The Magic Answer…

Through my years and experience with business consulting, I am always surprised by peoples quest for the “Magic Answer”. It’s as if a single answer will transform a business into an overnight success. I’ve had clients in the past ask me, “What should I do”? As much as I want to jump in the drivers seat and give them the “answer”, the truth of the matter is that rarely is there a definitive answer for many of questions you’ll have and problems you’ll face as a business owner. I’ve been accused of being vague and ambiguous but that’s simply not the case. Here are a few common questions I’ve heard over the years, all of which have a recipient on the other end looking for the an absolute answer:
Do I need a Business Plan?
How much money do I need to start a business?
How important is a website for my business?
Do I really need marketing?
Should I advertise?
How do I project how much I can make?
How hard is it to find an investor?

A lot of times these questions are impossible to answer without having a solid business model to stare at and analyze. I like to ask 3-5 questions for every question. That gets me closer to where I want to be, for example:
Do I need a Business Plan?
1. Do your competitors have a business Plan?
2. Are you financing it yourself or looking for investors?
3. What will the bank need to see in order to fund you?
4. Hove you done all of the proper research needed?
5. How will operating without a Business Plan affect your business?
(See where I’m going with this…?)

The point is this, there is NO MAGIC ANSWER, but there are a heck of a lot of signs along the way. Keep your eyes and ears open. Always ask questions and you’ll eventually find your answers…

TM~

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