MWBE Success: 5 Tips for Improving Outcomes in 2017

{3:25 minutes to read} 2016 was an amazing year for my business! We’ve experienced significant growth over the previous year, allowing us to expand our client base and add employees. Here are some of the things that helped us arrive at the next level:

1. Clearly defined mission and purpose: Our mission is simple: We want to help MWBEs increase wealth through government contracting, certification, and innovative business strategies. Our purpose is about the opportunity that increased wealth creates within our communities. We believe that entrepreneurship is a pathway to opportunity. This strong mission and purpose has allowed us to sync ourselves with projects, clients, and government contracts that are in alignment with this goal. By focusing on this area, we’ve increased results for ourselves and our clients—while building a recognizable brand.

2. Surround yourself with the right people: I have created a network of knowledgeable and trustworthy professionals whom I can ask for advice or information by simply picking up the phone. These close associates are experts in their respective fields (accounting, legal, marketing, financial, compliance, professional development, consulting, etc.), and I use their knowledge as a source of referrals. This procurement of influencers has been life-changing; If I need something, I know who to go to, and if they don’t have the answer they will refer me to someone who does. This bond has served me well as almost all my private clients come to me as referrals from this trusted group.

3. Consistently exceed client expectations: We’ve made a significant investment in providing clients with a lot of little extras that many of our competitors take for granted. Some examples of these extras include a knowledgeable and friendly back-office team who assist clients by preparing reports, proofreading, scheduling appointments, and following up. We also understand the importance of checking in with our clients regularly to see how things are going with our service and making improvements, if necessary.

4. Hiring the right team: It took a while, but we finally have a system for recruiting, hiring, and onboarding well-qualified employees and consultants. Having the right team in place has enabled me to focus on strategic planning, business development, and customer-relationship management—which are essential for growing the business.

5. Investment in personal development: The one big change that I made last year—and the year before—was an investment in personal development. I had two coaches! One helped me work through personal obstacles (habits, rules, fears) that prevented me from growing (I felt like it kept me too small!). This coach helped me to identify areas that needed improvement and then provided me with strategies to get results. The second coach helped me focus on business development. By having these two coaches, I have access to shortcuts, proven strategies, and accountability; these factors have been tremendously helpful in achieving my goals in 2016.

I encourage you to kick off 2017 by incorporating these suggestions into your business plan. If you are not sure how to start, please contact me today!