Finding Your Focus

Because of the economic situation we are in today, many people have asked me to comment on what small business owners can do to "survive" these hard and potentially risky times. What should they be doing each day, where should they cut back, where should they spend money, how are they going to keep their customers, what happens if their customers start cutting back on their spending.......?

There are many questions that quite frankly, I just can't answer. I have never lived through an economic situation such as the one we find ourselves in today - no one has. However, I keep looking around when I am out shopping, eating out, going to the bank, driving past the movie theater - and I keep seeing people out spending money.

There may already be a slow down in spending - but it certainly hasn't stopped, nor trickled down to the point of putting many businesses "out of business."

If you are familiar with my F.A.C.E. Philosophy - the F stands for Find. It represents the way we look for potential customers and employees - who they are, where they live, and how we can find them. But, it also stands for FOCUS! And today, more than ever, focus is going to play an important role in the survival of the small business.

In my child’s Taekwondo Academy, Master Lee has three rules of concentration that he teaches the students: "Focus the Eyes, Focus the Mind, Focus the Body, Sir!" As the students recite this with firm conviction at the start of every class, I am constantly reminded that this mantra is also appropriate for small businesses. Without focus, small business owners are lost. Without focus, we loose our internal customers’ (employees) loyalty, drive, and desire to succeed. Focus is what keeps us going each day – leads us to our goals, assists us in ultimately achieving success, and guides us through the entire entrepreneurial experience.

So what are you supposed to focus on? This would be a good time to go back and look at your original business plan. Trust me, it's kind of fun, much like going back and looking at your high school year book! Remember how excited and passionate you were when you were writing your business plan? When you were dreaming of how successful your business was going to be? Look at that plan - what were your main areas of focus? Where did you show the most opportunity for growth? What was the main objective of your small business - and have you deviated away from that at all over the years?

Survival today is going to include bringing the basics back. The basics of your business. The basics of customer service, and customer retention. Loyalty programs, smiles, deals. Make a list with two columns on it - the first column would contain the MAIN reasons that your customers are your customers - what is the #1 reason they come to your business to make a purchase. What is the #2 reason, the #3, and so on. Your list should only be 3-5 items. Then, on the other side in the second column, list all the other reasons your customers come to you - convenient location, nice employees, ease of ordering, etc.

Now - consider these lists - where have you been focusing most of your time and energy? On the 3-5 items in the main reason column, or on many of the items in the secondary reason column?

Today, keep it simple, bring it back to the basics. Think "pounding the pavement" when it comes to marketing. Think "keeping overhead costs down" when it comes to expenses - like turning off lights, using cold water, and adjusting your thermostat properly. Think "employee loyalty" when shaving off labor overhead - patience, training, incentives. Remember to appreciate and be thankful for your customers and their business today, yesterday, and tomorrow.

And always remember....."Focus the Eyes, Focus the Mind, Focus the Body, Sir!"