What Business Model are you Driving?
I was reading an article the other day about healthy eating. The author encouraged readers to imagine their body was a luxury car, explaining that no matter how much we ‘drive’ our bodies, if we’re not filling it with good fuel it wouldn’t reach optimum performance.
That made sense to me. I suppose if I had a luxury car I would make sure I maintained it regularly and didn’t fill it with cheap, nasty petrol. While I was pondering this, I realised that maintaining a business covered similar principles to maintaining a car.
You’re not exactly going to skimp on expenses if you just bought a new Porsche. But perhaps if you have a little runabout you wouldn’t mind getting the windows washed at the traffic lights occasionally. What model business are you driving? Are you targeting large corporates with big budgets and need a luxury model with all the optional extras to convey the right impression? Or are you the family car that charges a more reasonable price and can fit lots of smaller clients in the backseat?
The purpose of your business will determine how much you drive it, where you drive it and of course how well you maintain it. If you are looking for some extra cash while the kids are at school, you won’t want to take on too many clients, so your marketing is likely to be via word of mouth and social media. If you’re looking to grow your customer base and perhaps your staff, you’ll need to be a little more aggressive with your plans. Knowing your purpose, or why you’re in business in the first place, makes it easier to develop your product, find your audience and tailor a marketing plan to achieve your goals.
What level of care are you giving your business? Are you feeding it cheap fuel and harsh products, when you know you’ll need it to support you for many miles to come?
Whether you invest in training, equipment or resources, how well you maintain your business will determine it’s longevity.
Do you know what model business you are driving? Can you afford the maintenance?