5 MUST-ASK Questions When the Going Gets Tough

How do we know that things are not good? The biggest red flag about it is: lack of money coming in. But there are others: like lack of motivation, loss of vision, unable to meet plans or deadlines. Any time you see those signs, stop, and ask yourself those 5 questions:

1. What does money mean to me?
We all pay bills, eat food and pay taxes. When it comes to our business, though, it’s first function is to cover those expenses. Many business owners stay for years on that break even point – they don’t get rich, they don’t get poorer but at least they have the chance to do what they like to do and are good at. But this is not what business owners answer when they are asked how much money they want to make in their business. The real question here is: let’s imagine you get those money, what will they buy you: prestige, love, security?

2. What do I want?
What do you want you business to look like, what products to have, where do you want it to be in 5 years. These are all questions we rarely find time to think about. Yet they are vital to all one person businesses. Constantly checking the “what” in your business gets you very clear on your competitive advantage and that is that sells your products and services. The “how” can come later. If you have a revolutionary idea it’s Your idea that is worth tons of money. How to patent this idea comes after the idea was born not before it.

3. How do I track my results?
Measuring your progress is another key in getting through whenever there’s difficulty in your business. Unless you keep track of how you’re doing, you won’t be knowing where you are. Hence, you can’t really tell what went wrong if things don’t go according to plan and most importantly, you can’t really amend your actions so that you get back on track or you take a new road. Measuring your results is your assurance that your business will either go according to plans or that you will be able to find the problem and fix it.

4. Where’s my WIIFT?
As clients we are all about – what’s in it for me.: where’s the better price, where’s the better quality, where do we feel good buying from. Successful businesses put the client first. Their payoff is that the client is happy with the product and services they offer. The more the client is happy the more revenue comes in. So, if things are not so good in this department, how are you treating your clients? Do they receive the respect they deserve for choosing you over your competition?

5. Did I ask for business?
Working by your self, or with a selected few, for yourself is not easy. You fulfill all kinds of positions- from the CEO to the mailing office. Sometimes, entrepreneurs get so much caught into trying to fit in all the things they need to do into the 24 hour day they have that – the income generating tasks get pushed aside and delayed. This is a big mistake. All income generating activities need to be 1st thing in the morning because this is where you get your money from. You have to market, you hate to sell.. and so what? I’m sure you hate to not have any business MORE than selling.