Friday Focus: The Big Picture
The objective of every entrepreneur is to grow their business venture into one that is profitable, has sustained success and growth which can provide for themselves, family and shareholders in abundance.
It’s the beautiful final destination to arrive at after the tough road of building, scaling and consistently refining the brand and company.
However, what some forget to take into account, is the big picture behind all of this. When building your company from the ground up there are a plethora of factors, tasks, partnerships and more that go into it. Having a broad view of what it will ultimately take to get the company off the ground and empower it to scale and raise a profit is of great importance.
The foundation is essential, and building a strong one rests on the research, resources and knowledge the business developer has at their disposal. Being able to view the whole operation from a clear and overarching vantage point is essential. As an eagle circles countless times high above its prey a business owner must do the same observing the foundation of his business, looking at possible outcomes, opportunities, obstacles, materials and other elements the business needs to launch and succeed.
The last thing a builder of any sort, engineer, chef or entrepreneur wants to do is retroactively remedy a mistake or issue missed at the outset of a project. Nothing can slow down a mission more. Imagine a building set to be 20 stories tall, yet when 10 stories are completed the engineers realize the foundation is not strong enough to support the extra 10 floors, or a chef creating a dish, neglects to add an integral ingredient completed the course and is now about to plate and serve. The consequences are immense and will lead to significant delays or starting back at square one, in some cases scraping a great amount of work already completed.
This is why there needs to be an emphasis on the big picture, covering all your bases at the outset of starting a project in order to avoid costly damage control down the line.
Are your supply chains strong enough to withstand orders? Are all contracts and agreements up to code? Are the right personnel hired to complete the project? The list goes on and on, you get the idea.
Foresight is essential to become a successful business owner. Often this wisdom is achieved by slowing things down, calming the noise and thinking in a pragmatic and realistic way.
To gain personalized guidance for your business on this topic and others contact us.
- Vince Calace
Founder - Venture Business Development