8 Tips That Can Be the 1 Thing for Your Business
Lone tree amidst mountains

Focusing on just ONE THING is the key to success in business and life.

The title of Gary Keller’s book, The One Thing: Insights for Growing Businesses, caught my attention immediately as it spoke to my “always-on” hunger to become more efficient with my time in and out of work. The author, a real estate entrepreneur, argues that the key to extraordinary success is focusing daily on the “One Thing” that’s most important for achieving your goal, rather than scattering yourself in many directions. He and co-author Jay Papasan explain how to determine your goal or life purpose. Focusing on just ONE THING is the key to success in business and life.

So, while I was looking at the many tips and resources captured by Latin Business Today, I thought it might be a good exercise to identify the “one thing” I could extract from the our contributors, the one takeaway. I failed in my endeavor as the ideas and reflections are many and it was impossible to capture just one thing. But I was able to cull several things that our readership have found of value and which I myself can benefit from as I continue my journey as a Latina entrepreneur.

Here are the 8 tips and best practice insights:

Legal: A lawyer may not only be in a better position to educate the entrepreneur on what they should know but also has the benefit of experience in understanding how decisions made at time zero could play out. (Read more here)

Sales and Marketing: Be a good listener; encourage others to talk about themselves. Ask anyone their favorite subject, the answer is often the same: MYSELF. Even to a stranger, sometimes a prospect just wants someone to talk to.  When you sense a prospect has time to spare, use that as an opportunity to establish rapport before you dive into the product introduction. Keep in mind that before someone buys a product, they buy you! (Read more here)

Hiring: There is no doubt that the hiring process can be stressful and even show up for us as an anxiety-ridden phenomenon. That’s because so much is on the line when we bring new talent into the fold of our business. We have invested financial resources, time and energy into creating our business and when we hire we are making yet another investment that, when done incorrectly, can wreak havoc in our lives as a business owner. (Read more here)

Marketing: It seems like every day there is a business attempting to use content as a marketing tactic to build a connection with existing customers and attracting new ones.  Some of their content is highly relevant to their target’s life, others completely miss the mark.   Big marketers pay publishers lots of money to create content that aligns with their brand’s purpose and voice and that provides expert tips and valuable information to readers. (Read more here)

Performance: When we enter the workplace, we bring with us our loves, hatreds, anxieties, emotions, disappointments, and pride. We will meet and mingle with others who also have their cares and concerns and their emotional agendas. These influence whom we can collaborate with, how comfortable we feel, whom we trust, how productive we become, what we can reveal, and what we hide. They support, consciously or unconsciously, the coalitions, conflicts, and negotiations that arise. All this, in effect, makes “work”—what we do, what we produce, how we act. Emotions are not an optional extra or incidental to “real” work; they are part of the warp and the pattern of experiences and work practices. (Read more here)

Strategy: One of the most influential strategic analyses is called the Five Forces Analysis that was pioneered by Professor Michael Porter of the Harvard Business School in the late 1970s. 1. What Does Your Business Do? 2. Leverage Over New Entrants and Barriers to Entry 3. Availability of Substitutes 4. Bargaining 5. Rivalry in the Marketplace. (Read more here)

Innovation: While the work from home environment is not new, how it is being used today as the primary workstation for most office employees is new and has created additional security gaps that did not exist before the COVID-19 crisis. The rapid move to the WFH situation has loosened some long-term guardrails that must now be re-established before the risk exposure becomes worse.

Enterprises cannot become complacent and must take a new look at security policies and procedures to ensure that their risk exposures still fall within acceptable limits. WFH arrived in 2020 and it is here to stay. (Read more here)

Money: Cash is the lifeblood of a business. Without it, businesses die. In the early stages of your business, you may be happy just to make a sale, any sale. But the sale is only part of the cycle, which continues with the delivery of goods or services and collecting payment. Collecting cash is a significant part of the cycle. Don’t leave it for last. (Read more here)

Related content:

How to Market Your Small Business Today

What’s Your Financial Burn Rate? 5 Questions and Answers

Questions Small Business Owners Should Be Asking Themselves Now

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