What Is Business Potential?
I was sitting in a seminar this morning and the presenter mentioned, “reaching for the full potential of the business.” I quickly thought to myself, What is the definition of full business potential?
A quick search on Google proceeded to muddy the waters even more. Some of the search results listed on the first two pages were:
Are You Marketing to Your Business Potential?
- Tapping Business Potential in Africa
- Tapping Business Potential in India
- Increase your Business Potential with a Web Site
- The Next Billions: Unleashing Business Potential in Untapped Markets
- Maximize Your Business Potential through your Employees!
- Aging in Place: A Business Potential
- American Express: Unlock Your Business Potential
It appears everyone talks and talks and talks about business potential, but apparently it means something different depending on the message you are trying to convey. Is business potential measured in growth? Gross revenue or Net Revenue? Number of employees? Gross margin percentage? Or is it something more intangible like the satisfaction of the business owner? Happiness of the employees? Service to the community? Or maybe it is the reward of providing a valuable service/product to clients and customers?
Business Potential – The Theory
I believe business potential is all of these. All business owners need to figure out for themselves what business potential is for their business. They need to set goals based on this potential and start moving in that direction.
But why is it so few actually reach their goal? Why is it that with all the available books and websites telling us how we can achieve more, that most people give up or don’t achieve their potential?
I think it has to do with the will to achieve the goal and also understanding how to move toward that goal. Will is an essential component in reaching potential. Many people have wishes they think are goals. They wish their business made more money; they wish their employees were happier; they wish they could make a valuable contribution to the community. Turning wishes into reality is where the word potential comes in. Making those wishes come true takes hard work and a plan and, most of all, will. Yes, a day by day plan that moves ever closer to the potential.
Business Potential – Writing Goals
Are your goals written down? Do you have a plan of what you will do day by day, week by week, month by month to make those wishes become reality? If not, keep wishing!!
Alternatively, if you want to take action, reach out to a B2B CFO® professional today.