Seven Questions to Ask About Your Business
Asking questions is an important part of learning. If you want to learn about your business, you need to ask questions about your business.
When you are in the middle of making your business work, it is easy to lose track of the big picture. When you lose track of your big picture you and your business are in danger of going off track on tangents that won’t further your end goals. Here are six questions to help you remember what it is you do and what your business needs right now and in the long-term.
1. Why are you in business?
There are lots of reasons to start or own a business. Understanding why you are in business or what you want from the business can help you make decisions regarding your goals and business plan.
2. What do you do for your clients?
If you don’t know what you do for your clients, you will have a hard time explaining it to them. Make certain you are clear on what you do for your clients, including the benefits you offer them.
3. What is your competitive advantage?
In other words, what do you or your business do better than other businesses? This answer can help you determine what to focus on and how to differentiate yourself from your competition.
4. What are your weaknesses?
Identifying your weaknesses can help you decide what you need to work on and which tasks you shouldn’t be doing. Understanding your weaknesses can help you figure out how to mitigate them.
5. What threats does your business face?
If you identify threats to your business you will be in a better place to figure out how to mitigate them. It can also help you recognize when those threats start affecting your business.
6. Is there any reason you don’t want to focus on your business right now?
Sometimes distractions can tell us something. Think about whether you are letting yourself get distracted as a way to avoid something. Try to identify if there is a reason why you are becoming distracted, are you bored, frustrated, burned out, tired, discouraged or afraid? If so, think about why you feel that way and what you can do about it.
7. What is the most important thing for you to focus on right now?
Entrepreneurs often have more ideas and plans than they can work on at a given moment. Deciding which one is the most important can help you to focus on. Picking something to focus on can help you complete projects and move forward.
It is natural to get distracted from time to time. The important thing is to be able to recognize it and get undistracted. These questions (and others) are to help you return to focus and think strategically about your actions.