Simple Wake-Up Call

What is the first thing EVERY business owner should do at the start of their business and periodically throughout?

[We recommend making this a systemised process at least every six months].

It might surprise you, because it’s NOT about staff, customers, financials, processes, sales, delivery etc…

It’s to reinforce or challenge WHY you are doing this in the first place?

It’s easy for time to elapse when running a business as the hamster wheel gathers more and more momentum, and you do everything to keep on it.

Whether it’s more sales, servicing more sales, or finding the staff to service more (or fewer) sales, and doing everything you can to get more leads and sales.

Working with hundreds of businesses and owners over the last decade, the clarity of why they are in business is a BIG determination of the business's success.

For most businesses, the current year is just a version of the previous one, two, five, or ten years.

It might be Ver 1.5, BUT it is not version 5.0.

There is no better story I know that sums this up…

A businessman is sitting on the beach of a small fishing village when he sees a fisherman approach the shore with his daily haul. Impressed by the quality of the fish, the businessman asks the fisherman how long it took him to bring in his catch.

"Just a short while," the fisherman replies.

"Why don't you stay out longer to catch more fish?" the businessman asks.

"Because this is all I need."

"But then, what do you do with your time?"

"I sleep late, catch a few fish, play with my kids, take a nap with my wife, and then join my buddies in town to drink wine and play the guitar," the fisherman responds.

The businessman is shocked. He explains that he has an MBA and that if the fisherman follows his advice, he could help him grow his business. "You could buy a bigger boat," the businessman says, "and use the proceeds to open your own cannery."

"Then what?" the fisherman asks.

"You could move to the city to open a distribution centre."

"And then what?"

"You could expand your business internationally and eventually take your company public," the businessman says. "You could sell your shares and become very rich."

"And then what?"

"Well, then you can retire, move to a small fishing village, sleep late, catch a few fish, play with your kids, take naps with your wife, and join your buddies to drink wine and play the guitar."

The fisherman smiles at the businessman and continues down the beach.

I love this simple wake-up call for business owners as we need to remember what we really strive for and sometimes will lose sight of?why we do what we do.

One to think about this week….

BW,

Martin?

Martin Norbury

Investor | Business Mentor at?Advocate ?| Author of?I don’t work Fridays