Balance & intentionality
Entrepreneurial life can feel like being stuck in a cycle of running in place without an intentional balance of the core business functions.
To conceptualize that balance, envision your business as a 3-legged stool with a bag of cash on the seat of it that represents profitability once the bills have been paid, to include adequately compensating the owner. Those 3 legs represent the core functions of the business, which are:
- Sales Performance, relative to how well that brand awareness, interest, consideration, conversion, repeat and referral business are generated and measured.
- Operations Performance, relating to how efficiently that goods and services are profitably produced without sacrificing quality.
- Business Accounting, which prevents that unexpectedly high, surprise tax bill at the end of the year from further impacting positive cash flow.
Simply put, if a leg or two of the business are weak, the profitability is threatened.
