And that’s the problem for most business owners.
They have NOT built their business around their clear definition of success.
While it’s true many business owners might have some vague idea of the amount of money they want to make, or they tell people they don’t want to work quite so hard… But they really haven’t pinned the specifics down. Their definition of success is vague and unclear. And as you know, it’s difficult to hit a target that you can’t see.
The second part of the challenge is that while your definition of success might be vague, most business owners DO NOT build their business model to achieve what it is they want. Here’s what I mean.
If you’re anything like me, you started your business because you felt a calling or a passion. I knew that I wanted to help women entrepreneurs make more money in their businesses; and I knew that I wanted a certain sense of freedom and flexibility.
And it’s true, initially, I didn’t know specifically what success would mean for me so, like many others, I built my business focused solely on the revenue that I wanted to earn from it. However, building a business this way leads to hustle, burn out and a total lack of freedom and fun! Not good!
I’m no spring chicken when it comes to business building, making mistakes and seeing others make mistakes. Over the last few years, it’s become very clear to me that when we are specific about the quality of life we want our business to support – whether it’s about the number of hours we want to work, the amount of fun we want, or the amount of profit we want to earn – then it’s easier to build a business to achieve those goals. I call this the ALIGNED Business Model. In other words, your business model is aligned with your ‘vision’ or definition of success.
Instead of a business model being driven or built focused primarily on income or revenue, it’s built through the lens of how I can best achieve my ‘vision’ or definition of success. And that’s how I now work with my clients!
The first step is having them detail their definition of success. For everyone it’s different. For one, it might be building an empire of $100 million; for another it’s a business to support her wandering lifestyle; and for another it’s about getting a kick from working in her zone of genius in a very niche market. Every single client is different but building a successful business model for each of them starts exactly the same way – with them clarifying their version of success.
So, my friends…here are today’s questions…
- Have you spent thought provoking time defining your definition of success?
- Name 3 of your lifestyle values; then ask yourself, are you working daily to achieve those values in your business?
- Do you have your Definition of Success or Big Picture Vision scripted out so that you can refer to that definition daily or weekly so that you stay on track?
- Is your business model built to achieve your definition of success?
If you know someone that is a seasoned business owner but has built a time-sucking, profit-less monster instead of a business that brings them joy and profit, I’d love to support them to make a shift so they can love their business once again!
YES, YOU CAN DO IT
P.S. More big-fish stories this week on my personal Facebook page here.