Developing a Business Mindset

One of my clients had a goal in her own business plan to “develop a better business mindset”, so I wanted to write a little about that.

For me - having a “business mindset” means asking at each business decision how that decision will affect the short and long term sustainability of an organization.  It could include asking questions like:

• How will this choice affect financial performance of my business? Will I lose revenue? Gain revenue? Spend a small amount of money in hopes of my business increasing its overall revenue?

• How will it affect operations/staffing choices? Will the decision make the “work” of the organization physically, mentally, or functionally easier? Will it require more/less labor than the current work does? Will it improve morale/performance for the team that does the work?

• If the business owner - how will the decision affect me as a business owner/leader in the business (my work load, my life, how easy or hard my work is)?

It’s assessing if the positive impact of the decision outweighs the negative impact.  The reason to choose one path over another may not just be a directly financial choice; it may improve morale – which in turn may reduce workforce turnover or improve enthusiasm and productivity of a team member.

Often – you may be trying to address a specific problem:  Too much work and too few hands/time – and needing to reduce work in areas that don’t impact your bottom line.  Morale issues in your team that are keeping you awake at night.  Wanting to reduce sales channels and not knowing which are valuable/need to be kept – or what to do if you wanted to change sales channels. Wanting to figure out where it is most important and urgent to invest your (or your team’s) time.

There is no “one right answer” to many questions. The answer will likely vary depending on your current situation, goals, intention, and needs.