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Get What You Expect From Going Into Business
People go into business for a whole range of reasons.
Some people do it because they’re frustrated working for someone else, or they can’t get a job doing the work they like. Many want more money, more freedom and more control. Others want to follow a dream, or to challenge themselves to achieve success.
What was it for you, and is your business delivering what you were looking for? If not, are the reasons still important? If they are, what can you do about it?
Why not take a test to see whether or not going into business has delivered for you.
The table below sets out 15 of the most commonly mentioned reasons people give for going into business. Ask yourself:
• has this become a reality for me?
• if not, can I still make this a reality and what do I need to do?
(Add any other reasons you had that are not on this list?)
So what if a whole lot of the reasons you originally went into business haven’t become a reality for you? What can you do about it?
One approach might be to develop a detailed vision for how your business and work/life balance would look in the ideal world. From this you can develop a new set of business objectives which you can define in the context of your personal goals – and vice versa – to ensure your business and personal goals are (and remain) properly aligned.
These goals can be stated in a way that reflects your specific expectations, and wherever possible they should be measurable. For example:
• financial rewards might equate to an annual salary level, a return on investment, or an hourly rate of pay; and
• success might relate to building the business to a defined level, or winning certain awards.(Of course, all these goals have some interdependency.)Once the detailed vision and the business and personal goals are defined, you can develop strategies for making them a reality and put them all into a business strategy plan – hopefully a plan on a page. Then go about taking the necessary action to make them a reality.