INSIGHT business coaching
Business 101: The Foundation Four questions every business owner should be asking themselves on a regular basis BY JAMES HOLLOWAY
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n the business world, technologies and methodologies constantly evolve and change. However, the solid foundations and principles that build those businesses tend to remain constant.
The parable of the “two builders” comes to mind. If you are familiar with the story, you know that both builders had the same level of knowledge and access to the same materials. However, one builder built his house upon cheap, easy-to-access sand. The other builder built his upon costly, hard-to-reach rock. When the rains came and the waters rose, the house built upon the sand was seriously damaged due to its poor foundation while the house that was built upon rock was still standing after the storm passed. So what are the foundations needed to create a new business, solidify your current business or enhance the speed of your grow-
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ing business? It will be different for each business and business owner, but it starts with these four questions.
Question 1: Where Are You Now? You have to know this before you can even think about going anywhere else. In your car, your GPS has to pick up the signal before it can properly guide you to your destination. Do you know where you are? If you already have a business, what kind of numbers are you producing every month and how much is going out the door in terms of expenses and investments in the company? If you are looking to start a business, why do you want to do so? Is it a last resort because you can’t find a traditional job in the field you want, or is it something you’ve always wanted to do? What is your attitude toward business?
