Everyone wants their business to grow and everyone wants to make as much money as possible in their business. If they didn't, they wouldn't have started the business in the first place.
Copyright (c) 2009 Soaring Eagle Companies LLC
Everyone wants their business to grow and everyone wants to make as much money as possible in their business. If they didn't, they wouldn't have started the business in the first place.
Starting a new business can be a long and trying process. It can also be expensive and it may take some time before the business becomes profitable. However, it is important to stay true to your business. You started the business with a particular goal in mind and with particular products. You developed this great business plan based on those goals and ideas. Maybe you even attracted investors with those ideas. And, actually, things are going well. Then it happens. This great new product comes your way. It has nothing to do with your current business, but it has great profit potential. So, you decide to add it to you current line of products.
Suddenly everyone is confused. These new products have nothing in common with the old ones. Your customers can't quite figure out what is going on. If you have distributors or sales people in your business, they are confused as well. Their customer-base wasn't developed with these products in mind. In fact, their customer base was developed with totally different products and ideas. Even though you are still selling your original product, the addition of the totally new and totally unrelated product can throw doubts into people's minds. Is this company eventually going to stop making the product I like? Why do they have this new product? Is the company going to change completely?
Why add something totally unrelated to a successful business? Why not start another company for those products? You can certainly offer both to your customers and distributors, and you can even use the same successful business model for the new company that you used for your original company. By keeping them separate, you eliminate a lot of the confusion and questioning. The new products that you added may not be in compatible with the reasons that someone buys your products. For example, if you are a health and wellness company and you suddenly decide to sell tires, that is certainly going to be confusing to people.
People certainly understand when a company wants to take advantage of a new opportunity, but they also worry about losing the good thing they already have. Stay true to your mission and who you are and the profits will follow.
This type of personal coaching is about being and doing your best-about time and goal management-about peak performance-about achieving higher levels of business or professional success.
Recipe for Trouble:Documentation (or Lack Thereof)
We all like to trust people and we would like really be much better of if people always did what they said they would do. But we all know that this is not always the case. If you are a business owner, you can find yourself in deep trouble if you do not document.
Recipe for Trouble: IT
Depending on how dependent your company is on computers, IT (or information technology) can be your biggest ally or the biggest thorn in your side. While people tend to refer to IT for anything that involves computers, information technology can encompass a very large variety of business needs from servers to websites. There is no one-size-fits-all IT professional any more than there is a one size fits all employee of any type.
Water is Water Right? Wrong!
We all know that we should probably be drinking more water. We have all heard the health benefits staying hydrated. But we get busy and we forget to drink. So we stop by the drinking fountain and take a quick sip or hit the office water cooler and we think we are getting the hydration we need. But hydration is not even enough. We also need the proper trace minerals.
