It seems obvious that focus would be a key to success within a business…but there are so many pieces to developing and growing a business and staying on focus is not just about the 50 foot view and keeping your eye on your overall mission. It is also about ensuring that the day to day details serve that mission and the goals you have put in place to reach your mission.
Business owners face a variety of distractions. Whether you are a solopreneur or have a team working for you, it is easy to get bogged down with accounting issues, personnel issues, corporate filings, legal matters or even just the daily processes that are important for the success of your business- like answering phones and emails. All of these activities are important, but are you the person that needs to be doing them? In most situations, your time would be more productively spent focusing on business development and income generating activities.
Being focused does not necessarily mean jumping on every opportunity. The question becomes not if an opportunity is a good one…but if it is a good opportunity to help me achieve my mission, based on my current strategies and what is happening in my businesses right now. Most people think of opportunity cost as, “if I don’t do something, what will I miss out on?”. But it is also important to consider opportunity cost of chasing something that may not be the right fit for where you are now. What are you sacrificing in this situation?
This doesn’t mean that your focus should turn into tunnel vision. It is still important to be on the lookout and be open minded to those opportunities as you just may come across one that is a game changer and you won’t see it if you’ve got blinders on.
Ask these questions to guide your decision making:
- Does this activity serve my overall mission or goal?
- Will this activity create measurable results that will improve my business?
- What additional resources will I need to acquire to effectively take on this activity?
- Will this cause me to divert resources from other activities that are currently generating revenue or contributing to the growth of my business?
- If I do have to divert resources, are the projected results of this new activity more favorable than the results that I expect to get from the activities that I am diverting from?
Your answers to these questions will help you discern if the door you are about to walk through will get you to your destination faster, or is the entry way to a labyrinth of wrong turns and dead ends!