BUSINESS STRATEGY: CLARIFY YOUR PUPOSE AND VISION
Business Strategy: Clarify Your Purpose And Vision
Planning for how to make this year your best year ever? Take some time to really clarify your Purpose and Vision for your business.
These are two of the most necessary elements for pulling your business towards future success.
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Whether it’s the beginning of a new year or we’re halfway through, you want it to be your best year ever. You are no doubt doing some planning for how to make that happen. You are doing some planning, aren’t you?MONETIZING A HOBBY INTO A BUSINESS
I’d like to recommend you take some time to really clarify your Purpose and Vision.
Clear purpose and vision are the keys to giving you a focus and direction.
Unfortunately, that’s something that is all too often lacking from small businesses. What you need to do is quite simple, but may challenge you if you’ve never taken the step before.
Here are a few ideas to help you make this your best year ever.
Clear purpose describes what you are out to cause with your business. Have you lost track of your purpose? Do you remember what led you to start or get into your business in the first place?
Three questions to ponder as you seek to re-ignite the purpose in your business:
What do you really want out of life?
What do you really not want in your life?
What would you be willing to give up in order to live the life you want?
Answer these questions honestly and build your business around the life you want to live. Talk about a purpose that would set you on fire.THE ROLE SELF HELP BOOKS PLAY IN MAXIMIZING YOUR POTENTIAL
Here’s an idea for creating your vision. Think of the absolute greatest outcome that you can possibly imagine that your best clients would really want from your service.
Build your vision around being “the resource” that works to deliver that.
Examine your values and principles and then determine what you want your business to be in the future.
Find your favorite way to relax quietly and let your mind open to dwell in what’s possible.
Imagine yourself in a private movie theater watching a movie of your future self in 10 years. As the movie ends you notice you’ve been joined by the star of the show.
Ask them any question you want about how they got to that place of great success in the movie. What were your future self’s purpose and vision?
This may seem silly to you at first, but if you open your mind up to accept that the visioning process will work, you’ll be amazed at the answers that will emerge.
JOURNEY TO FINANCIAL FREEDOM — STARTING YOUR VERY OWN BUSINESS ON A SHOE STRINGCUTTING DEBT to Invest More
The process of generating wealth, which can be achieved with even minimal income, requires commitment to basic measures. The measures that can lead to the generation of wealth, if properly implemented are highlighted below.
Budgeting
It seems pretty obvious
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That budgeting should be one of the top measures implemented to spend less and invest more.
As cliche’ as budgeting may seem, it still serves as an established means of spending less of one’s income and investing more of the income.
For budgeting to be effective, a budget has to be functional and include all kinds of expenditure, from the emergency expenses to the regular expenses.
Penalties for exceeding the budget should also be stated and implemented appropriately. An effective budget should be a proper reflection of one’s financial habits and should aim towards cutting unnecessary expenses.
Allocating funds to separate accounts
Having separate accounts, especially savings account, where different categories of funds can be kept is another measure that can be implemented to ensure the most minimal spending.
The allocation of funds to different accounts works better when measures for ensuring that the allocated funds for a specific purpose are not used for other purposes.
For example, an account where regular savings are kept should not have a debit card to ensure against undue withdrawals.
Restricting luxury expenditure
It has been well established that living below one’s means is a clear-cut method of building wealth. In achieving less expenditure and more investments, it is thus important to implement practical methods of restricting undue spending.
One of such methods that can be implemented is the taxing of such undue expenses.
Taxing these expenses increases the cost of undue expenses thus restricting one from engaging in them. For example, for every family vacation, for example, a certain amount must be put into the savings account, to balance up that expense.
Thus, whenever one thinks of a family vacation, they would consider the cost of the vacation as well as the saving equivalent and plan properly towards such expenditure.
Investing
As much as it is important to save, it is more important to invest savings. A saying goes thus, “No one ever get wealthy from leaving money in a savings account”.