7. Understand the big picture of your business
Meet "Benjamin" - owner of a business with an annual 7-figure revenue, and one of the most successful of my interviewees.
This was not always the case. In his own words, he had five business failures before he finally “got it”.
This was because, for too many years, he concentrated on doing what he was trained to do and loved doing. He paid little or no attention to the other aspects of business.
After all, he had always heard:
Do what you like and the money will follow!
When he finally began learning about and paying attention to things like:
- key numbers
- understanding simple finance
- understanding his industry as a whole
Then and only then was he able to scale a business up to 7-figures.
Benjamin was not alone. Many of the other members of the group confessed that they consistently pay little attention to the big picture.
This is a serious flaw in their approach to business. It is driven by the fact that they have convinced themselves that learning about business goes against the very essence of being an entrepreneur.
They studiously refuse to see the big picture of their business. And yet, they identify “seeing the big picture” as an integrated business solution that can really speed up the growth of a business.
I do not question this contradiction, because over time I’ve come to realize that in most cases, this position is really a cover for their fear of exposing their weaknesses in the area of business.
Staying in business and growing your business requires you to see the big picture of your business.
Let’s think of your business as a puzzle of many pieces which you must fit together.
A smart way to fit a puzzle together is to first become familiar with the picture on the cover of the box – the big picture.
After that you can begin to fit the pieces together. By taking this approach, you have a much better idea which pieces you will need to connect first. This will really help you to complete the puzzle in the fastest way possible.
For example, Let’s say that you decide that your key systems or “puzzle pieces” are Human Resources, Customer Service, Team Building, Personal Development and Marketing. You next have to decide how these pieces fit together to begin looking like the big picture.
When you understand the business of being in business, you can approach your business development as though you are putting a puzzle together. With this approach, you will achieve your business growth much faster than Benjamin did.
How's that for one of the best business solutions ever!