As a business owner, do you even know what you’re trying to achieve? Waking up and hoping that today will be better than yesterday is not much of a strategic initiative (TWEET THIS) and will do nothing to advance your dream. Alternatively, simple statements like I want to be wealthy or sell the company someday and retire just don’t cut it, they are just too vague.
Being successful in business is a combination of hard work, focused attention, and luck. Unfortunately, all three elements must work in harmony to ensure a fruitful outcome.
Hard work is not enough
Hard work on its own is not enough. Heck if it only took hard work, most entrepreneurs would be multi-millionaires. Similarly, focused attention by itself won’t do anything if you don’t put things into action. It’s like spending the day watching an aquarium full of fish, entertaining but not very productive. And lastly, there’s luck. They say that luck is nothing more than preparedness meeting opportunity and preparedness is equal parts hard work and focused attention on your desired outcome.
Stephen Covey stated that you must begin with the end in sight and in my opinion the best way to do that is to take the time and define why you went into business in the first place. Once that is completed, sit down and write a one pager describing what your business will look like when in five years. This exercise will force you to crystallize all those thoughts running through your head and give you a target to hit. In other words your end game. For examples and worksheets go to my website at www.gregweatherdon.com/download
I’m Greg Weatherdon and this has been your Small Business Minute.
Copyright © Greg Weatherdon 2015
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