3 Ways to Decide Your Next Business Move
I do a lot of consultations in my business. Most of the time, small business owners come to when they don’t know what their next business move is. In fact, “I don’t know what to do” is a sentence I hear a lot.
In this age of social media, we also have shiny object syndrome. This means we see people doing all of these different things, and we assume we have to do them too. This leads to either a lot of confusion or burnout. Either way, you’re probably also broke.
I understand because it happened to me too. I tried starting a group coaching program before I was ready because I saw other people doing it. I tried writing, coaching and affiliate marketing all at the same time. While now it’s okay, the truth is I should have focused on one thing at a time. Here’s how you can decide your next business move.
Do you actually want to do X?
The first question I now ask myself when determining my next business move is whether or not I actually want to do it. By asking this question first, you can eliminate a lot of options.
For example, I don’t want to do live events. I don’t even want to deal with it.
Is everyone else doing it? Sure. Are they making money with it? Maybe. But it seems like more trouble than it’s worth to me. I’m also not a detail oriented person by nature so live events sound like a nightmare to me.
What does your market want from you?
The next question when determining your next business move is figuring out what your market wants for you. For example, I wrote my book because that’s what my market said they wanted.
I try to take all of my cues from my audience and market. I also teach my coaching clients to do the same. Unfortunately, many business owners forget that their market can provide them with a wealth of information. Because, let’s face it, it’s more fun to take IG photos than it is to do market research.
How are things going right now?
Are you content with your business right now? Then your next business move may be to do nothing.
For example, I don’t have any massive launches planned for this year. That’s because my business is exactly where I want it to be. I have plenty of content marketing clients and my group coaching program is selling. At this stage, that’s all I need.
While I do have specific goals, they are really just expanding on what’s already working. This is far different than having to launch something new or do a massive campaign because other people are doing it.
Planning your next business move needs to actually make sense for your business. Otherwise, you spin your wheels and waste resources. The best way to figure it out is to eliminate options and do what your market wants.