Do you know the reason why most businesses fail, or more specifically, fail to be what they really should be? Well, I’ll get to that in a second.
Before I do, let me ask you a question, take a second to really think about it… Is your business exactly how you’d like it to be?
That might be difficult to answer right? You know that it isn’t, but you might not know why!
Let’s see if we can come up with an answer to both questions.
From nearly 2o years of experince I’ve found that most business owners before I’ve worked with them find themselves forever stuck thinking tactically. There’s always a new problem to solve, always a new fire to fight.
Your business stays in tactical mode, nothing much ever improves, you may grow a little, you may shrink a little (or a lot). Everything more or less stays the same.
If your business stays in this mode for too long at best you will have mediocrity, at worse catastrophy (times they are a changing).
Most businesses live in a Day-to-Day mode, they lack the one of the 3 key ingredients that all businesses need to make rapid business improvements. That is, they lack a clearly defined outcome they are aiming for (Direction).
Quick question: do you know what your exit strategy is for you and your business? There are only 3 options that are worthwhile.
1. Stabilise it – so it runs like a well oiled cash generating machine (with or without you working in it).
2. Expand it – through proven growth strategies or replication (unless it grows it dies).
3. Sell it – Package it up, make it look attractive, and sell it for a fortune.
Can you clearly define your exit strategy?
If not, that might answer our questions of why businesses fail or fail to grow. It is because have no clear idea of where you’d like it to be!
Success has best been described as a progressive realisation of a worth goal or ideal. Success in business is getting to your desired exit.
Remember you need three things in business to make it take off like a rocket… Clarity (knowing exactly where you are), Direction (knowing exactly where you are going), Strategy (knowing how you are going to get you from where you are, to where you want to get to). This all falls down if you do not have a clearly defined outcome.
So take a few moments today to figure out your exit, it will give you one of the three essential requirements to rapid business improvement.
If you want some help with this, I have a process called my VIP (Visioneering Implementation Process™) that gives you complete understanding of your most desired outcome. An outcome that almost effortlessly pulls you towards it, rahter than you fighting to reach. The VIP walks you through the process step by step and will probably be the most rewarding exercise of your life! Just get in touch and we can arrange to chat about it.
Oh and if you are looking to take the first ,simple, most important steps to gaining more Clarity in your business, and have not got your copy of The Business Power Numbers Checklist™ get your copy by clicking HERE.
