Looking at your business model through fresh eyes
If you could create your business from the ground up where would you start and how different would it be to the business you run now? asks Brett Davidson, CEO, FP Advance
Imagine if your business had dissolved, you had absolutely nothing and had to start again totally from scratch, what would you do?
How would you rebuild the business? You now have the blank canvas you have sometimes wished for. What would you create?
Would you do it exactly the same? Would you just make minor changes? Would you take a totally clean sheet approach and build something new, fresh, 21st century, and inspiring (for you and your clients)?
If you could let yourself go wild – taking the business where you wanted it to go – what are the possibilities open to you?
This is not as crazy an exercise as it might appear. By contemplating how your business might look from scratch you get to think outside the old constraints. You can be the master of your new destiny. Doing this exercise, really pushing the thought envelope every way you can, can create some amazing new thinking and be really exciting, for a while…
Then what happens? Usually all the practical constraints come flooding into your brain. Oh yeah, but what about [insert a business blockage here]? And what about…etc, etc. Don’t get stuck in the blockages because they are not real. I know they feel real enough but they can all be overcome, it just requires some free thinking.
Here is what comes up for me when I allow myself to do this exercise:
The ‘new’ business ideas on the blank canvass really excite me.
If I refuse to let the blockages in (remember there is plenty of time to consider them later) I can often see how some of my free form ideas could actually be incorporated into my current business.
If I think a bit harder I can almost see some steps I could take to transform the current business I have into the one I’d really like to have (this is the really exciting part).
A new business roadmap
You can now map out a new way forward from where you are currently. You don’t need to go bust or start with a blank canvass to create the business (and the life) of your dreams.
Even just reading this article, you may have come up with some ideas. Maybe it’s
• Working with different types of clients
• Providing a new range of services (broader or narrower than you do currently)
• Positioning yourself as an expert
• Dealing with underperforming staff member/s
• Splitting from your business partner/s
• Getting some new business partner/s
• Merging with or acquiring another firm
• Selling off an underperforming segment of your business.
You will know some of this stuff already, but doing the exercise can really bring it to the fore, providing you with the impetus to take action.
But, of course, it’s not the things you think up that get you there, it’s the things you actually do.
If there are multiple steps, break them down into smaller and smaller actions. The first one should take less than five minutes to complete (make it that small). Once you get going it is amazing how that momentum builds.
Visit the FP Advance website