5 Tips on How to Take Control of Your Business

take control of your business
Photo by Razvan Chisu

If you’ve been focusing on getting your business off the ground, it can seem like you’ve just completed a marathon once you’ve actually launched. That being said, starting your new company is only the beginning of your entrepreneurial venture. If you don’t put in some extra time and effort into its maintenance, you could quickly lose control of your business or lose sight of its original mission and goals.

Especially if you’re new to the business world, it’s understandable that you might need to stop and reflect on where you’ve been and where you’re going. Once you take stock of the way things are, you can find a path forward. Here are five tips to kick off your brainstorming when it comes to you truly taking control of your business.

Set measurable goals.

The first step to taking control of your company is to set (and start achieving) clear goals. When you’re just starting out, your biggest priority is likely getting your product to market and getting your name out there. However, once you’ve accomplished those goals, it’s important to keep identifying specific priorities to help you steer your business.

One way to do this is by adopting an OKR framework. OKR stands for “objectives and key results,” and is a framework for goal-setting that was pioneered by two of the people who launched Google. At its heart, using OKRs involves clearly identifying what objectives you want to achieve and what success looks like. This makes it easy to align all members of your team towards a common goal, and you can use OKR software to help track your progress in the process.

Have a strong defense.

In an increasingly digital world, your company is more at risk than ever when it comes to competition. Nowadays, threats to your business can come from myriad sources. Whether it’s a negative post about your company on social media or even a few blog posts, there are countless ways that your staff, property, or operations could be in trouble in the age of the internet. With so many threats, it’s crucial to have a strong defense, and that’s where a company like LifeRaft comes in.

LifeRaft helps you as a business owner by scanning the internet (and even the dark web) for potential threats and letting you know about emerging events as they happen. Having this real-time data ensures that you’re not stuck on the back foot as information comes to light, allowing you to effectively strategize and react much more quickly than other businesses.

Seek out advice for entrepreneurs.

As you’re learning the ropes, it’s important to get good advice on what it takes to run a company. That being said, there are many sources of advice for entrepreneurs, from reputable websites specializing in business strategy to news articles and even mentorship opportunities. If you can find a mentor by searching LinkedIn, it’s definitely worth considering, since having someone who’s walked in your shoes can give you a valuable perspective as you seek to take control of your company.

Think twice before working with your friends.

Even if you like your friends and they have good ideas, it can be difficult to work with them. Especially if you’re going into business together, you’ll want to be sure that you have similar goals and values. The last thing you want to do is jeopardize your personal or professional relationship because you aren’t compatible ideologically when it comes to running a company together.

Lead by example.

If you take charge of meetings and lead by example, that’s a clear and effective way to show your staff that you’re taking control of your company. While you might be the one who founded the business, if you defer to others too many times, you might find yourself with less ground to stand on when you do want to put your foot down. Being a leader is different than being a founder, so be sure that you’re actually driving your company and not just sitting in the passenger seat.