The first and most important question is: What
business am I really in? This question is not as simple as it
seems. To identify your business goals, you must first learn to
define your business in terms of what you do for your customer -
what benefit or solution is your customer really buying? How does
it improve their life or work? Expand the definition of your
business so that it is as broad as possible. Never stop with the
first answer. Take the first answer to this question and find new
applications, new markets, and new definitions for it.
For example, at
the beginning of the last century, those railroads that defined
themselves strictly as railroads-providers of rail transport-failed
to see that new technologies and methods of transport, such as
trucks and airplanes, were a potential threat to their business. If
they had defined themselves instead as movers of goods and
people-providers of transportation-their response to the changes in
technology might have been different. When you define your
business, think in terms of how your products or services affect or
interact with the lives and work of other people and organizations.
Consider both existing customers, and those customers that you
would like to acquire.
The next question
to ask is: what business will I be in if things continue the way
they are today? Think about your business two years from now, then
in five years. If you do not change the way you define your work or
your business, what kind of work will you be doing? Is it a sound
and viable strategy to continue in your current way of doing
business, or should be looking at changing in some way? Start by
imagining what business you could be in. Where would a dramatic
change in knowledge or skills, products or services, or industries
and markets lead you? To express it another way, if you were
willing to take stock of the environment for your business and
commit to taking action, what business could you be in if you
really wanted to be?
Take the analysis
a step further and think about what business you should be in. To
do this, take a careful and comprehensive self-inventory. Examine
your skills, your abilities, your ambitions, your energies, and
especially your heart's desires. Then analyze the market in which
your business will be operating. Is there a fit? If not, either
evaluate the changes you would personally need to make to create a
business that would flourish in that market, or select a more
appropriate market. These questions are among the most important of
your life: What changes will you have to make to become the kind of
person who can live the life and do the work you would really like
to be doing in the future?
- What business are you in?
- What business could you be
- What business should you be in?
- What business should you not be
- What actions do you commit to
take immediately as a result of insights gained through your
Brian Tracy's "The Way to Wealth"
If you are
looking to define your business more clearly, want to grow your
business or just want to make
2015 Your Best Year Ever, give me a call. I am here to
FocalPoint Business Coaching Excellence
1-506-849-6319 or toll free: 1-877-223-0622