Thinking big can help you to grow your business. Picture yourself 10 years from now. What does your business look like? How do you feel?
Thinking big in business often starts with changing the way you think.
In the modern world, many businesses start small, sometimes from almost nothing. A small seed or idea is planted. The idea is nurtured and slowly over time, with hard work and dedication the idea begins to grow and a business is formed.
At this stage, many businesses will create various strategies and processes within their business. They will use the current structure of their business as the base for their decisions and plans. While this can seem like a great idea at the time, it also can really limit the potential of the business.
If you are only thinking ahead for a shorter period (perhaps 1, 3 or 5 years ahead), you may, in fact, be limiting your thinking as to what is possible. You are only considering your business as it is now - not what you want it to become.
By changing your thoughts and thinking big over a 10 year period (or longer) you will have the freedom to dream big and not feel limited in what is possible. Thinking about the future of your business over a longer timeframe makes it feel like anything is achievable.
While it can be great to think about the future, thinking about your past can be just as useful. Take the time to reflect on where you were 10 years ago. What was different from the current version of you? Your family? Did your business exist? What was your financial position? Often you will achieve more in 10 years than you would have given yourself credit for. And if it’s not all positive? It gives you the chance to reflect and set your intentions for the future.
Do you still want to be doing exactly what you are doing in 10 years from now? If not, how might this change? Will you want to have retired, sold your business, be working part-time, be travelling for 3 months of the year, scaled your business up (or down), or have grown your team and business ten-fold.
There isn’t any right or wrong answer. Your plans and your success will be unique to you and your business. What is important, however, is that unless you are clear about where you are going, it is very difficult to know what direction you should take.
Considering your individual and personal goals is also an extremely important step when thinking big for your business. In 10 years’ time, if you have a family what will be important to you, what income level and assets do you hope to achieve? How does this fit with your business?
Taking the time to think about your past and then re-directing that energy toward the future can be a catalyst to kick-start and initiate action.
Setting effective goals to improve your business is a step overlooked by many business owners. It is easy to make ‘pie-in-the-sky’ goals, but without planning, they very rarely come to fruition.
Another area that many business owners fall down is by overestimating what they can achieve in 12 months. The flip side to this is that business owners tend to underestimate what they can achieve in 10 years.
When you are setting your 10-year goals, if they don’t make you nervous, then it might be wise to check in and ask yourself if you have dreamt big enough. This is referred to as a ‘Big Hairy Audacious Goal’ or a BHAG.
Thinking big when goal-setting is only part of the equation. How you then bring your goals to life is one of the most important steps. You need to break your BHAG down into smaller, short term achievable actions.
If the thought of your BHAG is so big that you don’t know where to begin in breaking it down into smaller, short term achievable actions, then Your Business Momentum can guide you through this process.
Our friendly, qualified team of business coaches can guide and work with you to create an enjoyable life and reach those Big Hairy Audacious Goals.