We’re all trying to achieve something in our businesses and our lives.
And we’re all working pretty hard at trying to get there.
So why do some businesses perform so incredibly well when the majority of businesses just Get By?
Do they just have better ideas than you? Are they smarter than you?
Well maybe! But that isn’t the main reason they’re doing well.
It’s all about Consistency
It’s about doing the right things on a regular basis. And following through and finishing the important jobs that make the difference.
I’ve got a rather unique privilege in my business. I get to see and work with many different businesses across most sectors, with a wide range of turnover from £250k to £30m. In fact I’ve worked with over 260 companies in the last 18 years (you get to the stage where you’ve seen most things!)
They’ve all got different specific issues, although they share the common operational challenges of staff, sales, marketing, pipeline, managing cash, as well as needing to be strategic, do the big (and more exciting) stuff that drives the future.
I learned from Tony Robbins many years ago that consistency is one of the most important things you can do in your business, and it’s something I took to heart and do my best to work on every day, and to coach my clients on.
Because from my unique insight into a lot of companies I know that the businesses with consistent behaviours and habits win out on those without. And by “win out” I mean financially.
The consistent businesses make more money and have better cash flow.
So how does consistency translate into better financial performance?
These are the top 5 things that done consistently will have the biggest impact on your business finances:
- Marketing – This is something you have to be on top of all the time. Not just when the order book and pipeline are looking low. Panic marketing looks and feels like panic marketing. Consistent marketing = consistent sales, assuming your marketing works (that’s another conversation)
- Monthly financial reporting – it’s never ok to only know how you’re doing financially every now and again. You need to be on top of your numbers every month. This has to be a habit.
- Weekly Flash Report – a fast and simple report that tells you all you need to know that week, looking as far ahead as you can. My clients who consistently prepare a weekly flash report out-perform those who don’t.
- 13 week cash flow forecast – unless you’re awash with cash this is a must. Consistently looking 13 weeks ahead means you’ve always got cash flow under control. No cash crises for you!
- Regular consistent updates or meetings with your team. Remember that you’re always setting the standard for everyone in your business. Keeping people in the loop on a consistent basis keeps them happy, they know what’s going on, and they have a regular forum to raise ideas, share concerns and generally feel part of things. An engaged team is always good for profit.
Consistency breeds consistency
If the rest of your business see you being consistent with the important things it sets an example of how you behave as a business. Equally if your behaviour is random and they see you never following through, guess what behaviour they think is ok?
New things NEVER stick without consistency from someone
This is one of the most important benefits of consistency – when you put something new in place. It could be a new idea, new marketing strategy, system, procedures or checks. More often than not new initiatives fall by the wayside very quickly.
New things need consistency. They need a champion to doggedly make sure the new thing becomes part of what you do. And it takes a while to build momentum into anything new.
But how do you get to be consistent?
Consistency is just a habit. So even if you think you’re just not good at being consistent and following through, the great news is that you can learn to be (IF you want to)
It’s a muscle you can build up, and naturally over time you’ll get really good at being consistent, especially when you see the results you get. Think of something you already do consistently, exercising for example. It’s obvious that going to the gym now and again won’t keep you fit and healthy, and we know that when we exercise regularly we look and feel better. And you know what if feels like when you’re in the groove of exercise being a habit.
Start by applying that to just one thing in your business you want to do regularly. Plan into your diary every day, week or month when that thing needs to happen, and make sure you do it. Over time you’ll build your trust in yourself that you can follow through, and you’ll naturally start adding in more habits. And when you see the benefits you’ll be hooked.
Being consistent even when you don’t feel like it
There times where you just don’t feel like it, or that the thing you’re doing just isn’t working. That’s when you flex the muscle and do it anyway. Otherwise you’re just proving that doubting side of you who just knew you couldn’t keep this up!
A small example of this is my weekly blog. I’ve written a blog almost every week for 3 years now. Some weeks I love it, some weeks are torturous, but pretty much every week I’ve published a blog because I committed to it as key part of my marketing strategy. That slow drip every week is mostly responsible for the reputation I’ve built over that time for being a financial expert.
So my question to you this week, is this.
Is your lack of consistency is holding your life and business back?
I’m sure you know what things you could be doing more consistently.
I wonder, what impact would they have on your business and life if you did?