7 Elements of Business Management
Your business is a living, breathing being. You cannot live on water alone, and your business cannot thrive on a great product alone. The key to a long life is to balance your well-being. The key to a successful business is to balance all 7 elements of your business.
We strive to help owners achieve success in these terms:
1. The company breathes its purpose.
2. The business creates optimal income.
3. The company lives as long the owner wants.
The framework and inner workings of the Consilio 7 Elements of Business Management are meant to help you navigate the complex and multi-faceted –and overwhelming—life of a business owner. The key is to remember that all 7 elements are equally important and require your time and your money.
PURPOSE
Your purpose is the air your company breathes. It’s why you decided to open your doors. Was it to be your own boss? Do you have passion for your trade? Do you want to change the world or simply change the lives of ten people? Once you expose the purpose —your vision, mission and values—you can plan and build the company that breathes your purpose.
MONEY (TIME)
Money and time are the food and water which feed the other elements of your company. It’s true, time equals money. So we embed time in the money element. Here lives your budget, financial analysis, funding source decisions, and planning for your week, month, and year. Do you have a plan for how you will you spend your time and money this year?
MARKETING
Becoming the master of your company’s marketing strategy is not optional. You must know your market segment inherently, then you can activate the voice of your company. This voice carries through your team’s dress style to the culture of your workspace to the font in your logo. Who precisely is your audience and how do you tell them about your product?
PRODUCT
A defined product line is the brain of your company. What exactly, specifically, precisely do you give your customers? How is it delivered to your customer from start to finish? Are you sure the product will be consistent every time, no matter who delivers it?
TOOLS
Do you and your staff have the essential tools to get the job done? Do you have plenty of productive workspace and equipment, time management and paper flow systems? Can you retrieval your information easily? Are your guidelines and procedures documented in a handbook of sorts?
TEAM
Excellence in leadership counts on you knowing your strengths. What can you do and what do you need help with? Fill your gaps with this knowledge. Who is perfect to pitch, catch, and play first? Do they know the expectations of their role and fully understand the company’s ultimate purpose? Solidify your team systems and your effort will be pay off ten times over.
GROWTH
There is little stillness in a successful business. All elements of the business need development at some point the business' life. New product lines, a change-up in your marketing approach, a new take on staff education, or a step-up in your workspace or technology. Focus your growth to get the most out of it. Making too many changes at once create chaos and wastes effort. Just like all living things, if your company isn’t growing, then your business is dying. Which side of the curve are you on?
A word about planning:
Your business has a much improved chance for survival when you proactively plan how you will use your time and money, especially when you account for all 7 elements. Take control of your purpose, income, and business longevity by planning your next moves with a plan.
Let us help you—contact us today.
Download an overivew of the 7 Elements of Business Management here