Current & aspiring entrepreneurs: What are YOUR ultimate goals in life?
We’re talking big goals – hopes, dreams, target retirement age, hours you’d like to work, where you’d like to live, impact you want to have. You name it.
The answers to these questions should guide every single strategic decision you make throughout your life.
If you’re in it for the long haul, your business strategy needs to work for YOU as much as it does for the customers you’re setting out to serve.
Product/founder fit matters.
Not sure exactly what I mean by product/founder fit?
✅ You have (or can develop) the skill sets that it takes to build your product or service… or afford to invest in the support you need.
✅ It’s a product or service that will make a sustainable profit.
✅ Last, but certainly not least, it’s an enterprise you WANT to invest your time and energy into building it.
One of the best examples of NOT having product founder fit comes from this bada** article written by Margo Aaron, an amazing copywriter and entrepreneur that ran a virtual co-working space called the Arena that she ultimately decided to shut it down for multiple reasons, including one major factor: she didn’t want to run the business anymore.
It’s okay to pivot your strategy or abandon a business idea if it’s not going to work for you. Don’t let your passion for an idea cause you to lose sight of your ultimate goals in life.
As you develop your business strategy, check-in with yourself every few months to ask: is the direction I’m currently taking my business going to align with my long term goals?
You can build a business that’s as sustainable for you as it is for the mission you’re setting out to achieve.