It might be time to set the reset button on your business. Success truly comes down to the basics.
Welcome to the third installment of my “Entrepreneurial Purpose” series. If you haven’t seen the first two installments, I highly recommend checking them out. You can find the first part here and the second part here.
Today’s installment has to do with setting the reset button on your company.
If you want to get your company on the right track, it’s time to think about revisiting your purpose. Develop a new focus for your business and figure out why it exists.
Ask yourself, how do you stay in business and continue to grow? Your business needs to provide great value to your customers and perform a greater purpose than just making money.
Aside from just setting the reset button in your business, it might be time to set the reset button on your heart. If you’ve been burnt out, worn out, and have those “dark glasses” on, it’s time to reach down and invite the Lord into your life and business.
“If you don’t follow the fundamentals, you simply won’t succeed.”
When you start re-examining your business, begin by looking at your team. Do you have the right people with the right goals working for you? Are you surrounding yourself with people who will help drive you forward or are you dragging along people who don’t have the will to improve? You can’t allow unmotivated, unfocused team members to impede your growth.
You also should look at your business structure. Are you structured for growth? Are you using the right divisions and do you have the right systems in place? These are all questions you should address as you shift toward a better future.
Another area to evaluate is your clients. It’s important to think about whether you’re attracting the kind of clients you want to draw toward your business.
On a larger scale: What about the markets? Ask yourself whether you’re utilizing the right tools and techniques to capture your share of the market.
Financial structure is another important aspect of a successful business. Examine your current structure and eliminate areas of waste while promoting efficiency. Restructuring your finances could be key to positioning you for growth.
Finally, let’s talk about fundamentals. You know your industry and what your competitors are doing. Whatever business you’re in, there is no way for you to succeed if you aren’t paying attention to the basics. The reality is that the market doesn’t care whether you do the right thing or not. The market doesn’t care if you’re following the fundamentals. But, if you don’t follow the fundamentals, you can forget everything else I’ve said because you simply won’t succeed.
Of course, all of the things I’ve mentioned today can be extremely difficult to work through as a business owner. As an entrepreneur, you can sometimes be too close to your own business to see its flaws. It’s easy to get stuck in your mistakes. This is why I think it’s incredibly important to seek out professionals who can look at your business from the outside in. My company and I would love to provide this service for you. Let’s sit down and have a conversation. If I can help, I will.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.