Ultimately, what do you plan to do with your business?
One of the best pieces of business advice I ever received came from my mentor, Mr Jim Rohn. Jim used to say; “start with the end in mind!”
In other words, know where you are going, before you get going.
Here’s the thing: Most small business owners I speak with (and I speak with them every day), have only a fuzzy picture of what they ultimately want to do with their business. Many have no real idea at all! With that lack of clarity, it’s impossible to make the right decisions, as all planning is done in the short or medium-term at best. Moreover, without knowing your destination, how can you even know if you are on course or not?
I have spoken with many consultants and advisors, who have faced ill-health or approached retirement, only to realise that when they stop working, their income will stop too. They exchange their time for money and as such, even if they earn well, once they stop exchanging their time, they stop receiving the money.
Such people have NOT built a business – They simply bought themselves a job!
No matter what stage in the life journey you are at right now, here’s a great question to ask yourself: Am I building something that has value in itself or am I simply employing myself?
You will be amazed how things will change for you, when you have a clear picture of your end game. Decisions that were once hard, will become easy. Questions you have never asked yourself will suddenly come to you and with these questions, you will find answers that will drive you forward, with a purpose.
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Photo: Emio Me
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Great point Jim. My husband and I have been addressing this very thing while we have been creating our vision and strategy for the next few years. We have been reading some of the work by Robert Kiyosaki about the mindset around financial intelligence and he makes a similar point around are you creating a job for yourself or a business to give you freedom. It is real thought provoking stuff. So many people work for themselves believing it will create freedom yet have created jobs they are tied to. The first step in any change is awareness and I think your post does a great job of raising awarness around this really important point.
.-= Ali Davies´s last blog ..Is your Business on Track? =-.
Thanks for the feedback, Ali.
When working with a new client, I always focus them on developing something, which will generate revenues for them; regardless of what THEY are doing (or not doing.)
Hello Jim,
Thanks for this post.
I think that this is something that most people do not think of immediately, its usually when something happens in your life that forces you to stop working that it all comes to a head. Unfortunately its then usually too late to do something about it!
This is something I have been thinking about more and more recently but I am struggling to find something within my business that will earn money without me being there, so to speak. I’m not giving up though, if it were easy everyone would be rich wouldn’t they ;o)
Keep up the thought provoking posts Jim.
Jutta
It reminds me of the saying; “People all over the world are working 16 hours a day, so they can make money while they sleep
Thanks Jutta.
Great post, Jim.
Reminds me of Michael Gerber’s E-Myth Revisited book – many businesses are run by technicians suffering from entrepreneurial seisures!
Good point David!
Very good point Jim C.
I also speak with many people online who are searching on how to build a website..
My first question is: Why do you think You need a website..
Many people miss the point, worrying about everything and anything which doesn’t have merit.
Like worrying about Spamming for instance..
Anyways, So true You must “Visualize the Goal in order to set the Journey!”
Norman Flecha
STRAIGHTALK
.-= STRAIGHTALK´s last blog ..Your Designer Will Fire You, for these 5 things! =-.
Every business consultant I have ever met is basically self-employed.
Every success expert ive met is the same.
They claim to be experts yet they work the dumbest, lamest business model on the planet and retire with zip.
Just ‘sayin
I think to start without an end in mind shows you aren’t fully behind your plan to start with.
You wouldn’t make a meal by randomly buying ingredients, it’s best to know what you’re cooking first
I know exactly where I want to go and it covers the short, medium and long term.
I wan’t an ever diversifying online business that I can leave behind me as a) my mark in life, and b)for my family.
Mac.
.-= Marcus Gardner´s last blog ..Module Six and Google Traffic System =-.
That’s the key right there! I think it’s fair to say that before embarking on anything we always have to set an outline for ourselves, a vague, but a definitive outlook as a structure for our ideas!
.-= Social Tool´s last blog ..Keyword Reports 1-2-3 =-.
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