When reinventing your business model, many of roadblocks spring up along the journey. One that nearly always happens is the business identity crisis: What is this business, and where is it going?
It feels as if you’re starting out all over again with incredibly basic questions. Shoot! Again? Didn’t you do this at the very beginning of your business?
Sometimes it feels like you’re sliding backwards toward square one. Don’t worry, you’re not.
It can be frustrating when you are trying to transform your business to have to question your entire business model. Truly — it’s necessary.
Here’s a great opportunity during your business reinvention process to pause and re-examine The Big Questions:
- What do you want from your business: emotionally, financially, intellectually?
- What personal values does your business reflect?
- Have your personal values changed since the last time you created your business model? If yes, what has to change in your new business model to reflect those new values?
- What brand does your business currently have? Do you need to re-brand it?
- If you re-brand it, what image/message do you now want to project for your new biz model?
- Which marketing techniques are working and which ones need to be ditched?
- Who do you serve and do you still want to serve this audience?
- And the biggest question of all: WHY am I in this business? (Maybe, just maybe, it’s time to get out.)
Business reinvention is not just about making decisions and implementing plans. It’s about asking questions, getting clarity and finding focus. You’ll be happy you took the time to ask yourself The Big Questions.
So, how about you? Which Big Question is the one that’s on your mind right now?
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Category: Business Reinvention
Tags: business model design , business model reinvention