A Simple Formula For Business Success

Ever feel overwhelmed by all the information you’re supposed to know in order to grow your business? It’s mountainous! From strategy to social media, from leadership to systems creation, from marketing to HR, from accounting to video creation, from customer service to sales and from PR to staff development—it’s just a lot to take in.

So, what does your mind want when confronted with complexity? Exactly, it wants simplicity! Which is why during session three of my Attract More Clients Like Clockwork course, I decided to unveil a simple, four part business success equation that anyone (including you) can use anytime, anywhere, whenever you want to make anything more successful. So, here it is.

RT + RS + RT + H = Business Success

In other words, if you want to succeed, you need to combine Right Thinking + Right Strategy + Right Tactics + Hustle together … in that order. If you leave out one ingredient (or don’t build in the correct order), the whole equation begins to fall apart and the results you get will be but a shadow of what they could have been (i.e. if you want to get optimal results from your efforts, you need all four elements to be firing on all cylinders in the right order).

That said, let’s take a look at each of these four ingredients and why each is so critical/synergistic to the others.

RT = Right Thinking

One of the biggest mistakes I observe most business owners and entrepreneurs making is that they move too quickly to wanting to implement tactics and ideas without understanding the thinking that needs to be in place for them to be effective … first. For example, in the case of marketing, every business owner or entrepreneur markets their business. However, you and I both know, all marketing is not equal.

So, what differentiates great marketing from ordinary marketing? Exactly! The thinking behind the action. For example, most businesses have websites, but what differentiates a great website from an ordinary one (Note: it’s not how it looks—that would be a rookie mistake)? A great website connects deeply with the best buyer/ideal client/target market prospect and it generates a lead so that business can follow up with them.

Unfortunately, most business owners and entrepreneurs don’t think like that. They think their website should be a brochure that talks about them and what they do/offer. But because everyone is driven by self-interest, no one cares about your business and what you have to offer. All they care about is their own “stuff” and how they can find a solution to a problem/issue/need/want/desire in their life.

In other words, if someone doesn’t think rightly about whatever they’re engaged in (whether it’s a strategic issue or a tactical one), they will always sub-optimize it. People lead well and people lead poorly. The difference between great leadership and poor leadership isn’t just the strategy or tactic chosen, it’s also about how the person leading thinks about the strategy or tactic.

This is why it’s so critical that you become a student of each of the six areas of executive attention (strategy, leadership, management, marketing, money and you). The more you study and learn, the better your thinking will become. It’s also why you want to create a culture of evaluation because it’s in the debriefing where you often find out the kind of thinking that lead to a poor result—and that needs to be changed.

RS = Right Strategy

Once you’re thinking correctly, you have to make sure you’re using the right strategy. Again, the typical small business problem is that business owners and entrepreneurs want to move too quickly to the tactical stage. Why is that a problem? Because it doesn’t matter how fast you’re going, if you’re headed in the wrong direction.

If you live in Charleston SC and you want to get to Los Angeles, CA, it doesn’t matter how fast you’re going if you’re headed north. You’ll never arrive at LA. First, you have to get the destination and direction right (the what or the where), then you can pick the right tactics (the how).

For example, if you’re pursing the wrong target market, who cares what marketing tactics you’re using. Or if you’re trying to offer something that the people in your target market don’t want, who cares. Or if your business model is faulty, who cares what else you’re doing. Or if you haven’t figured out how to differentiate what you do from others in your market, why compete as a commodity?

In other words, why move to the tactical stage, if your strategy is flawed. You’ll be spinning your wheels and wasting money that you don’t need to. Instead, make sure you get your strategy right BEFORE choosing what tactics to use. The order really does matter.

RT= Right Tactics

Finally, we’re al the part of the equation everyone likes. What are we to do? The problem is, you can’t pick out the right tactics if you’re not thinking rightly or you don’t have the right strategy in place. For example, if you want to reach CEOs, using Twitter is probably not your best option. Most CEOs are way too busy to have time to tweet anything. Their lives are filled with meetings. In fact, if they can get one to two hours a day to get their own work done, that’s amazing (i.e. they have no time to tweet—or get on Facebook or look at the Linkedin profile their admin put together for them and their 37 connections).

In order to pick the right tactics, you have to get the other two parts correct first. For example, if you’re a dentist, trying to get someone to switch dentists is difficult. However, over 25 percent of new movers are people moving from out of state. Offering everyone in your market a “free cleaning” would be rather expensive. But, if you chose to do a direct mail campaign to new movers from out of state who fit your target market profile (let’s say over 40 making $100K+) and offered a “free cleaning” that might be more interesting to try.

Most businesses waste a lot of money making the wrong offers to the wrong people using the wrong media. But, once you get the first two parts of the equation right, it makes selecting the right tactics, infinitely easier (and a whole lot less expensive :-).

H = Hustle

This is the part of the equation most people leave out, but it’s the finisher that makes all the difference in the world. There are business owners and entrepreneurs who think rightly about what they’re doing. They may come up with the right strategy. They may even come up with the perfect tactical plan to execute that right strategy. But, if they don’t have hustle (i.e. if they don’t execute quickly), everything falls apart.

If you haven’t seen my video on the Hustle Factor, make sure you do so now (it’s critical if you want to succeed). However, if the first three parts of the equation aren’t in place, hustle won’t make any difference (i.e. you’ll be going north fast when you need to be going west).

But, if the first three parts are in place, then hustle is what makes the difference between businesses that succeed fast and those that don’t. I’ve watched this for years. I have clients who succeed fast and those that don’t. Both have the same coach who’s helped then learn to think rightly, develop the right strategy and then select the right tactics. But some execute the plan that day and others … well, you know the story.

So, which one are you? Are you a hustler (in the good sense of the word)? And have you created a culture of fast execution? If not, you know what you need to do.

Well, there you have it. A short, sweet, simple equation for business success (RT + RS + RT + H = Business Success). Avoid it to your detriment. Use it to your advancement. It’s up to you!

To your accelerated success!

P.S. Let me know what you think of this equation in the comments section below! And if you’re reading this by RSS or email, click here >> to add your comments.

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