Satisfying Your Personal and Professional Needs - Expanding or Changing Your Business

Business Strategic Planning



Would you like to expand or change your business? Do you have some secret dreams that you hope you will "someday" achieve? What are you waiting for?

Some people work until they get to the point that they hate what they do. That is sad. When questioned, they often state that they always had a yearning to be doing something else. That is even sadder. One of the most difficult things to grieve is the loss of a dream.

Do you wish that your business was different that it is now?

Begin by scheduling some quiet uninterrupted time when you can be creative. Take a couple of hours to write out a detailed description of what you would like your business to be like. There are no limits to what your imagination is allowed so feel free to write out all your ideas - even if they seem impossible to accomplish.

Be very honest with yourself as you answer the following questions:

1 Would I like to expand my business? What hours and days would I like to work? Would it make sense to develop partnerships or add staff to meet my dreams?

2. Would I like to change my business? Perhaps acquiring a different location would be suitable. Is there training that would help me to move my practice into an area that I would enjoy more? Is there a client population that I would prefer to serve? How could I make this happen?

3. Would I like to make my business smaller? Am I working too many hours or preparing for retirement? Are there areas of practice that I would no longer like to do? Are there opportunities to maintain my income while reducing my investments? Could I rent my office space to another business on a part-time or casual basis?

4. Do I want to leave the business and do something different? What would an exit strategy look like? Would it be possible for someone else to take over the business? What other options do I have that are more attractive?

A former United States President coined the expression "The buck stops here". That means that, as a solo professional, you have the option and responsibility to define your business and make the choices that will bring you to the end of your career with a smile on your face!


Dr. Linda Hancock, the author of “Life is An Adventure…every step of the way” and “Open for Business Success” is a Registered Psychologist who has a private practice in Medicine Hat. She can be reached at 403-529-6877 or through email office@drlindahancock.com


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