Where are you going?

What is your vision?  What is the point of your company?  I have found that the way you answer these questions tell me a lot about you.  People that have no clue where they want to go with their company usually fail.  In undergrad, during one of my marketing classes my professor said that 9 out of 10 new restaurants that open in Tulsa (where I went to school) during the year will close.  That is a staggering number.  It’s crazy too because throughout the year you’ll see new restaurants open and close all the time around here.  Ever wonder why businesses fail?

Why do you exist?

It is because people start a company, like a restaurant, for a simple reason.  Most people don’t think past 5 years down the road.  Most people that start a restaurant do it because it’s something they love.  The problem is people decide to do what they love, but they do it the same way that everyone else does it.  When you are a copy of others you won’t survive.  Most people that start a restaurant don’t usually think of a great way to be different than their competitors.  They figure if they make food people will come and eat.  But most people don’t go to new restaurants just because they are new.  They want something different.  What makes you different?

Vision

Having a specific vision is very important.  It’s like a map, I wouldn’t expect to drive to San Antonio, TX without looking at a map.  Sure I could hop on Highway 75 South and make it to the great state of Texas, but that is too general.  What other Highways do I need to take?  Which way is the best way to get to my destinaion?  Once I know I am driving to San Antonio I will grab a map and map my trip out (well, actually I’d probably just look it up on googlemaps, but you know what I mean).  Too many people start a business and say, “Well, I want to work for myself and XYZ seems easy enough, so I’ll just do that.”  The sad thing is they are there just to exist.  The companies that stay around make a difference in their industry.  In order for your company to thrive it has to have goals, and if you meet the goal you originally set, set another one.

Never be satisfied

I was talking with a friend last week and he was telling me about a specific company that just a few years ago was the best for the services and products they provided in their industry.  Where are they now?  No where near as good.  They got to the top of their industry and became satisfied, then other companies passed them by.

What are you doing to make sure you continue to move forward?

-David