Are you in control of your business direction, or do you allow the market to dictate your work and vision?
A friend of mine, Greg, was owner and partner in a mid-tier CPA firm. An experienced business owner with an extensive network, he had big contacts with big companies. He quickly found himself doing audits for large oil and gas companies, and his business grew extremely fast. With a focus on audits presenting itself as an obvious focus, Greg built his business structure around auditing and hired accordingly.
And then, Greg found himself in Eastern Europe for an audit over his birthday. Celebrating with his work team halfway across the world quickly brought into focus what was most important to him, and he called his wife to tell her, “I don’t want to do this anymore.” After completing that audit, he returned to the States with a plan to change his business direction toward tax work. The employees that were capable of this gear switch were kept, and he helped his highly-specialized employees to find new jobs.
In retrospect, Greg identified that his initial lack of intentional direction left him willing to take whatever work presented itself to him. Because auditing opportunities came quickly and forcefully, Greg let the market dictate his direction. Obviously, finding your niche in business requires listening to the market and responding to existing needs. But that doesn’t mean that the first or loudest need is the one your business should meet. If the market pushes you in a direction that competes with your values/passions/vision, there will be a disconnect that will eventually leave you frustrated and discouraged.
As a business owner, it is your responsibility to craft vision and direction, but it is also your privilege. YOU get to be in control of what your business becomes, how it affects your personal life and the impact it will have on the world.
Are your hands on the steering wheel, or are you on autopilot?
Here are a few diagnostic questions to ask yourself:
1. Do I have a clearly articulated vision and direction for my company?
2. Do I regularly return to my vision statement and assess whether the business aligns with those goals/ideals?
3. Does my work inspire me and line up with my particular strengths? Or am I taking whatever business comes my way?
4. Is vision in the back of my mind when I hire? Or am I hiring based on market pressures?
If you find your business has drifted from your vision, take a cue from Greg and put your hands back on the steering wheel. It’s never too late to regain control of your business direction.
