On the path to business reinvention, there is one powerful question to ask yourself that never fails to generate great ideas (or freak you out completely):
If you could recreate your business all over again, what would you do differently?
Imagine for a moment that you were going to create the same (or at least similar) business you already have, but that you had to do it all over again from scratch.
- What would you do differently this time around?
- Would you pick the same target audience?
- Would you sell the same products and services?
- Which marketing techniques would you keep and which would you dump?
- Who would you want to join you on this journey?
- Would you work the same hours?
- Would you be in the same physical location?
- Would you have the same financial model?
Here’s the best part about business model reinvention: you get to choose to change or keep every aspect of your business and marketing model, based on the years of experience and the vast knowledge you already have about running a business.
So, what would you do differently and what would you keep exactly the same?
This last year I have been going back and forth about focusing my coaching on Woman in Business. I really feel pulled to this group and I find myself second guessing. Should I, should I not… I am going to sign up for your Nov. event. I am ready and excited.
Corinne McElroy
Edge Of Change
I’m so excited for you, Corinne! Getting clarity on the target audience that you’re jazzed about — that’s big news. I’m glad you’ll be in the workshop in November, can’t wait to brainstorm about your business reinvention!
I know who my target audience is, I have 5; homeowners, paint contractors, architects, interior designers and real estate brokerage.
Now this is waaayyy too many. I have all these people in my address book and send a email newletter about my business once a month.
Last post was on my A-TEAM. I’m thinking of another mailer letting people know I ACTUALLY HAVE an A-Team. There are 4 people (who I have asked to let me use them and their company email in my letter, all 4 said yes) so, I need some help on whether this is a good idea?. I was planning on sending these snail mail so the customer would have a “special invite” to join the A-Team. ??? Thanks, Lynne
Hi, Lynne,
I’m not sure it’s “way to many” target audiences. The key is: can you connect with each target audience individually? For example, do you have your mailing list segregated by target audience? Do you know what each target audience needs and wants from you?
I’m not sure I understand your concept of an A-Team. Is this something your customers join?
Hey Karyn,
Thank you for asking the hard questions and forcing me to take a good look at my business model. My gift is helping people brainstorm ideas and strategize. I started a business which was targeted at business owners, but I find that individuals who do not own a business often need my help as well. I want to be able to target various audiences but am finding it hard to communicate all of my services on one site. Some of my potential clients find it confusing. Your about questions reinventing maybe the jump start I need. I look forward to your upcoming posts 🙂
I agree, when you have multiple audiences, you need to treat them differently when it comes to your marketing and your overall business strategy, even if you are essentially offering the same type of service to all audiences.
Let me know if there are any particular business reinvetion topics you’d like me to cover in future blog posts, okay, Lisa? I’m happy to help as much as I can. 🙂
Your title “if you could recreate your business from scratch compass: your roadmap …” is one of the purest, the only thing is the end of your post isn’t loading.
I just checked and it seems to be loading for me, Bryce. You might want to refresh your screen (View/Refresh) to make sure it loads correctly for you.