the very first and most important employee he ever had.
I have posted the last videos and podcast links in case you would like to watch or listen to both of these wonderful people’s stories.