Andy Lapointe wrote an interesting article called Forget the Question…Change the Answer. In it he states that “For years…business owners…have wrestled with a number of questions about maintaining and growing market share and profitability.” Questions like “How can I increase my profits?”
Andy goes on to show how over the decades the question doesn’t change, but the answer does.
For instance, take the question, How Can I increase my profits? In the mid 19th century the answer may have been: “Forget the pony express, start a railroad company.” Yet, by the late 20th century the answer to the same question might be: “Start an technology-based Internet company.”
That might work for the large corporation or the v.c. startup. But these are not the kind of questions that small business owners need to be asking.
Why? Because these questions put the cart way before the horse.
Should you want to increase your profits or gain marketshare – absolutely! But for most small businesses, gaining marketshare doesn’t need to be the focus.
So what does need to be your focus? What questions should small business owners ask themselves as they begin or look to grow their business?
It seems to me the obvious questions are “Who are my customers? What do they need? How can I add value to their lives?”
How can do what I love to serve the people who love what I do?
But then, you knew I would say that. 🙂
I like what Liz and Jean said, and I would add “What do my clients value in me?”
Stuart Baker
http://www.consciouscooperation.com
Jean,
I always ask my clients – who are you, what do you do, who do you do it for?
Liz,
Of course I did. I say something similar as well – do what you love for the people who love what you do.
Stuart,
Absolutely. That’s something that I feel gets missed by business owners all the time. Yet what business is about is people serving people – in some way. So knowing how our clients see us is very important.
Small Business owners should ask: “What are we going to provide clients that differentiates us from the competition? Why will people come to us?”