What’s the one thing that all business owners (including freelancers solopreneurs, and side-hustlers) have in common?
The desire for a successful, rewarding business.
But what holds them back from thriving?
For starters, it’s losing sight of the bigger picture. Instead, they focus of their efforts is on one aspect of the business (more often than not, marketing!)
The outcome? It leaves really important aspects of the business unattended. Parts of the business that should be honed-in on and strengthened are often overlooked or ignored.
Which is where the ALL-ROUND, 360-degree approach comes in.
The 360-Degree Business
I’m going to explain the 360-degree business model and how it can transform the way you work.
But first, here are a few things to keep in mind:
One: There are four pillars to this solution. ALL these pillars must part of your business strategy. THEY WILL make your business work.
Two: The 360 approach will relieve you of your overstretched working days and help you work smarter, not harder.
Three: Every business is completely unique to the individual, so what works for someone else (probably) won’t work for you. If you’re unsure of what your business needs, let’s have a conversation so we can start chatting about your options.
What is the 360 Approach?
Have you ever sat and asked yourself the following questions:
Why isn’t my business making money?
Why does all the marketing I do not bring me new customers?
How do I get more leads
Put this down to having a misaligned business model, which luckily is what my 360-degree approach aims to fix.
The process is a really simple way of getting yourself back to doing things that you need to do, without getting burnt out or overwhelmed in the process.
We’ve all been there (trust me, I have too) and it all stems from trying to do too much at once – all of the time!
I get it, I really do.
When you’re comfortable doing the same-old, same-old and it seems to be working, it’s easy to get lost in a narrow view of doing things.
I have found this so many times with businesses getting ‘stuck’ with using one, specific social media platform. They rely on it for the majority of their marketing activities. Then the impact of their work starts to dwindle because of something as simple as an algorithm change or a shift in their customer profile.
You have to keep your eyes on the business in its entirety for it to really thrive.
The best way to describe the 360-degree approach is that it is a holistic way to get more sales without doing as much ‘hands-on’ tasks.
For example, rather than focussing on one area that you think will make the biggest impact or just sticking with what you know, the approach works on the four key pillars that actually bring about business success.
So, let’s talk about the pillars
360-Degree Pillar #1: Money
First up is THE BIG ONE – MONEY!;
It comes with three must-haves.
Financial management is absolutely necessary to make sure that your incoming and outcoming expenses are lining up with your future targets. You also need to think about how much you will pay yourself and whether your wage is in line with your financial goals.
Financial targets and making sure that these are realistic to your industry, services and product market is what will ensure that you have all of the information you need to project a goal.
Financial compliance is also incredibly important, as it will ensure that your money is being spent in line with governmental regulations and business needs, such as tax and minimum wage updates for employees (as well as your wage).
Making sure that your financial planning and process is well thought out, incorporates these three points and aligns with your business goals is key to leveraging the benefits of a good financial strategy.
In the end, money really is your best friend – and you will make more of it – when planned correctly!
360-Degree Pillar #2: Marketing
Marketing is the cornerstone of any great business strategy.
It’s often overlooked as an option rather than a must or, really important this point, it’s misunderstood and used incorrectly.
Marketing is a slow burn. You have to take time to develop your brand voice, identify loyal audience and do your market research. If you’re not entirely sure about and of this, you WILL have problems.
Digital marketing is often seen as THE ANSWER to the marketing needs of small businesses who don’t have the big business budgets. It’s NOT THE ANSWER, it’s AN ANSWER.
You do need to widen your marketing activities to include a whole variety of methods. But, I can’t deny digital marketing – if done right – provides a massive boost to the promotional opportunities for small businesses, freelancers, solopreneurs and side-hustlers.
If it sometimes seems that the best-kept digital marketing secrets used by the pros are something that can’t be obtained; let me tell you, they can!
Recently, the effects of targeted marketing strategies have seen quite a sharp rise in the business world as many who see how great it can be when implemented correctly have begun to invest in their own marketing plan.
A 2022 survey from Statista found that “digital marketing spending in for-profit companies was expected to increase by 28.29 per cent for the following 12 months, as compared to the full year prior,” which shows that it’s rapidly building in popularity.
Many business owners are now getting to grips with what marketing can really mean for their business, and the use of developing customer profiles and leveraging their brand voice can allow their company to stand out from the crowd.
360-Degree Pillar #3: Management
Management is third on the list of pillars, but it’s just as important as the rest.
Many business owners have caught on to the use of automation in their ‘back office’. It provides a great solution to tedious tasks like data collection, invoice processing and administrative jobs that you just don’t have time to do every day.
This is why developing processes and systems to make sure that these things are getting done in a more streamlined, time-effective and productive way is such a simple solution to your work woes.
Having all of your data in one place is also a massive benefit to taking away the stress of multiple platforms and areas where documents are stored.
Who wants to be clicking on multiple platforms and software, turning a a five-minute task into a half-hour slog?
Not me!
360-Degree Pillar #4: Mindset
Your mindset can be your friend or your enemy.
It can really boost or damage not only the way that you work, but also the result that you’ll see from your business.
Things such as self-doubt, lack of motivation, overwhelm and no clear path of where to begin, are all issues that will bleed into your success.
So, two things
Your self-belief is THE BIGGEST thing in helping – or hindering – you see the right route for you
Eliminate those doubts and seeing the bigger picture outside of yourself can be achieved with help, support and guidance
Building your confidence and self-esteem as a strong business owner and believing in your strengths is enough to push through those challenges.
So, the next time you feel like you’re not doing enough, or as well as you should be, step away from your desk. Do something just for you, such as a walk, drinking a cup of tea or even get up and dance if you want to.
A 2021 study by Ciphr and Censuswide found that “nearly a quarter of UK adults say that work, in general, causes them stress.”
Just remember that your mentality and health come first, so you should take as long as you need to recharge.
There we have it—all four pillars of success that stem from the 360 approach!
Integrating all these aspects into your business plan and process will massively improve your work and the results you’ll see in the long run.
Next Steps?
Have you just read my blog and nodded along to every issue I’ve outlined in business that stops owners from being able to truly harness success?
Then I want to talk to you about The 360 Club. It’s everything I’ve written about ways to help you understand your business and get the best out of your strategy.
If you’re looking for more handy tips and tricks for your organisation, check out my blog where I talk about things such as investing in business mentoring, easy ways to win new business and much more!