You might say Part 1 of this blog was about positioning yourself and your business for gains. And perhaps you could say Part 2 is about checking that position, in order experience the pay-off: business wins.
7. Don’t Over-Extend
There are two times in life you should not speculate: when you can’t afford it and when you can. Never aim for more without sufficient justification. Enough said.
8. Convert Weakness into Strength
Weaker, or less good, can often be made stronger, better or faster. Practically every situation has hidden value for the opportunist. It is an attitude of mind. It means appreciating what you have, instead of despairing over what you don’t. At Spas2b we have said numerous times, “Take what’s good and make it better”; “Do more of what’s working and less of what isn’t” (our DIY Mini Business Audit blog attests to this strategy). But to do this, you need to heed to all of the above points just mentioned, don’t you. And even as a parent, I’ve come to know that concentrating on improving your child’s strengths rather than their weaknesses, is a good, solid path to take.
9. Learn from your Mistakes
Ignore a mistake and you’ll make it again. It is more useful to learn from bad judgement, than to deny you have made the mistake. Study the past so you can profit in the future – the only future worth knowing. And where better to study the past from, than your spa financial statements? Why else are they being produced in the first place? They’ll tell you what you did right and what you did wrong; but only if you look. See our Financial Management blog for more on this exhilarating (!?!) topic.
10. Don’t Sacrifice Without Good Reason
Sacrifices should promise a clear advantage. Sacrifice is a willing behaviour without a predictable outcome. Sacrifice only if it looks like the singular choice, and after you’ve taken a peek at your future. And be sure that your business will have a lot more difficulty surviving, if you make unwise personal sacrifices that cause long-reaching affects.
11. Seek Small Advantages
Accumulate small advantages and they will snowball. Do something quieter, but better. Taking planned, careful, incremental steps allows you to achieve enduring goals. Michael Dell, CEO of Dell Computers said: “Swing for hits. Go for the highest batting average, not for home runs”. The result is a steady gain.
12. Strive for more than you need
While still keeping Point #7, “Don’t Over-Extend” in mind, know that you can win if you refuse to lose – commit fully and extract everything possible. To get the most, you have to give the most. Know that you never get more than you settle for. I love the saying “There is no substitute for hard work”. Although I sometimes hate the fact that I force myself to sweat every detail while others might be saying “just get it done and out there”; I believe that if you strive to give that little bit extra in all that you do, you will never have to settle for mediocre results. And as I heard it said not so long ago, there is much less traffic in that extra mile anyways.
See more in our Spa Business Management Courses & Training Tools