As a business owner, you know how absorbing the daily activities of your business can be. Relaxed, stress free, laid back, comfortable – these terms may generally not apply to your daily business routine. Frantic, hectic, intense, time starved – these terms may better resonate. Hopefully, you at least fall somewhere in between. Whatever your state of being is with respect to your business, ultimately it is your mission to create value in your business every day. It is therefore highly important that you periodically step back and ask yourself the following questions:
- What is the potential ceiling for my business and where is my business in that spectrum?
You got into business with a vision of what you could achieve. It’s the main driver that caused you to take the plunge and get into your particular business. If you’ve lost sight of that vision, it is altogether likely that you aren’t pursuing it with the focus and effectiveness that it deserves. You may be working hard, with long hours and the associated angst that comes from business ownership, but are you driving relentlessly toward that potential you initially envisioned? You must maintain sight of that vision at all times, for it is what keeps you focused on what’s important to achieve that vision and incubates the creative juices that help you attack that vision from every angle.
2. Is my time spent doing everything possible to create value in my business?
As the owner of a business, the buck stops with you. Any problem or issue that goes unresolved ultimately affects your bottom line. You naturally feel compelled to jump in and be Mr. Fixit. Every business owner in history has heard the call of duty to attend to matters they never dreamed of before getting into business. Remember, however, that your job is to create value in your business. Every moment spent tending to matters of human resources, accounting, maintenance or other facet of daily operations is a moment not spent creating value, building the top line. Of course there are times when your attention is drawn to, and is in fact needed for, the resolution of certain of these matters. That’s OK as long as you have made a conscious, forward looking decision that taking time away from your primary mission is justified.
3. If you objectively assess the state of your business, and the business has yet to achieve expectations, was your initial vision misbegotten, or can you identify the hurdles, that if swept away, would unleash the momentum to carry you to success?
You must understand what precludes you from devoting your time primarily to creating value, for that is why you’re here. You must work to hire the necessary personnel, instill the time saving, quality inducing processes and acquire the appropriate technological resources. It is not easy to elevate above the daily grind to see what’s needed, and even harder to capture the resolve to make the necessary improvements. Keeping front of mind what you envisioned this business could be will convince you that such investments will pay off.
So go ahead, unclip your wings, and go soar with the eagles!