Every day businesses thrive and at the same time businesses struggle.
So how do you ensure that in this sea of small businesses, yours isn’t the titanic?
The answer is probably simpler than you think …
It all starts and ends with you.
Start by asking yourself: How significant is your vision and mission when it comes to your entrepreneurial venture?
As an entrepreneur, your vision is what ties your business together.
If you don’t have a vision, or it’s not clear on where you want to take your business, it will be all the more difficult to keep your boat afloat.
Weak visions result in two schools of thought. Either your idea list is too long and you’re spending your time accomplishing half of each concept OR you’re spending all your time on one idea and not gaining any traction in the process.
Both of these plans of attack are the results of a lack of vision.
To prevent that, I’ve put together 3 ways to define your entrepreneurial vision and start making waves instead of just riding them out.
Define Your Strengths and Weaknesses
The greatest skill you’ll ever have as a business owner is the ability to be honest with yourself and your skill set – or lack thereof.
Create a personal SWOT analysis and define where your strengths, weaknesses, opportunities and threats are to your progress.
Taking stock of what you’re capable of creates two opportunities:
- The latitude to leverage your strengths and act on them
- The chance to get ahead of your weaknesses by outsourcing or upskilling before they become a problem.
By setting a clear list of expectations for yourself, you’ll be able to see where your business is going and more importantly what you need to do in the interim to get it there.
Determine Your Motive
Ask yourself: Why did you start this business?
If you’ve ever thought “Because of the money” I’m telling you now, that’s a very slippery slope to go down.
I’ve seen it day in and day out, entrepreneurs starting businesses for the wrong reasons and failing hard at the end of day.
Your motivation should be one that drives you to want to make a difference in the world or fulfill a gap in the market.
If you don’t know why you’re doing something then you’re not going to do it right.
Motivation is what drives your conviction and strong convictions lead to strong visions and successful businesses!
A clearly defined motive will be critical to your success. Think three to five years into the future, is this what you want to be doing? What is pushing you to get there? That’s your motive.
Identify Your Inspiration
This might sound like finding your motive, but it goes way deeper than that.
Your inspiration will guide you through each step, where your motivation will guide you through your entire entrepreneurial journey.
As your business grows, you will change your inspirations and desires.
You may start as a business that manages social media for other businesses, then as you grow and gain more success you might then adapt your inspiration to teach others how to manage their own social media through courses and coaching.
It’s important to know now what you desire to accomplish.
It can be easy to go off on a tangent of all the other things you can add to your business but some of these won’t add any value to your current vision.
Knowing your inspirations will help you create a focused list of offerable products that are authentic and valuable to your consumer base and vision.
So where do you go from here?
Put these guides into motion because to change the tide you need to have a plan and know your direction.