Archive for December, 2011

What’s Your True, Deep Mission?

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Does your business have a mission?

I don’t mean a Mission Statement. I mean a deep, true purpose for being in existence.

I’ve come up with this one for me and my business:

There are 21 million solo entrepreneurs in the USA, but only 9% make over $100,000.

My mission is to change that 9% to 10%.

What’s your guiding light in your business?

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Category: Business Strategy & Planning

Drop That Sacred Cow

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Do you have services or products that you love, but your customers are unwilling to pay for? Are some of your offerings no longer profitable but you find yourself resistant to removing them from your website?

In business we call these “sacred cows,” the untouchables that are exempt from questioning. Often you are¬†emotionally attached to them because you developed them yourself, spending huge amounts of time and money to bring them to the light.

Sacred cows don’t only include unprofitable or unwanted products and services. Sometimes you have a vendor or contractor who needs to be released because their quality has slipped.¬† Sometimes you need to look at tasks and processes that are ineffective time-wasters.

Don’t hold on to sacred cows: they’ll suck your business dry. During your business reinvention, look at all aspects of your business and cut things that no longer serve your customers or the goals of your business.

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Category: Rethinking Your Business
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