What limitations have you attached to your business?
I often speak with business owners, who have restricted the growth of their business because of limitations they have placed on themselves, often without knowing. Interestingly, in the majority of cases, these limitations are groundless. In other words, a lot of business owners are missing out on countless opportunities, needlessly!
For example, I spoke with a business coach last week, who currently limits herself to working with businesses that are based within a hundred miles or so of her physical address; even though she delivers her services remotely, via email, the phone / Skype etc. In other words, there’s no need for her to place that restriction on herself. As a result of this pointless, self-imposed limitation, she has placed a very low ceiling on the growth potential of her business.
I’m not suggesting for one second that business owners should just randomly offer every service they can possibly think of to everyone. I am simply saying that it’s crazy to ignore the benefits to your clients and yourself, of offering a more complete and valuable service, based on what makes good, commercial sense.
This reminds me of a software company I met a few years ago, which produced specialist software for the chemical industry. They had introduced a training package, aimed at helping users of their software, who wanted to get the absolute maximum from it. Within 18-months, they had created a new, six figure income stream for their business. They spotted the need and decided to do something about it, rather than say; “we’re not a training company!”
I think it’s a good idea from time to time, to take a fresh look at our business and check that we are not offering a range of services today, based on the way things were 6-months, 12-months or even a few years ago. Times change, and as they do, new opportunities and possibilities are unearthed. However, unless me move our thinking forward, it’s way too easy to miss all that great potential.
By the way, there are 32 questions here, which are designed to stimulate your mind and help you spot new opportunities to develop your business – Check them out!
I’d be interested to hear if you have developed new services or adapted your business in other ways, in response to changes you have spotted. Please share your feedback with a comment.
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