As spring draws to a close most agricultural planting seasons follow suit and farmers will be busy nurturing their crops in preparation of the fall harvest.
Owning and operating business often follows a similar pattern. At the beginning of the year we lay out our budgets, deciding what we’ll invest our money and time into. At the end of the year we count the harvest. Throughout the year we work to increase the yield of our various initiatives. Many of those initiatives will be the same of what we’ve been doing. If it’s working well, we may even double down. On the other hand, it may be a year where we’re investing in a lot of new initiatives.
Either way, as the end of the second quarter nears, it’s time to put the hard work in to maximize the end of year’s ‘harvest.’ As a business owner what are you nurturing? What aspects are you investing time, effort and money into? Like crops, these initiatives, whether they be in sales and marketing, human resources or technological infrastructure, will often take a considerable front-end investment of time, money and effort before they begin to show results. Nurturing takes consistency and persistence. Although results may come in slowly, they often grow exponentially as they gather momentum. The challenge will be in identifying the initiatives that have the potential to bloom and capitalizing on that momentum. Some initiatives will fail; but you don’t want to be too rash in pulling the proverbial plug.
So how do you know which initiatives have the potential to bloom and which are doomed to yield no results? It’s difficult to know for sure but in this age of readily accessible information there is a good chance that their are at least some vague benchmarks to guide you. For our series we’ll be examining a variety of initiatives and discussing why they would be worth nurturing.
We’ll take a look at ways to invest in your: