As an entrepreneur, your job is extremely complex. You need to be the creative one. You need to be the boss. The vision of your business needs to be the driving force behind everything you do for that business. But, today isn’t everything.
As a business owner, you must remember the fact that the long term goals and processes of your business can only be achieved if you plan for it now.
You have probably heard people tell you that you need to, “live in the day!” As an entrepreneur, this is not possible and should not be the way you conduct your business.
Most of the time, we would like to think that all we really need to do is to put together a business plan and hold into it. We believe that, somehow, things will simply fall into place. It has to. That’s all it can do.
Yet, from a business standpoint, there is much more to consider. For example, your employees may need funds generated from your business for their day-to-day expenses.
You may need to take into consideration the overall benefits that of keeping your business going. What about your assets? Do you have enough to cover your expenses when you are not making profit? How about your cash flow? What will happen if something does go wrong?All of these things are just the tip of the iceberg when it comes to running a business for the long term. The bottom line is that you need to consider what your business will be like today as well as ten, twenty even fifty years down the road.
Before we get too far, it is essential that you understand these two important concepts:
1. When I make this decision, what are the short term and immediate effects of doing so? How does this affect my business today?
2. When I make this decision, what is the long term effect of making this choice? How will this decision affect my business months and years from now?
When you take the time to carefully consider decisions that you make today, you put yourself in charge of your destiny.
If you allow the chips to fall where they may, you may not be in business six months from now. Ask yourself what steps you can take right now that will make your business better in the short and the long term.
Of course, we should mention that there is never guaranteed method for predicting the future. There is no way to know if you are really making the right decision or not. But, what you have to do here is to ensure that you put yourself in the best possible position to succeed. Don’t let it just happen, make today count for tomorrow and tomorrow’s tomorrow too.
As a business owner, you must remember the fact that the long term goals and processes of your business can only be achieved if you plan for it now.
Most of the time, we would like to think that all we really need to do is to put together a business plan and hold into it. We believe that, somehow, things will simply fall into place. It has to. That’s all it can do.
Yet, from a business standpoint, there is much more to consider. For example, your employees may need funds generated from your business for their day-to-day expenses.
You may need to take into consideration the overall benefits that of keeping your business going. What about your assets? Do you have enough to cover your expenses when you are not making profit? How about your cash flow? What will happen if something does go wrong?All of these things are just the tip of the iceberg when it comes to running a business for the long term. The bottom line is that you need to consider what your business will be like today as well as ten, twenty even fifty years down the road.
Before we get too far, it is essential that you understand these two important concepts:
1. When I make this decision, what are the short term and immediate effects of doing so? How does this affect my business today?
2. When I make this decision, what is the long term effect of making this choice? How will this decision affect my business months and years from now?
When you take the time to carefully consider decisions that you make today, you put yourself in charge of your destiny.
If you allow the chips to fall where they may, you may not be in business six months from now. Ask yourself what steps you can take right now that will make your business better in the short and the long term.
Of course, we should mention that there is never guaranteed method for predicting the future. There is no way to know if you are really making the right decision or not. But, what you have to do here is to ensure that you put yourself in the best possible position to succeed. Don’t let it just happen, make today count for tomorrow and tomorrow’s tomorrow too.
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