Martyn Jones, an expert on simplifying leadership and governance for business owners, explains how you can restore your confidence by making sure to have a very clear vision of where you’re trying to get to with your business and personal lifestyle.
If you already have a clear, detailed vision (and I mean REALLY clear and REALLY detailed) of where you’re trying to get to with your business, then each time you need to make a decision, ask yourself another question “Will this course of action get me nearer to that vision?”.
There are only three possible answers:
If, on the other hand, you don’t have a very clear vision of where you’re trying to get to with your business, then now is a very good time to take yourself away, sit down with a notepad and pen and seriously think about how to position your business to provide your desired lifestyle.
Every business owner should have a very clear vision of where they are trying to take their business, otherwise how will you know what you need to do to get there, or how close you are to achieving your vision, or even how far you’ve come?
I take the view that your business is purely a vehicle to get you to the lifestyle you dream of. Like any vehicle, you probably wouldn’t get in and drive it if you hadn’t the faintest idea of where you want to go. Why would running a business be any different?
It’s not. So, what you need to do is create a visual mental map for yourself and where you’d like to be, and how you visualise your life to look in a few years’ time.
This is easier said than done. Planning things properly, takes time and thought, and quite possibly longer than you imagine. It will also often involve more input than just your own. You’ll need to take account of how many days you plan to work and how long your working days will b.
You also need to think about what you’d love to do when you’re not working, where you’ll live, how many holidays you’ll have and where you’ll go.
What about your family and their aspirations? Ask them (and don’t argue back). After all, don’t you want your business to provide for them too? Like I say – dream big – average won’t get you excited!
Next, work out how much you need to earn from the business to provide that lifestyle you dream of. We’re not talking about turnover here. We’re talking about net profit which is what provides you with your income.
Now you need to imagine what your business will look like when it’s earning you that amount. What work will it be doing? Where will it be doing it? For whom? Who will be looking after things while you’re on one of your holidays?
Then you formulate a project plan to make it happen and just follow your plan.
Sounds too simple? Well, business doesn’t always have to be complicated.
About the author
Martyn Jones is an IoD Certified Director and holds a coveted Diploma in Business Direction as well as a Professional Certificate in Management and is a full member of the Institute of Directors.
His work experience is extensive, having worked in and with companies of all sizes from regulated FTSE100 giants such as United Utilities and Electricity North West to ambitious, fast growing SMEs as well as charities, educational establishments, and professional bodies.
Martyn operates his own consultancy business and offers expert advice on simplifying leadership and governance, enabling entrepreneurs and small businesses to establish best practice and sustained growth without unnecessary complications. He is a member of Boost & Co, which includes additional private sector organisations that can help businesses grow.
Boost is helping Lancashire businesses thrive.
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