Taken stock, surprised you have achieved your long term goals? What next?
John Nelligan
30-03-16Business owners work hard and grow their business. After a period of time something often happens which causes them to take stock of life and they suddenly realise they are bored with what they are doing – they have achieved their goals but have been so busy working towards them they did not realise, so what is next?
Many small business in the UK comprise of owners who has built up the business and is making a reasonable living. They have surrounded themselves with a number of good reliable staff. By a mixture of good fortune and responding to the markets, they have a business model which is almost self-perpetuating.
Often something happens which causes them to take stock and they suddenly become aware of what they have created. They also realise they are missing the challenge of working towards a goal which they had when they first started the business. These owners have in fact acquired a set of skills which they are not really conscious of and are on need of a new challenge. So what should the do?
There is no simple answer but one way to start working out the options is to try and visualise what you would like to be doing in 5, 10 and 20 years time. From this a personal survival budget can be established and at least a base line income derived. There then becomes the decision as to what to do with your time and what excites you. With the accumulation of knowledge, experience and resources acquired the goal is likely to be to orchestrate something which excites you. Setting a new goal is probably more difficult than the one you set when you said you were starting a business, but the implementation will be easier than building that first business.
For those who have yet to have the defining moment when you realise you are bored, consider ways to expand your business into new services which will help keep you stimulated and help build the value of the business. If you would like to discuss generating a new exiting vison please give me a call – 07973 423844
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https://www.businessdoctors.ie/business-confidence-up-or-down/" rel="bookmark" title="
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The Institute of Chartered Accountants in England & Wales (ICAEW) publish a quarterly UK Business Confidence Monitor and Q4 2019...
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Find Your Purpose Your Core Purpose should come from a mix of what you love, what you are good at,...
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Three resolutions that you can make to improve your business in the New Year by Planning, Formalising, and Reviewing all...
