You might think I have gone a crackers asking this because the question is so obvious. But is it. You see, what you think you do, you don’t.
Take WOW! Advisors. Many may say we are tax agents are accountants and that is the bulk of what we do but we are not in the business of taxes or accountancy.
We are in the business of educating our clients to work less, earn more and create astonishing wealth. And that means we create a feeling we are different from our competitors.
But it is not just about differentiation. Because if you do not understand what business you are really in it could kill your business.
This podcast talks about why understanding what your business does is important and gives 2 examples of large corporations that have got bust because they did not understand the business they were in
Here’s why you should listen:
- What business are you really in? Why it matters
- Why your team knowing what you do is important for team performance and morale If your team know what business you are in they know what to concentrate on.
- Example of a business that did not realise it was in the business of memories and made a catastrophic decision to sell a valuable invention. If you don’t know what business you are in you make the wrong decisions
- An example of a business where technology has taken over but if it understood what business it was in would have adapted to the changes and thrived.
You can watch the podcast or listen to it.
