Have you ever stopped to take inventory of all the things that are still "hanging out there" in your business?
Maybe an email series meant to convert leads into clients that you just didn't finish getting into your email marketing software... Or maybe its a 30 Day Posting Plan for Fitness Coaches that you spent 40+ hours creating and making exceptional... just to sit on it for 2 years before actually launching it? Yes, that last bit is a TRUE STORY for us!
Our point is, it's HARD to finish things when you're a small business owner... you wear all the hats, so whether it's self-doubt, perfectionism, or simply a lack of bandwidth, just know that you're not alone when it comes to struggling to do the last 10%!
As an entrepreneur, you are always seeking new ways to boost your business, from creating new products and services to expanding your customer base and streamlining operations. But have you ever considered the impact of the "last 10%"? This concept is the difference between a good project and a great one, and it can be the key to unlocking your business's full potential.
What is the Last 10%?
The last 10% is the final stage of a project where small improvements can make a big impact. It's the polishing touches that take your project from good to great, and it is essential to ensuring your business's success.
Why is the Last 10% Important?
As a busy entrepreneur, it can be tempting to focus on new projects and growth opportunities. However, it is essential to understand the impact of the last 10% on your business. Here are just a few reasons why it matters:
- Increased Customer Satisfaction: By focusing on the final touches of your projects, you can ensure that everything runs smoothly and your customers are happy with the end result. This leads to increased customer satisfaction and loyalty, driving repeat business and customer referrals.
- Stronger Brand Recognition: By focusing on the last 10% of your projects, you can make sure that your brand is well represented. This includes consistent branding, professional graphics, and clear messaging, establishing your business as a leader in your industry.
- Higher Profits: Small improvements made in the last 10% of your projects can have a significant impact on your bottom line. Streamlining operations, improving website functionality, and paying attention to details can all contribute to higher profits over time.
How to Focus on the Last 10%
As a busy entrepreneur, focusing on the last 10% can seem like a daunting task. But by following these steps, you can make the most of your projects and unlock their full potential:
- Identify areas for improvement: Take a step back and assess your project from a bird's-eye view. Determine which areas need improvement and additional attention.
- Prioritize improvements: Once you have identified areas for improvement, prioritize them based on their potential impact and ease of implementation.
- Set achievable goals: Decide on the changes you want to make and set achievable goals for each improvement. Keep your goals realistic and manageable.
- Implement changes: Start making the changes outlined in your goals, monitoring progress and adjusting your plan as needed.
- Test and refine: Test the changes you've made to see if they have the desired impact, refining the changes as necessary. Repeat this process until you are satisfied with the outcome.
Why Improving Existing Projects is More Profitable Than Starting New Ones
In addition to focusing on the last 10% of your projects, it's crucial to understand the benefits of improving existing projects over starting new ones. Here are just a few reasons why improving existing projects is often more profitable:
- Leverage Existing Resources: By improving existing projects, you can leverage your existing resources, knowledge, and experience to make improvements quickly and effectively. This means you can see results faster and with less effort than starting a new project from scratch.
- Quicker Results: Starting a new project from scratch can be time-consuming and expensive. Improving an existing project is often much easier and quicker, allowing you to see results faster and with less effort.
- Refine and Test Ideas: By making improvements to an existing project, you can quickly test and refine your ideas, making data-driven decisions that lead to better results. This approach helps you avoid costly mistakes and unproductive endeavors, allowing you to focus on what works best for your business. By constantly refining your ideas and improving upon existing projects, you're able to stay ahead of the curve and maintain a competitive edge in your industry.
- Efficiency: Improving existing projects is often a much more efficient process than starting from scratch. You're able to build upon what's already been done, leveraging your existing resources, knowledge, and experience. This not only saves time, but it also saves money, as you don't need to invest in new resources or hire new team members.
- Leverage existing customer base: When you improve upon existing projects, you're also able to leverage your existing customer base. These customers have already shown interest in your business, and they're more likely to continue doing business with you if they see that you're constantly improving and adding value. By retaining and growing your existing customer base, you can reduce the need for expensive customer acquisition efforts.
- Scalability: Finally, improving existing projects allows you to scale your business more effectively. By constantly refining and improving upon your existing products and services, you're able to increase efficiency, reduce costs, and ultimately grow your business. This leads to increased profits and a sustainable business model, which is the ultimate goal of any entrepreneur.