Dawud Miracle recently called this question The Single, Most Imporant Question You Can Answer About Your Business.
I agree.
While it might seem like the answer to the question is obvious, the question is not as simple as it seems. At one level, your business needs to make money to survive, but is that the sole purpose of your business?
It's an important question because the answer to this question determines what your business plan and goals should be.
For some, making money will be the sole reason that they are in business (and that's okay). For others, the answer is much more complicated.
Think back to when you started your business. What is it that drove you to go into business?
Was it financial need? A desire to spend more time with your kids? A perceived gap in the market?
Whatever the reason was, take a look at it again and see if that reason is still the driving force behind your business. If it is, then make your business plans and set your goals accordingly. If it is not, figure out what drives your business today and develop your plans and goals based on that.
To help you out, here are some common reasons that people start home businesses (in no particular order):
- Financial need
- Flexible schedule
- To meet a real or perceived gap in the marketplace
- Passion for a particular product or activity
- Ability to be your own boss
- Desire for wealth
Leave a comment and let us know.
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