Business Strategy – Know where you are!
- Posted by David Gregory
How long has it been since you took a reality check about where you are in your business, whether the business strategy you have chosen is still appropriate – or even working?
If you’re anything like most small business owners it’s probably been a while – so maybe this is a good time.
Typically business owners get so busy working in their business they feel they lack time to stop which is quite understandable with so many jobs to be done, clients to attend and accounts to catch up on – but unless you stop, you will never realise the difference between:
- What you ARE doing and
- What REALLY needs to be done.
Is a different Business Strategy needed?
Hugh Hefner came to this realisation whilst riding on a Japanese Bullet train!
He suddenly became aware how his whole life was flashing by at 200km/hour and how he hardly ever took time to stop for what was really important.
As you may have guessed, he got off at the next station and spent some time admiring the scenery. The story goes that he then made a decision to slow down and create greater balance in his life.
So what’s this got to do with you and me?
The answer is simple. How many times have we fallen into the trap of running faster and faster on our own little hamster wheels – going nowhere very fast but never getting any closer to our intended destination?
Often we keep using the same business strategy or working patterns – that simply are not moving us forward.
Often there are good reasons (or excuses) for running faster:
- We have to be available for clients when they can get to us
- We have to ‘make hay while the sun shines’ or
- There’s no time to stop because of all the other tasks we HAVE to do when not working with clients
Typically, these reasons are based on fear or lack – our concern about there not being enough customers or there are too many competitors.
Alternatively it could be we feel changing our business strategy is too risky – even if the current business strategy is not working!
Sadly this reactive thinking keep us away from our direction (what we are aiming for) – we end up spending time, energy and effort on activities that, whilst they keep us busy, are not moving the business forward!
Is your current business strategy keeping you from your destination?
As I said earlier it is critical for every business owner to stop, take a look at where you’re heading and get real answering the questions about whether you are performing activities that are taking you towards your destination or keeping you from it.
Whether the business strategy you are using, is actually working!
At these times of introspection, it’s also good to get real about the ‘who, what, why and how’ that may be distracting you:
- Are family members suffering because of clients (or vice versa)?
- Are you always tired or listless because the adrenalin you’ve been running on is depleted?
- Are you attempting to juggle too many balls at the one-time?
- Are you heading for burnout or loss of health that will do more harm to your business because you haven’t established appropriate work/life boundaries and balance?
If you’re like most people I mentor or coach, it’s usually a combination of several of these things rather than one that’s holding them back – which is the very reason to:
- Take control and
- Create balance once again.
After all, the alternative’s not really working for you – is it?
Download Free PDF – Business Strategy – Know where you are
Anthony M Turner – Small Business Mentor/Coach