GALT Consulting LLC

HAPPY NEW YEAR!  It is a new year and a new decade and I hope that you are ready to gear it up.  If 2009 was the "Year of Fear", 2010 will be the "Year of Passion"!  It's time to get to work.  Here are 5 questions that you should be able to answer related to your business going into 2010.

1) What are you Passionate about?
All too often, we separate "business" from "personal".  However, this is a critical mistake.  We will spend 40% of our lives at work, so why wouldn't we apply the same passions and values we have in our personal life to our business?  Great businesses know what they are passionate about and they focus on this passion.

2) What are you Good At?
Sometimes it is tempting to focus on the weaknesses within your organization.  However, you should really put everything in terms of your strengths.  What strengths are you not utilizing?  How will your strengths position you in the market?  Working within your strengths is like swimming with the current.

3) What Value do you provide for Others?
Business owners often get so focused on the nuts and bolts of their business, that they forget the real value of the products and services they offer.  As my good friend Brett Curry says, customers don't buy products and services, they buy value.  McDonald's doesn't sell cheeseburgers, they sell consistent convenience.  Harley Davidson doesn't sell motorcycles, they sell the feeling of freedom.

4) How will you tell others about your Value?
You may have a great product or service that your customers find very valuable, but are you getting the word out?  Many business owners rely on being "trappers", which can work for established businesses or for businesses with unusually high demand.  However, it is healthy for every business owner to spend some time learning to be a "hunter".  How will you get your message out?  What is your message?  (hint: it is related to the answers of the 3 questions above).

5) How will you Make it Better?
Every business in the world can become better at what they do.  This means becoming more efficient (without sub-optimizing... that is another article), providing better service, improving the product, finding new ways to provide value, assessing the market, etc.  Where do you start?  Start with your people.  Ask your people where the opportunities lie within the organization.  Ask your customers why they use you and what you can do better. 

If you and all of your people know the answers to these five questions, your business will be in for an exciting and prosperous 2010!