On today’s run, here’s the thought-provoking lyric I discovered, thanks to the band Daughtry and their song, “What I Want.”
What I want and what I need…
And it got me to thinking … Are you making decisions in your life and your business around what you want and what you need? If you’re not, you may want to think about making some changes. There are many ways to build a successful business, but not all will give you what you want or need (in terms of money, or freedom, or flexibility), or be built in such a way that you get to do what you want to do. And most struggling business owners I speak to are finding this out the hard way, by ending up in a business that isn’t working AND isn’t giving them what they want or need.
I know, I’ve been there and it’s not a fun place to be!
That’s why I now practice the following two decision-making models, and recommend that my clients do the same:
1) Outcome-Based Decision Making
2) Activity-Based Decision Making
When you implement these two simple practices into your business, it enables you to stop struggling in a business that doesn’t fit you and instead makeover your business so it’s tailor-made to suit your needs and wants. After all, it’s YOUR business and YOUR life. Why would you ever choose to be stuck in a business that isn’t giving you what you want, when you can easily avoid it by asking the right questions up front?
Yet I talk to business owners every single week, who have income goals and haven’t really figured out exactly how they’re going to get there, and more importantly, what they’re going to have to do to achieve those goals (or if the math even works!)
There are many different ways to make money in a business – you want to pick the one that fits you best.
For example, I’ve had businesses where I earned $6000 a month on a recurring basis, from just one client. In contrast, I spoke with a new business owner this week who was developing a business model that was going to require 172 new clients every single month to earn her $6000 a month. Both businesses deliver $6000 in revenue per month, but require vastly different marketing and operational activities to sustain. I’m not saying one is right and one is wrong, just that you want to make sure whichever one you choose is one you know can work (have others done the same or something similar?) and just as important, that it’s a business you can get excited about operating, BEFORE you make a decision to start it.
As for today’s thought-provoking lyric, I encourage you to think about whether you’re really getting what you want and need from your business, and share your thoughts by posting a comment here on this blog.
You’re not alone. I’ve been there – heck, I’ve had 8 different businesses over the past 12 years … you think I haven’t taken a few miss-steps along the way!?!