Coming Clean: Answering the 5 Big Business Questions
Sometimes the approach to business is as easy as the approach to life - yet we rarely come across any one particular person that can be extremely successful as a business owner and also be extremely successful with their life in general.
The truth is, it takes a lot out of us. In order to truly operate a great business, it takes time, money, blood, sweat & tears - all limited resources. On top of that, we all have lives that we would like to see flourish, but sacrifice is the meal of the day, almost every day, until you get yourself into a place of comfort and control.
Today, I'm challenging that place. I'm calling out all those that have become comfortable in their sacrifice and offer profitability as a justification. It's time to shake up your world.
Introducing the 5 'Ws' of business
When I was young, my father always reminded me that the best way to learn was to ask the five W's. He was adamant that if you understood these areas, you'd come to the most informed decision. I'd now like to share them with you, so that you can use them in your business, as I have with my business:
Who's Who in My Business?
Let's unpack number one here - the "WHO".
1. WHO - This question is usually easy at the beginning, but harder as you grow into defined roles.
Simply put, let's start with: "Who is responsible with the success of your business?"
The answer isn't always yourself - sometimes you have to hand your reigns to more capable individuals that can complete your vision. This would ultimately make you accountable for finding the right people to drive success.
A frequent mistake for many business owners is the "One (wo)man, many hats" policy. You start off wanting to capitalise on a great idea and then next thing you know, you're doing your book keeping and marketing and management and sales and inventory and etc., etc....
Do the world a favor and stop beating yourself up. What you save in short term profits also will add on years of resistance to your brand equity. Basically, it'll take you 3x as long to actually be a lasting brand in your market - and that's only the 20% of small businesses that actually make it there. A few more "WHO" areas you need to consider are: "WHO" will manage my staff? | "WHO" will manage my accounts? | "WHO" will write my marketing plan? | "WHO" will invest in my business?, etc.
Take a deep breath, sit down and start planning. It will take months to a year for you to completely formalize a cohesive business plan. The "WHO" that needs to be answered here is about finding professionals to assist in the process where you fall short. There's no better feeling than getting it right, with the right team, with the right vision.
If you're a business owner that is struggling to answer the WHO questions in your business, then contact us immediately. We'd love to sit down, (no obligation) and talk about your business.