What does it take to turn around an online business into a successful website?
To transform an online start-up website idea into a very successful Internet business requires a reliable web host, passion to grow your idea, and leadership—very effective leadership.
Get out of your comfort zone.
First of all, if you are the general manager who is in charge of turning around a company, you need to get out of your comfort zone. In order to turn around a business, you need to prepare yourself for the steps needed to rebuild a brand. You will need to take risks. Sometimes risks pay off and others, well—you know. Starting any business means everything is new. Everything is hard and will require a massive turn around to unlock the potential of the brand.
How do you get the business back on track?
- Plan (strategize)
- Make it happen (execute)
- Constantly improve leadership skills (encourage the team and obtain feedback)
1. Assess the business and assemble the right team.
Part of developing a strategy is assessing the current situation. You can't make any plans until you have a thorough understanding of where the business stands today. Talk to the team. Talk to the board. Look at the business data to assess what is working and what isn't. Develop a strategy and develop a plan that you feel very passionate about. It will take a great deal of motivation and momentum to turn a business around or grow a start-up domain name into a successful website. When you develop a strategy, you need to make choices. Many people will have great ideas and you will need to say "no" many times so you can get fundamentally to the core strategy your company needs. Develop the plan and execute it. As a result of choices, your company can either turn positive, if you have the right strategy and make the right choices, or not. Executing the strategy is crucial to implementing all the work you put into the planning process. Depending on the size of the company, a thorough strategy can take anywhere from one month to four months to develop. Formulate your product or services for the consumers' benefits.
The most important thing a leader does is to assemble a team and pick the right talent. These are tough decisions and you can not procrastinate because, until you have the right team, you will get few results. Strategy is only one part of the formula. You need to have the right team. You need to empower the team to execute the strategy. What is most important about a team is to find a team that has diversity. Not just diversity in gender, but diversity in terms of perspectives, backgrounds, experiences, age.
When you have a diverse team and diverse thoughts, performance business breakthroughs happen. An effective team needs people with diverse backgrounds, each of which is equally important: big company experience, start-up experience and entrepreneurial experience. If part of the culture is working, don't change it for the sake of changing it.
2. Execute the strategy.
To execute a strategy, the team needs a cohesive culture. And what works best is a positive culture in which the end objective is to benefit the consumer. What kind of culture do you want in your team? Focus on what each person does, instead of their title. Make the culture more than a place to work. How do you develop a culture where people feel safe sharing their ideas? It is all about generating ideas by having people more comfortable speaking their mind. This is one of the hardest things to do. An idea that works well at times is having a "wine down" Fridays. Every Friday at about 4:00, the team gets together and shares personal or fun things. People speak their mind. Some of the best building ideas can come from wine down. People feel comfortable to speak their mind. It is one step in making the culture more open. Values are an important part of the culture. Being honest and candid about what you do, and doing what you said. Being honest to the team and being honest to the consumer is important to the value of the culture. If team members feel passionate about a topic, for example, environmentally friendly practices, the team has a culture and values.
3. Consistently work to improve your leadership skills.
As a leader, it is important to celebrate success. It encourages the team and ensures that everyone is on the same page. Celebrate success and give the team confidence that all the hard work that they put in, pays off. It makes people more excited to work harder and harder, which leads to positive momentum.
Join local peer groups because they are people that are all in your shoes and you can get a very objective perspective from them. Network and find your pier network. Otherwise, it can be lonely so find a network of people who understand what you are going through.
How do you earn your leadership?
Leadership is about:
- Inspiring people to do more
- Inspiring people to dream more
- Inspiring people to become more
These three things make you an effective leader and you need to earn your leadership every day.
A web host is more than just a vendor... a web host can be your partner in business.
Say “yes” to passion, courage, and integrity. Select a team with integrity and courage. Select vendors with experience and honesty. Select a web hosting provider that you trust. Build a strategy based on thorough examination of the statistics, execute the strategy and constantly work hard to improve your leadership skills.