This week I had a meeting with a great couple. They started their business less than 2 years ago. They are brilliant, love what they do and are very successful.
Are you doing the right things?
They had just completed their plan for next year and kicked off our meeting with: “we’re still new at running a business, so we just want to make sure we’re doing it right.”
Their plan is 2 sides of A4 and sets out step-by-step the journey to delivering customer value and pinpoints the areas for improvement. Their niche and the pipeline for generating leads and referrals are clear. Return on investment for marketing spend is evaluated, their pricing strategy is transparent and compares favourably with their competitors. They hire on potential and train their staff for skills.
A fantastic plan.
Why are you doing this?
Then I asked: “how does this plan help you achieve your why?”
Their aim is retirement at 50 and the business is the vehicle for giving them freedom to spend quality time together. However, they haven’t had a family holiday for a long time, despite talking about it frequently and last week one of them had to work despite being ill.
The light bulb went on. The one thing missing from their plan is the most important, how they are going to achieve their why.
What’s your light bulb moment?
Maybe reading this reminds you that having a thriving business and healthy bank balance are not the only indicators of success?
Perhaps, you want to make sure that your hard work doesn’t comes at the expense of your family, relationships or health?
Possibly you’re asking yourself “why am I doing this – does it get me closer to my dream?”
The truth is that the people I work with have a sound, values-based why for starting their business but they also have a compelling personal why too.
When did you last check to make sure that your business is helping you to achieve your why? If it isn’t what are you going to change?
How can you shape your business plan around your why rather than only the what and the how?
Is it time to refocus?
At the end of our meeting we were full of smiles as I left them saying “we’re booking that family holiday tonight” and you can bet that I’m going to check that they follow through!
So for all you busy, over-stretched business owners and leaders, what you need to take from this experience is – remember why you are in business and stay focused on how the business is helping you to achieve your why.
In the words of Simon Sinek:
“Happiness comes from what you do. Fulfilment comes from why you do it.”