5 Questions Every Business Owner Should Ask Themselves

As business owners we become so engrossed in the day to day concerns of business, and rightly so! After all it is the day to day requirements of running a business that keeps the doors open and food on the family table.  Dealing with clients, dealing with staff, tax issues, bank issues – it is endless.

I recently had the wonderful opportunity to take some extended leave to recharge the batteries. While on leave I had the time to THINK. I thought about these 5 important questions in relation to my business:

  1. What is my purpose in working this hard?
  2. What do I want to achieve from the next 3 years?
  3. Is dealing with certain clients beneficial to me and my business?
  4. Why do I do certain actions?
  5. And most importantly, what do I need to change to make my life and my business better?

As I sat in one of the most beautiful places in the world, these are the questions I asked myself (Even asked the waiter for a pen so I could write the questions down).

Exploring your purpose in life is essential. So many people in life simply cannot understand why they cannot afford to do the things they really want to do. Seeking clarity around your actions will prove a worthwhile exercise.

Management of your time and goals and comparing them to what you are actually doing each day is vital. Imagine working all year on a project only to discover and the end of it, it’s not what the client wanted!  You’ve wasted your time and money, and for what?  So, why do we waste our own time every day on actions and clients who ultimately are not beneficial to your goals.

The ability to review your actions, to be honest with yourself and to make changes gives you and your business the opportunity to operate at a significantly higher level.  Most businesses only run at 70% of their full potential, are you prepared to accept that?

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