Lots of business owners succeed, lots of businesses are doing some great things and achieving their goals.On the flip side there is whole other bunch that are not doing so well. You probably know of some.
If business was like the Olympics or the World Cup, most countries would struggle to consistently qualify. The statistics confirm that the large investment of resources by lots of people does not deliver the results that most seek. And then there is the opportunity cost and huge social and personal implications for those that don’t succeed. Tragic.
There’s a pattern – and it’s not always clear, but like those crazy mazes if you look hard enough it’s there.
Aha – now I see it! – More profitable, valuable and enjoyable.
That’s the three amigos.
Imagine having a business that ticked all 3, consistent with your specific goals and objectives. Not mine but yours. Once you have those three consistently humming and aligned, you really have something that will win the hearts, minds and dollars of your target audience. And everyone involved has way more options. Fact.
One is good, two is cool and all three is pretty amazing. It will be the leading business in the segment, by any standards. You will know and admire businesses that are profitable, valuable and enjoyable. You will buy from them, you will want to be part of them, invest in them, follow them… They will be succesful.
Ok, so let’s say your business is profitable but not truly valuable – it is on paper, but you don’t have loads of buyers knocking down your door, wanting to buy you out at a price you would be thrilled with. Or else the offer is not on terms and conditions that suit all stakeholders.
Or maybe your business is profitable and valuable, but is not a whole lot fun… perhaps not all of the board is aligned, or you are having trouble attracting and retaining the right people, or not connecting with your customers as well you would like. Your target audience is not fully engaged or it’s a struggle… sound familiar?
It’s often the more enjoyable bit that many people relate to and want more of . And it’s the bit they haven’t got right.
The challenge is to create & build a great culture, developing the emotional connection
that is required with all of your stakeholders, to succeed over the longer term.
Look at the businesses that are truly succeeding – on many levels and that are sustainable. They will have all three firing and running smoothly.
They will have a brilliant vision and point of difference that all of their stakeholders will have bought into. Their passion will shine through and you will passionate about them, their
products or services.
That’s why two out three isn’t enough.