Do you have a clear small business vision?
A small business vision can be compared to planning a
holiday! People usually decide where they want to holiday
based on the offerings of the destination.
If it’s a relaxing holiday they are after, they may go to
Fiji. But if it’s for shopping, then Dubai may be their
choice. If it’s to climb the Sydney Harbour Bridge then
they will go to Sydney, Australia.
Holiday destinations are determined by desires, with a few
restrictions like budget and time available.
The same should apply to your small business. In 5 years
time what do you want your small business to look and feel
like?
Do you want a large street frontage or small office at home?
Do you want to be actively involved or have a manager
controlling your employees?
How many employees do you want?
Do you want a business with excellent cash flow or a
business that is worth a large sum of money when sold?
Answers to these questions and much more will help to
provide a clear vision of your small business in 5 years
time. And often this will completely shape your growth.
The majority of small business owners start a small
business based on their trade or what they know. They never
usually give much thought to their small business vision.
While it’s comforting running a small business using the
skills you have, sometimes this can be a recipe for
disaster.
Business is a game – it should be simple and fun. But
Business Owners tend to complicate things and the business
ends up controlling them.
Owning a small business should mean a better lifestyle -
flexible and shorter working hours and more money. But this
is hardly ever the case; it’s more like working 60+ hours a
week for about $4 an hour.
Why is this so?
Because small business owners don’t have that vision. They
don’t know where they are heading, they have nothing to aim
for. They have no idea what the finished product will look
like, so the business eventually takes control.
Decisions are based on what happened that day, instead of
the business vision you are working towards.
Take the time now and think of your small business vision.
What will your small business look like in 5 years?
Why will your customers continue to buy from you?
How will you beat your competitors?
What will make your small business attractive to any buyers?
What are all the potential risks?
Think carefully about these questions and then write your
vision down. This will immediately tell you, the universe
and anybody else, exactly what you are creating.
It gives you a defined target to aim for and achieve.
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