The Starting Point in Defining Your Business

 Your vision is the picture you have in your head of the course you wish to take your company. You are working toward the objective for your company. A goal is a desired state in the future. It's possible that you desire for your company to excel in your industry or to provide the best goods or services. For some people, the vision is to excel in their chosen field.



Many business owners begin by determining whether they are Income Producers or Business Builders. Entrepreneurs who are primarily concerned with replacing the income they would have otherwise earned from work are known as income producers. Typically, Income Producers in a firm of one are drawn to the independence of being their own boss. Without them, the company is worthless. The main goal of the business builder is to create a company that is valuable independently of them. You must be a manager and a leader in order to be a successful business builder.

Wendy, my wife, is a prime illustration of an Income Producer. Wendy has a private clinic for psychotherapy where she focuses on marital and family therapy. She runs her own one-woman business. Her practise is set up to provide her the freedom to use her special talent. Wendy spends 23 hours a week working one-on-one with customers. Writing reports, getting ready for interviews, continuing her professional development, and managing her practise take up the remaining hours of her workweek. Although she uses technology to improve efficiency and effectiveness, she is the main contributor to the company's success. She will stop accepting new patients when she retires. Making a difference in the lives of the people she works with is valuable in Wendy's eyes. By recognising and concentrating on her special talent, she has developed a prosperous firm.

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