Every business should have a cleverly created business success model to allow you to understand your target market, create value for your customers, and easily grow your business.
But not every business owner follows one.
A good business success model also helps you to improve your current services or product offerings, which allow you to remain relevant and competitive in a global market.
As you make progress in understanding the needs of your customers, and as you improve your strategy, systems, and processes, your business will naturally grow and you will need to make adjustments as you go.
For example, consider Spanx (which started out as a single person wanting to revolutionise unattractive girdles): this company started with an idea and grew into a multi-million-dollar corporation as the owner, Sara Blakley, followed a careful business strategy and success model.
At REAVA Solutions, we follow the Business Success Roadmap which involves 3 levels: Hustle, Breakthrough, and Leveraging/Scale.
Stage One – HUSTLE
As your business begins to gain traction and you start making consistent profits, you can move from the Hustle stage to the Breakthrough stage.
In the Hustle stage, you will need to invest in some tools to take your business to the next level. This involves implementing a project management tool, using a social media scheduling tool, making use of an online booking system, and purchasing the most suitable accounting software.
Stage Two – BREAKTHROUGH
The Breakthrough stage is where you need to move from the person who does everything to an effective manager who delegates tasks.
It’s during this stage, your time will begin to become far more valuable (and you will realise this), so it is vital that you have some suitable processes and systems in place for smooth operations.
Now is also the time to consider a good data back-up system and someone to manage your inbox and customer service.
Additionally, you will need to have a well-maintained marketing plan and campaigns, and ensure that communication with your team is done properly, using a quality service such as Slack or Microsoft Teams.
Finally, you will need to document work instructions for the various aspects of your business – especially the tasks you perform – so you can start to outsource and delegate them effectively.
Stage Three – LEVERAGE / SCALE
As you move into the Leverage/Scale stage, you are now a fully-fledged CEO and are on track for making $1million in turnover.
You will find that you are now a big player in your market, and you will need a strong business operating system as you hire more people so you can do less of the day-to-day operations and more of the big-picture tasks.
Of course, your team will now be in a position to handle day-to-day tasks as you focus on understanding the needs of your clients on a deeper level. This may involve the creation of new team managers and segments; for example, a customer service team or a marketing team to meet these needs.
How do you jump levels quickly?
It is at each level and stage of your business that you realise you need a method to the madness, so you can succeed on each level and quickly move on to the next. And that’s where the REAVA method is useful.
What is the REAVA method?
“REAVA” is an easy-to-remember acronym and stands for: Review, Evaluate, Action, Vision and Achieve more.
- REVIEW: As the first step in the REAVA method, review is a necessary function in order to monitor and evaluate your company’s operations and systems. It should be carried out on a regular basis so you can understand what changes you need to implement, when you need to do it, and in which section of your business. Without a periodic review, you won’t be able to build efficient systems and your business will keep sucking your time, energy and money. Of course, the changes that a review brings about can be new, unwelcome, and unfamiliar, but they are necessary to deliver your company to the next level.
- EVALUATE and plan: Evaluating and planning your company’s systems and processes is essential as it helps you, the business owner, to better understand the needs of your company, team, customers, and your target market. Evaluating the suggestions from your review should point you in the right direction to formulate a plan to meet your existing long-term and short-term goals. A good evaluation and plan will also help you to monitor and measure your progress as you work towards these goals and the future.
- ACTION: By taking the necessary action and strategically implementing your plan, you are helping your company to succeed. An actionable plan will help everyone in your business have better-defined roles, with clear responsibilities and specific tasks, while it gives you the proper resources to make improvements operationally. It is important to remember that you could have the most well-devised plan but, if you do not take action, you will be wasting your time.
- VISION: Having a clear vision for your business means that you are able to see what needs to be done next. A clear and far-reaching vision can also give your company a sense of purpose and direction for the future. With a solid vision for your company, you will be able to define and identify long and short-term goals in a logical way.
- ACHIEVE: Finally, when all of the above steps combine, you will be able to achieve much more in terms of growth for your business. This means that your team will grow, your operations will be more efficient, and you will have more opportunities and revenue in your business. This is the most satisfying part of the REAVA method!
Business systems and processes make for great decision-making in the face of uncertainty – and they have never been more important than right now.
If you want a business success model and roadmap to get back 10 hours in your week – every week – start following our success strategies.
By outsourcing your day-to-day operations or another aspect of your business, you can take a real weight off your shoulders, leaving you to do the most important tasks. Outsourcing certain areas is a great business move as you can automatically give the task to an expert.
If you don’t have enough time to get everything done, it’s time to get an outsourcing plan in place for your business so you can quickly get to the Leverage/Scale stage of business. A business has so many moving parts, and it is systems and processes that will help you get back your precious time and start working on your business.
I can help you to simplify, unpack, and break down your current processes – and outsource them to the right people so you can start getting down to what matters: growing your business.
To book your initial consultation, simply click here and let’s get started.
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