Advice for those who are struggling with their business.
I am a business professional and entrepreneur who has worked hard to beat the odds. I successfully launched Cazarin Interactive almost 23 years ago and the solid education I have gained over the years has given me the experience needed to be able to help others improve their businesses.
My experience includes a BIS degree in Computer Science and Management Information Systems and a Masters degree from Carlson School of Business with a concentration in marketing. I am also a graduate of the Goldman Sachs 10,000 program.
It’s been said that most businesses fail within the first 5 years. According to the U.S. Bureau of Labor Statistics (BLS), this isn’t necessarily true.
Data from the BLS shows that approximately 20% of new businesses fail during the first two years, 45% during the first five years, and 65% during the first 10 years. Only 25% of new businesses make it to 15 years or more.
Having clarity on your professional vision is key.
I can tell you with confidence that this information is extremely valuable. I have gained this information from books, business professionals talks, personal experiences, personal interviews, high-level education, and spiritual principles.
Create a solid VISION – a plan that describes your goals for your company for the next 3 to 5 years. Create a plan that is as visual as possible by using meaningful images, photos, inspirational quotes, etc. In your plan, define the following:
- Why are you in business?
- Goals for annual gross revenues
- What are the core values of the company?
- How many employees do you desire to have
- What will you offer your employees?
- Culture
- Compensation
- Flexibility
- What does your complete team want to be
Let’s break these down a little further.
Why are you in business
Many people go into business for themselves because they want to become millionaires. I simply wanted to have good financial income. The reason I started Cazarin Interactive was because I felt that working for myself and being my own boss was the right decision for me. As an educated professional, I wanted to forge my own destiny and have a high quality of life aligned with my personal values.
Annual gross revenues
How can you decide on gross revenues when you have not sold anything? It doesn’t matter as long as you have a goal and an objective. The better question is: Do you know what you want your company to accomplish in the next three years?
Core values of the company
Define your core values and live them. When you are all aligned, you build “Team Spirit”. As a leader of Cazarin Interactive, my goal is to create the vision for the company to get on the right path to fulfilling goals by creating an unwavering guide. I am the Vision Architect to make sure we harness the team spirit.
The values at Cazarin Interactive are:
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- Integrity
- Commitment to Quality
- Value Relationships
- Operate with Vision and Purpose
- Value Collaboration
- Great Atmosphere for our Staff
How many employees you desire to have
I was encouraged to grow our company in the early 2000’s . I didn’t want to do it. We had investors ready, but I had experienced chaos in a previous company after we reached 20 employees. With under 20 people in a company, it was a close group and we had a lot of fun. Once it grew over, the social dynamic changed. For me, the number is 20 and this has always been the maximum.
What do you offer the staff?
Culture, friendliness, positivity, and quality of life are items that can’t be purchased.
Compensation, many times, is a low priority if you have a great culture. It is VERY important of course but can become lower in the priority if you have a great culture.
Flexibility, the ability to work from home, and odd hours have to be possible for more and more people these days. If you have the right systems, this can work.
What does your complete team want to be
This is OUR VISION:
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- To be a premier digital marketing agency where both staff and clients enjoy working together in a creative environment filled with happy people.
Please note, we are complex individuals. The above suggestions are a foundation to create a business with great team spirit working towards a vision. The profit is a manifestation of doing the above correctly.
Tips
Where do you start? – Try to make an inventory of what you are missing. Talk to other professionals and business coaches to make sure you understand what you are lacking.
Decisions under fear – Don’t make important decisions under fear, more than likely, you will regret it.
Calm – Remain calm at all times. As a leader, you have to keep a solid foundation for the business. Learn to meditate, decrease stress, etc. If you are calm, you will be able to find answers. Reach on your spiritual beliefs to get answers.
Resources:
- Goldman Sachs 10,000 program application
- Cazarin Interactive – Digital Marketing
- Top 6 reasons businesses fail
Question:
What is the vision for your company in the next 3 years?
Let us know if we can help you in any way.