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Business Success Tip: Know Your Business

During our previous blog posts, we spent some time focusing on gaining clarity in your business. To this end we posed several questions, the first of which was:

What business are you in?

The first and most important question is: “What business am I in?” What business are you really in? Define your business in terms of what you do for your customer or for your company. Keep expanding the definition of your business so that it is as broad as possible. Never be satisfied with the first answer.

For example, many years ago, some railroads defined themselves as being in the “railroad business.” In reality, they were in the business of transporting goods and people. By ignoring the other avenues of transportation that were developing, such as trucks, buses, ships and airplanes, many railroads went out of business.

Many early Internet companies defined themselves as providers of free information geared toward attracting as many eyeballs as possible. In reality, the Internet is a communication and distribution channel that must be focused on selling products or services and making a profit, like any other business. The failure to accurately define the business led to the loss of many billions of investment dollars.

Define your business in terms of the effect your products or services have on the life or work of other people or organisations. By the same token, define your own personal work in terms of the effect or impact that you have on the people you work for and with, both internally and externally.

A follow-up question is, what business will I be in if things continue the way they are today?” If you do not change, what will you be doing one year, two years, and five years from today? Is it an intelligent strategy to continue in your current line of business or should you be looking at changing in some way?

A second follow-up question is, what business should you be in? To determine the business you should be in, the work you should be doing sometime in the future, look at yourself, your talents, your abilities, your ambitions, your energies and especially your heart’s desire.

Next, what business could you be in? If you were to dramatically change your level of knowledge or skills, your products or services, your industries or markets, what business could you be in if you really wanted to be?

Finally, given your assessment of the market together with your ideal future, what business should you be in? What changes would you have to make today to create the business of the future? What changes will you have to make personally to become the kind of person who can live the life and do the work you would really like to be doing in the future?

These are serious questions worthy of your careful consideration. They are essential questions if you are to achieve high levels of success and satisfaction.

The purpose of this free business report is to help focus your attention on those areas of your life upon which we will work during our time together. This act of observing – focusing upon – these critical life elements ensures maximum return on your investment of time and energy.

What one action will you commit to take as a result of this blog post?
How will you follow through on this commitment?
If so, what benefit(s) do you intend to realize as a result of this action?
If you do not follow through, what consequences will you encounter and what will that ultimately land up costing you?
When will you complete this action?

Congratulations on your decision to continue in this year-long The Winning Way in business Process. I commend your high level of commitment and promise to do my utmost to support your growth. If you feel that anyone you know of could benefit by receiving our newsletter please get them to log onto www.WinningWay.com.au and they shall receive a free ebook as well as a copy of the ongoing monthly newsletter.

Cordially,

Ronnie Kagan

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