Business Talk with Anchor & Orbit
Here at Anchor & Orbit, we know that business growth, and change, takes time. Sure there are those whose business skyrockets immediately, but even if you’re that lucky one, how do you then maintain it?
YES, the dream of getting 10k followers in a week or an instant six-figure salary are both awesome (we would like to have a whole other complicated conversation about the realities of “six figures.”) Shoot for those stars and other celestial bodies! Incremental and manageable growth is sustainable growth. And we’re not the only ones that say this — thousands of books, articles, and podcasts have been written about the glory of growth that’s manageable and filled with intention. People create business plans, analyze their industry and have outside perspectives chime in on their business’ trajectory because those elements create a roadmap toward your version of success.
But what does it truly feel like to be en route? What are the pieces of your business that need to be tended to so you can create a strong foundation for growth?
We have a few ideas and though they aren’t quick fixes, they are definitely a great way to be in more control and understand your business on a deeper level.
[But please, the below is not legal or financial planning advice. Each person’s situation is different, so when you’re finalizing your cash flow or you’re dealing with things like contracts, contact your lawyer and CPA.]
Goal Planning: You have a lot of ambitions and dreams and also a life that happens daily. How do you achieve those goals? You need systems (a set of processes) to take you there, paired with consistent work. Take time each quarter, month, week and day to align your daily activities with your ultimate goal.
Financial Clarity: Do you know what you need on a monthly basis? Do you know what you want on a yearly basis? Do you know what your business needs to thrive? There are patterns when it comes to earning and spending. Create a system that helps you see the patterns so you’re prepared for fluctuation.
Important financial goals are setting aside 30% of your income for taxes, having an emergency fund, contributing to an IRA, and setting up an HSA to offset taxes and prepare yourself for health emergencies (it’s nice to have at least your deductible in there.)
Market Analysis: It’s good to look around! The internet is a beautiful, creative, awesome place. Look closely at what others are doing in their industry, the way they talk, the way they launch new products, how they interact with their customers. This can be something you do with people in your industry and in other industries as well. Even if you’re making clothing, looking at how a ceramic artist deals with their wares can be very informative.
Good questions to ask yourself: What are other companies doing right? What are other companies doing wrong? What can I do to fit in with my offerings (and stand out?)
Systems & Productivity: Omg. Running a business is so hard. Take a moment to think about what you’re avoiding or what you repeat on a daily, weekly, or monthly basis. What would make your life easier? Is there a technology you can implement that doesn’t take away your magic or the act of learning (both very important for happiness)?
Technology that we love: Calendly (for booking appointments), Google Docs (for easy collaboration), Timely (tracking client time), Toggl (for timing your work), HelloSign (contracts), and Quickbooks (accounting, invoicing).
After taking in all of that information, return to this: these. things. take. time.
We don’t believe in giving blanket advice (it can be damaging!) So, please reach out if you have questions to start the dialogue with us. We do believe in small business. We believe passionate people (that's you!) doing things for good reasons are the future. And we hope reading this is helpful and sparks something inside you that moves your business forward.