It’s time to focus on Profitability and Increasing Cash Flow. Here are 10 quick tips to get you focused on both:

1. Spruce up Your Appearance – Dress to impress, eat right and stay healthy. If your appearance is top-notch then your confidence level goes up. Sometimes confidence can take you further than education, experience, or who you know. When you walk in the room, they will definitely know you!

2. Hire a Strategic Partner - In order to achieve the goals you set, you have to work with someone who you can trust, and feel comfortable with revealing all of your proprietary information to. Don’t just choose a strategic partner because a celebrity uses them or your best friend uses them - you want to work with someone who takes your business just as seriously as you do.

3. Plan Your Business Strategically – Don’t write a business plan…just yet! I know this goes against the grain, but until you can generate some historical data in your business it’s hard to make concrete future predictions. Sit down and write down 5 things you want to accomplish that relate to your bottom line in the next year. Then plan out how you’re going to accomplish those 5 things.

4. Learn Execution Skills - Learning how to execute (taking action) is the most important aspect of owning a profitable business. Developing your execution skills and creating a business environment that supports those skills is the key.

5. Don’t Just Network – Make Profitable Connections – Surround yourself with key people that can lead you to a sale and/or cash in the bank. We spend way to much time trying to build the relationship – that’s fine; in addition learn how to make Profitable connections as well. It will take awhile to figure out what works, and what doesn't. How? Get out of your world and into someone else’s!

6. Don’t get caught up with the trends or latest thing - Instead get caught up with what’s best for you and your business. There are new ideas and programs’ sprouting up every day and it’s easy to get excited or overwhelmed. It’s Ok to stay abreast of the trends, just don’t try them based on your excitement; base it on your strategic direction and most importantly your business model.

7. Master the art of asking for exactly what you need -When determining the right help from the right source you must do your research so that you can ask the right questions based on what you need. We tend to allow others to dictate what to do, where to go, how to do it, and even tell us why we should do it. Don’t get me wrong these are things that we need and will continue to need; but on the other hand it’s hindered our ability to think for ourselves.

8. Be a jack of all trades – As a business owner, you many not have the budget to hire the pr rep, the graphic designer, the web master, an assistant, the IT consultant…you have to learn how to be a jack of all trades. Don’t think you can do it? Then maybe entrepreneurship isn’t for you! Don’t get me wrong, don’t give up – just be willing to learn how to do something before you say “I can’t.”

9. Can you earn money while you sleep? - Ah... the freedom factor of any business! Making money while you sleep (or passive income), is an income that you earn whether you work or not. I’m not only talking about selling products online, but also creating an ongoing program that you get monthly payments from or selling something that garners a commission. There are creative ways to create passive income; you just need to explore your options. Passive income is what sets you financially free! Just make sure that your passive income exceeds your expenses.

10. Set Your Vision Now - You can’t hit targets you never set. Action without vision is chaos. If you’re not sure of your vision, it’s time to find out. You have chosen a path, business ownership, which will provide you with Freedom of the Mind, Freedom of the Heart, and Freedom of the Soul—if you continue the path. At this very moment, you can be in control. What you envision your business to be is going to make the difference.

Each of the 10 tips listed here demand time and attention. By paying attention to each without neglect, you will begin to function without limits and you and your business will reap the rewards.

© Effició, Inc. Sherese Duncan