- March 13, 2020
- Posted by: ThistlePraxis Consulting
- Category: Articles, Insights
At the beginning of the year – probably, a grand idea dropped in your mind. You fantasized about the idea and it sort of looked both great and doable – at least, in the eyes of your mind, at the time. Interestingly, since the idea was not in an unfamiliar business terrain, off you went, racing into the skies!
After a couple of days/weeks/months of racing in the skies (depending on how strong your I-will-keep-pushing game is), you are frustrated because, suddenly, you are getting to realize that client inflow plus business leads is experiencing some form of drag and by implication, the graph of income revenue is on a steady decline and worse of all, you cannot seem to connect the dots with what the problem is.
Out of nowhere, you think to yourself that creating another business would probably be the solution.
Now, before you run off to kick-start another business, think about this statement of fact: You do not treat symptoms expecting to solve fundamental challenges. If your business is currently experiencing a down-ward spiral, there might be some fundamental issues that you are yet to properly address.
There are many leaves and branches that make up for experiencing growth in business but these three areas MUST be considered fundamentally:
- What is your ‘WHY’?: Build your business around a challenge you are passionate about proffering solutions to. Hunger for profits should not just be the reason your business exists. Profits is sweet but offering quality value is sweeter.
- ‘WHO’ is your business existing for?: By now, it should be clear that you cannot take on every challenge – and you should not even try to. Discover, focus and niche down on your targeted audience, depending on the unique service(s) your business is offering.
- ‘WHERE’ are you headed?: Just as it is paramount that you establish the reason/motive for which your business exists, you must be very clear on the vision – these two, work together for the common good of your business. If your business lacks clarity in the area of where it is headed, building your business will be a struggle, if not impossible.
Now that these fundamental questions have been answered, do well to always remain connected to them so as not to drift off even as you begin to (re)implement all your ‘killer’ strategies . New ideas for expansion and growth would come but keep working around these three things. Keep discovering and rediscovering how these three are connected to each other in the bigger and wider picture of your overall vision.
With these in place, you would be off racing into the skies again- this time, sustainably.