3 Questions Entrepreneurs Need to Ask Themselves

As the calendar continues to march toward the deepest part of summer, when people take vacation, summer camps are in full swing, and many businesses operate on summer hours, the temptation is to take it a little easier than usual. On the other hand, some seasonal businesses are busier, and others are dealing with interns — you know as well as I do that there is no such thing as a quiet time of year for entrepreneurs and small business. Upgrading your social media and technology platforms, experimenting with new forms of raising capital, and developing new products and services all occupy the mental bandwidth and time of business owners large and small. On top of all of that, the idea of thinking bigger is always held as an important task, but it can be difficult for entrepreneurs to take the time to think of ways to quantify this desire, which can make the entire process frustrating.

Just how can entrepreneurs think bigger, and see the bigger picture, in a way that can help business activities, and are not just nice sounding ideas? How can taking a step back and analyzing your business help you, in this dynamic business environment, make more cost-effective and productive decisions?

It would be unproductive to think that any list, no matter how long, of questions or items, would be able to address the variety of opportunities and challenges facing entrepreneurs. Analyzing the broader business environment, which every entrepreneur does as a matter of course, does tend to point to broad ideas and trends driving business decision making. Such ideas and concepts are not simply pie-in-the-sky ideas or concepts that sound nice, but actually can translate into more effective decision making. The ability to make the correct decisions (effective), and to do so with a minimum of waste and miscalculation (efficient) are qualities every business owner continuously strives to accomplish.

Focusing your mental energy and time can help you with these critically important issues, so let’s take a look at three questions or areas all entrepreneurs should consider.

1. What is the job of your business?

I know, this might sound like just another ethereal concept, but let’s think of it from this angle. What job or task is your business seeking to address or make easier for your clients or customers? Really taking the time to analyze and understand this can help reduce redundant decisions and unproductive use of business resources.

2. Why you are making these decisions?

Inevitably there will be decisions that you have to make in response to changes in your marketplace, customer requirements, or actions that have been launched by your competitors. That said, every entrepreneur should take at least a little bit of time to think about, and understand, just why certain decisions are being made. This is the first step to taking back control over your calendar and decision making process.

3. What are your action steps?

This might feel like a more comfortable area for you, but it is important that this step or question comes last in the big picture thinking process. Once you have identified what your business purpose is, and why you are making certain types of decisions and taking certain actions, then you are ready to make the best effective decisions for your business.

At the end of the day your business will be judged by how effectively you make decisions, manage your resources, and lead the business forward. It is certainly important to remain focused on the day-to-day implementation of operations, but it is also important to not just lost in the weeds. Taking some time to step back and look at the bigger picture of your business can help you make better decisions, deliver value to your customers, and keep you moving forward.