New Business Rules are everywhere and there are new ones each year. But good business rules should stand the test of time.
As entrepreneurs, we are constantly asked to provide a service or product. But how do you decide which additions are the best for your business in the long run? A good set of business rules will help you make these decisions.
I recently had a call with a client about this subject. She is a fantastic healer in a specific area. But she is considering creating products around growing businesses. This may seem like a fit because she mentors and trains people in her healing arts. And while it is flattering to guide others, I have to question whether this is the right thing for her business. How does this serve her/your clients if her/your focus is in a variety of places? Does the short term revenue gain mean more in the long run – than bringing your greatest gifts to the world?
I struggle with this one. Having a clear vision has allowed me to be present for my clients. By being focused I can see things clearly. It is a disservice to our clients when we are using someone else’s model without thought or insights. It is a disservice to a client to provide them with a model that is not fully serving them. It is also a disservice to us when we are constantly in creation or launch mode without a strategy. Delivering a valuable transformation requires a starting point and strategy to take them to the next level. Not your next level – but transformation to their next level. But if you are just creating something to fill someone else’s need – then how are you helping them or you in the transformation? Service is about something bigger than us. Service is about “anticipating future needs”. It is being a little rebellious.
But it is easy to get caught up in the flurry. Everywhere you go someone is claiming that this year is better than previous years. How this year you can achieve growth, positivity and progress. And that to take advantage of that you have to get on board with their new approach to an old problem.
But is that the perfect way for you and your business – to do something totally different? Maybe it is or maybe it isn't. Maybe it’s your year to continue growing in a consistent way. Only you know for sure. But, this much I do know:
The decisions that work for someone else, won’t work for your business. Unless you have exactly the same:
- Gifts, talents and experiences that they have
- Exactly the same client types, products or services and business strategy
- The same goals
Do you have any new business rules that help determine the best decision for your business growth?
I recommend having your own set of rules to evaluate the opportunities that come along. Then use these rules to make decisions about your business. Use these rules to confirm that you are working toward your vision, not someone else’s.
My business rules are:
1) What is my big vision and does this take me closer to my goal?
2) Does the amount of effort required align with the amount of revenue it will generate?
3) Do I have to do this personally or can I outsource it?
4) Can I complete this without breaking any universal laws?
If you have 4 “yeses” – then it is a go. If there are NOT 4 ‘yeses” then it is a no. Decision made!
Do you have a set of rules to make decisions by? Share them below if you do – I would love to know what works for you! And if not take these and make adjustments to work for you – just make sure they are rules that work for your business!