After spending over a decade studying and working with brands, I’ve noticed some consistencies among the successful, and some consistencies among those who fail. There are many elements that go into make a brand a success. But there is a simple, yet effective formula for staying the course and making your business a success. I’ve even got a fancy pants acronym for this formula: SAMM Let’s dive into each element…
It’s one thing to have goals, it’s another to have a plan of reaching those goals. It’s absolutely astounding how many entrepreneurs and business owners have no active plan of attack for their business. They are simply winging it. Don’t chase every opportunity that comes your way. I see far too many businesses jump all over the place from one thing to the next without ever actually moving forward. Create a strong strategy that allows you to stay focused and work your plan. Anything that isn’t part of your strategy is a distraction.
The next step in the formula is to execute your plan. Take action on your ideas and implement the strategies that will move your business forward. The greatest strategy in the world won’t work unless you apply it. Action is one of the biggest keys to success. The faster you implement the quicker you will reach success.
After putting your strategy in place, you must be observant of the results you are getting. This is especially the case with marketing. When it comes to marketing, results are all that matters. That being said, it’s important to note that you aren’t just monitoring what results you’re getting, but also why you are getting them. You can’t improve on your efforts if you don’t know why something did or did not work in the first place. Monitoring your actions and results isn’t a sexy part of your business, but it’s a necessary one if you want to achieve success.
This is where the rubber meets the road. When you have a strategy, apply that strategy to your business, and monitor the results you then must make adjustments as you go based on the results you’re getting. This should be common sense really, but I see way too many businesses sit around and wonder why things aren’t working for them while they make no adjustments to their current plan. Things change. You must be able to adapt and adjust and you must be able to do so quickly. Don’t be married to one single idea or strategy. Measure the results you’re getting and modify your actions accordingly.
It doesn’t matter what business or industry you’re in, the SAMM formula applies. Keeping it front of mind will help you stay focused and execute the vision you have for your business.