Critical Questions for the Small Business Owner
Whether you have been in business for years or just starting, it is always a good idea to ask yourself these three questions to help you reset and move forward.
Questions 1: Why am I doing this?
This question is incredibly important. As a business owner, you will hear many times over how lucky you are. Let it be known that luck has nothing to do with it. This adventure is hard work but you do it for a reason. Knowing that reason will help you sustain. Believe me, you will need to remind yourself of the answer to this question often.
Another reason for knowing this: everyone likes a story. It will help you tell yours and differentiate yourself from your competition.
Question 2: What kind of business do I want?
Do you prefer to work solo or do you want to grow with staff to support your efforts? Are you the consultant or full-service provider? You can always change the answer but thinking about this ahead of time will allow you to start creating organization and process for your operation.
Question 3: Who is my ideal customer?
When you run your own shop, you become hyper-aware of time and that time is money. Every moment spent with Mr. Wrong will take you away from Mr. Right. That is why it is important to know what your ideal client looks like and focus your attention on the most profitable areas. It will also help you with marketing strategies and setting the stage for interaction.
These questions may sound ambiguous. However, the idea is to help you create a vision for your future. There are no right or wrong answers but detailing the answers to these questions will serve you well for marketing, budgeting, and workspace planning for your small business.