Why A Profitable Business is a Boring Business

When it comes to running a profitable business, many people think fancy marketing campaigns, constantly creating new and exciting products, and charismatic leaders. 

What people fail to realise is that a profitable business is, in fact, a boring business.

As entrepreneurs we often fall prey to "shiny object syndrome". We want the new, the flashy, the fancy. We don't want the boring. That sounds too much like a job!

One of the biggest challenges I see in businesses is staying organised and managing time effectively. Business owners often find themselves overwhelmed by their never ending to do list. They seem to spend their time constantly putting out fires, or scrambling to get jobs done on time. 

Creating a successful business is about creating systems to streamline your business, make the best use of your time, and streamlining operations so you can avoid the chaos. 

Think about this:

• having a standard operating procedure for your customer service team means that every customer gets the same level of service, no matter who they speak to;
• having a process for invoicing and billing means that you stay on top of your cashflow so that you don't miss payments;
• having a process for taking profits out of your business means that you get to put money in your pocket consistently;
• having a flowchart for decision making means that you can reduce the decision fatigue that small business owners often face.

All of these are systems that make the everyday running of your business so much smoother.

The secret to success isn't in the new, the shiny, the flashy. It's about doing something well, and then repeating that over and over and over again. And the way that you do that is by being consistent - creating systems, setting annual goals, quarterly priorities, weekly to do lists, daily top 3’s, and reviewing your metrics.

Setting goals is another key part of running a profitable business. Without goals, you can find yourself working aimlessly, unsure of where to focus your efforts. By setting specific, measurable, and achievable goals, you can give yourself and your team a clear direction and purpose.

Your goals need to be realistic and aligned with your overall business strategy. For instance, if your goal is to increase revenue, you need to identify the specific actions you will take to achieve that goal. It could be launching a new product, expanding into a new market, or increasing your marketing efforts.

However, setting goals is not enough. You need to track your progress and make adjustments along the way. This is where ticking tasks off your to do list comes in. By breaking down your goals into smaller, actionable steps, you can ensure that you are making progress towards your objectives.

It's easy to get bogged down in the day-to-day tasks of running a business, but it's essential to make time for strategic planning and goal setting. Regularly reviewing your progress and adjusting your approach will help you stay on track and avoid getting stuck in a rut.

It's not exciting. It's not sexy. But boy, does it get sh*t done!

Start to build consistency in your everyday business practices. Embrace the routine, stay disciplined and focus on your goals. The results, if not the routines, will excite you.