This may seem like a silly question, but do you really have a concrete raison-d’etre for your business? Do you have concrete goals regarding what you are trying to accomplish and where you want to be in 3, 5 and 10 years?
Many entrepreneurs get driven into business based on a creative spirit, lusting after an idea that they just can’t shake or for some tactical reason- to be their own boss or cut down their commute- only to find that years later, they haven’t defined any more than that.
You can’t figure out the best way to get somewhere if you don’t know where it is you are going. Be very clear on your intentions and make them concrete with time frames and milestones. You can adjust course if you find that your current path unfulfilling at any point, but striving for something gets you a lot farther than just doing what’s immediately in front of you.
Carol Roth is a national media personality, ‘recovering’ investment banker, investor, speaker and author of the New York Times bestselling book, The Entrepreneur Equation. She is currently an on-air contributor for the national cable television station CNBC, the pre-eminent name in business news, and the host and co-producer of The Noon Show, a current events talk show on WGN Radio, one of the top stations in the country. Carol multimedia commentary covers business and the economy, current events, politics and pop culture topics.
Carol has helped her clients complete more than $2 billion in capital raising and M&A transactions. She is a Top 100 Small Business Influencer (2011 &2012) and has her own action figure.