Creating Your Own Future in Business
Ever since
high school youve wanted to start a business of your own. For years youve had this dream of managing your enterprise,
overseeing the work of others, reporting to no one but yourself. Finally, after all these years of thinking
about creating and running your own business, youre starting to
put things in motion. Youve
lined up the resources, youve put together a few marketing ideas,
youve even made some moves towards quitting your day job.
Starting your own business is too important to approach
lightly. It requires that you approach this new venture with a few principles
in mind. These principlesall of which follow the broader principle
we call Dont
just do something, sit there!require you to stop,
reflect, and clarify your thinking. When you begin your business, the
clarity of your intent is everything. A muddled mind leads to muddled
results. And, at the cost of business start-ups, you cant afford
muddled thinking.
Decide what you want. Before you plunge into the world of self-employment,
its important that you slow down. Consider what, deep inside you, has caused you to take this step
towards risky independence and self-reliance. Starting your own business will challenge you in ways you can
never imagine. And you need
to be clear about your own motivations. Is independence important to you? Yes, owning your small business will bring you independence and
self-reliance, but it will also bring you accountability to your customers,
long hours on the job, and lots of time away from family and friends. You may get self-reliance when you start your own business, but
youll never become truly independent. Your customers and creditors will make sure of that.
Be clear about your vision. At
the beginning of your small business journey, you need to be clear about
what you want to create. You
need to be able to answer the question: What
do I want my business to accomplish? Its not enough to simply want to run your own businessor
even to make lots of moneyyou must have a deeper reason for stepping
off on your own. After you explore your motivation for beginning
a small business, investigate your personal vision for what you want
to build or create with the business. What significant and important contribution do you want to make
with your enterprise? How do
you want families, other companies, the community, the world to benefit
from your business accomplishments? If you cant answer this question, back up and find an answer.
It takes
energy and resources to build a business, but it takes passion
for a cause to give you the ability sustain it. Discovering your vision
and the purpose of your future business is the source of your passion. If you dont define it, it cant
move youand it probably wont move others either.
Clarify how you can change or enhance your
customers life.
Your personal visionwhat you want to create or buildis the
source of the passion that keeps you
going. Enabling future customers to accomplish or
feel something by using your product or service is what keeps the business going.
An example
of this might be running an auto repair shop. You dont dramatically
and profoundly affect customers lives just by repairing their
cars, you affect their lives by protecting their investment, saving
them money, giving them a sense of security, and enabling them to get
to work on time, every day. If you own an auto repair shop, the value you
bring to the customer is not just high quality and low cost, but assurance
that, with your shop, they dont have to worry about their car
ever breaking down unexpectedly. Your
vision isnt car repairsits giving people security
and freedom from worry. People will
pay for this.
Distinguish yourself. Given all the businesses that provide products
or services similar to yours, why should a customer choose yours? Its not enough to have passion and value-added products
or services, you also need to give customers a reason to knock on your
door rather than someone elses. Distinguishing yourself means setting yourself apart from others,
making yourself known, identifying how what you do is a cut above others. Give people a reason to seek you outand keep seeking you outand your business is more likely to be successful
over the long haul.
Prepare yourself for anything. No matter what your vision was
or how you sought to distinguish yourself to your customers, being successful
over the long term means shifting direction when necessary. One important characteristic of enduring companies is that, while
they are clear about their fundamental purpose, they are always refining
and revising how this purpose
is expressed through the business. Arie de Geus, author of The
Living Company, says that the companies that outlive their founders
do so because they are always scanning the world around them, listening
to customers, monitoring trends, observing the competition, and then
adjusting their own path into the future.
You can
only sustain your companys success if you prepare yourself for
anything. This may mean taking your business in a direction
you never imagined, seizing an opportunity that just presents itself
to you, or focusing on the needs of a new type of customer. Preparing yourself for anything may even mean
redefining your vision when what you started out to accomplish just
doesnt feel right any more.
Learning is the soul of your business. Closely related to prepare yourself
for anything, this last business principle is based on a deep
understanding that, unless you are prepared to learn something everyday
you wont be able to sustain your business for long. From where
should this learning come? From your customers, your employees, your regulators,
your diverse reading, the daily news, what you see driving to work. What we need to learn can come from any
source. Sometimes the learning or insight is obvious, often its
not.
Your long-term
success in business springs from being able to figure out what you need
to know to keep your business going and growing. This means always keeping your senses tuned into what is happening
around your business. It also
means never taking your business, your customers, or your future for
granted.
These six
principles form the core of the dont just do something,
sit there school of business start-ups that requires you to think
carefully and deeply before you begin this new direction in your life. Must you master each principle to be successful in business? Absolutely not. Success may come to you in spite of your violating any or even all
of these principles. Will practicing
them strengthen your business? Without
a doubt. At the same time, following
them wont guarantee anything. Thats one of the principles.
Remember, prepare for anything!