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Why Does Your Business Exist?

Picture of Karl Palachuk

Karl W. Palachuk
June 27, 2020


I have often told people: Your business should exist for a reason.

All small businesses exist to serve the dreams and goals of the owners.That’s why we start with your personal goals and how you want to balance your life!

That’s not true with big business. Why does a Fortune 500 company exist? To maximize the money in the pockets of the investors. So, if you work at one of those companies, your job is to maximize the investors’ profit.

In small business, the business exists to serve the owners’ dreams. The owner needs to articulate this, share it with the employees, and make it part of the brand. Just because you want to do whatever you do, that doesn’t make it a business. A business has a reason for existing. If all you want is to ‘do’ your trade and get money in exchange, that’s called a job. Go get a job. But if you want to be in business, you owe your customer more than just trading dollars for hours.

What is your vision?

Write it down. And if you can’t quite put it in words, that’s okay. We’re not in a hurry here. You have the rest of your life to get this done. Take a stab at it. Write down something. Then you can go back and fine-tune it.

Part of the success model I spell out in Relax Focus Succeed is to spend some quiet time every day. This might be prayer or meditation, or simply relaxing in your hot tub and thinking about the day ahead.

Do this for fifteen minutes every day and amazing ideas will flow into your brain. Set the intention on articulating your vision, and it will start to reveal itself to you. Be patient. Do this every day. It might take a week, or a month, or a year.

But eventually, if you work at it, you will be able to boil down your vision to a simple sentence or two. The more you think about it, the clearer it will become.

The more you talk about your vision, the clearer it will become to others. As you describe and explain, you will also answer questions. What about this, or that? And as you answer these questions, you find yourself using the same words over and over to describe your vision.

When you can share your vision with others, it becomes much easier to engage their help. Others will begin to see your vision. A few will fall in love with it. But everyone will understand it, even if it doesn’t speak to their personal passion.

And if anyone asks you why your business exists, you’ll have an answer.

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