As business owners, one of the tasks we often overlook is to stop and think about why we’re in business. Sure, we know we have to market, sell, produce, and deliver our product. That’s a given. Why we do what we do gets short shrift in the process. That can have an impact on the entire operation of our enterprise.
Perhaps the most critical element in our business is the reason we are in business to begin with. Some of us started our venture in the hopes our children would have an interest and want to take over some day. Some got lucky and found a niche that hadn’t been filled yet and are now the cat’s meow in that industry. Quite a few Baby Boomers want to enjoy their retirement doing something they’ve always wanted to do. Why did you get into the business you’re in?
Here’s why the answer to that question is so important, and worth revisiting every six months or so: The reason you are in business becomes your mission, and your mission is conveyed to your employees, customers, and the public as the vision and public persona (if you will) of your company.
That vision becomes the engine that drives your business. As you will find in the Small Business Owner’s Guide to Marketing, your mission defines the products and services you offer and to whom you offer them. It clarifies your position in the market and identifies strategies for marketing what you do to the consuming public. And, as you look at it in terms of your life’s contributions, it also outlines an exit strategy for eventually getting out of the business to enjoy retirement.
You may think retirement would drive you crazy, but your spouse may want you to reconsider that option. That’s another reason to think about why you’re in business today.
Take the time to think things through.