You’re working on a new business direction and you’re pretty excited about the way the development is happening. You’ve got great ideas, and things seem to be falling into place rather efficiently. Take a bit of time to examine your motivations. Once clear on them, it’s important to keep them in mind as you continue to develop a new business direction. Here are ten possible motivations for changing business direction.
1. You want to increase your business revenue and net profit.
You need to create some new profit centers and income streams. Your business has been financially stalled and you want to rev up the revenue engine. You’re not bring in the amount of business you once did, and it is time to look at what is not working and change it.
2. You’re personally bored with the way you’re doing business and need an infusion of new activity.
It’s either that or junk the whole business and become an employee. Every business owner experiences these “plateaus” of ennui where we’re tired of doing what we’ve been doing. We want change, need change and have to come up with new directions in order to stay in the business.
3. The market has changed and your business must change to meet the market.
You’re being left behind and adjustment is required. You can take this as something to cry over (nothing wrong with that), or you can take it as a challenge and see how you can be a survivor who “surfs” the next wave. How can you stay ahead of market demand and position yourself in front of the market?
4. You see a new trend happening and you want to be at the leading edge of that trend.
Technology, attitudes, economics, and delivery techniques are changing. You know that your ideas will make your business a market leader. You believe you have a feel for a trend that won’t have a lot of competitors. Look for a trend where you have unique skill, expertise or training that makes you the leading expert in that trend.
5. You want to do a new combination that no one else is doing.
You’re uniquely qualified to perform this combined service, and it’s bound to be a winner. Your current clients respond enthusiastically at the possibility. In fact, it’s even better if your current clients are driving the demand.
6. You’ve got time and you’ve got ideas and you want to use your creativity.
You see a “window of opportunity” where you can devote chunks of time to developing new business directions. You’re always ready to get some more business happening. Maybe you’re even going to work on passive income, while still giving great services to existing clients. Grab hold of that time and make the most of it.
7. You simply love business and putting your new ideas into effect.
It’s challenging and fun. You’re so full of business ideas at all times that you have a hard time choosing which you will actually do. You’re great at follow-through and turning out money makers. You love the thrill of starting new businesses and getting them profitable.
8. Your clients demand your changing.
You’re hearing more and more requests for changes, and this is motivating you to change direction. You’re excited about the possibilities and you’ve committed. You have plenty of ideas about how this can increase the value of your services to your clients and make it easier to close sales.
9. You see a “crying need” that no one’s satisfying and you’re qualified to do so.
You have observed an intense need in the market, and see that no one is addressing it or satisfying it. You have the background that makes you a natural to provide what’s needed. It’s obvious that the timing is right and you are willing to do what it takes.
10. You have a need to work in a given area in a specific way.
You believe that you have a unique solution to a problem. Perhaps your own needs or experiences are even driving this motivation. In solving this for others, you might be solving it for yourself as well. you see an unfilled need and feel called to fix the problem.
When you’re considering taking your business in a new direction, it’s important to spend some time examining your motivations. Keep your motivations in mind at all times during the process. Let them inform and guide your actions.