5 Questions Every Entrepreneur Should Ask Themselves
In this article, we'll explore these five questions in detail and go over some tips on using your answers and the Entrepreneurial Operating System® (EOS®) to gain traction toward your vision. So whether you're a seasoned Visionary entrepreneur or just starting out, I invite you to take some time to answer these questions alongside me. It could be the best investment you ever make.
Question #1 - Am I driving my business, or is my business driving me?
It's easy to get caught up in doing everything and being everything in your business, so much so that you may find yourself losing sight of the initial passion and vision that drove you to start your business in the first place. When this happens, you may find that you’re no longer in the driver’s seat and are instead in a position where you have to hold on for dear life to survive.
Not sure if you’re heading on a collision course or not? Try asking yourself these questions:
What can you do to take back control of your business?
If you answered yes to most of these questions, then it's likely that you are still driving your business. However, if you answered no to any of these questions, it may be time to take a step back and reevaluate your situation.
If you find that your business is driving you, you can do a few things to take back control:
Question #2 - What would happen to my business if I stepped away for six months?
Imagine taking an extended break from your business. Would it crumble without your presence, or would it continue to flourish? This question isn't just about your business's sustainability; it's about the legacy you’re building.
For a business to be truly sustainable, it shouldn't collapse in the absence of its leader. This means establishing systems, processes, and, most importantly, a reliable team that can function autonomously.From the EOS® lens, the Visionary-Integrator™ dynamic stands out. This framework ensures that there's always someone to steer the ship, even if you, as the Visionary, are away. An Integrator™ like me can ensure your operations run seamlessly and strategic goals are consistently met. If you're uncertain about your business's sustainability, EOS® might just be the compass you need to set things on the right course.
Question #3 - What would I change if I were just starting my business today?
Hindsight is 20/20, right? Looking back on your business decisions, successes, and failures can be a great way to learn from your past and make better choices in the future. Here are a few questions to ask yourself:
As a Fractional Integrator™, I’ve worked with many Visionary entrepreneurs over the years. And a recurring sentiment among them is that they wish they had hired an Integrator™ earlier in their business journey. Many faced burning out and maxing out on their business’s growth potential before finally hiring a second-in-command. But the good news is that this doesn’t have to be your story. You have the opportunity to learn not only from your past but from others as well.
Question #4 - Does my business align with my core values and the impact I want to leave on the world?
A business is a reflection of its founder's values, aspirations, and dreams. It's a way to make a lasting impact. Does your business align with your core values, and are you making a difference in the world? To find out, ask yourself these questions:
If you answered no to any of these questions, it might be time to make some changes. Aligning your business with your core values is essential for success. Failure to do so can lead to dissatisfaction, de-motivation, and misalignment within your team and yourself. These factors can all contribute to reputational damage and hinder business growth. Taking steps to ensure alignment is the right thing to do and a wise business decision.
With EOS®, alignment becomes a focal point. EOS® places a strong emphasis on integrating core values into every aspect of your business operations. This ensures consistency, integrity, and a clear brand message that resonates both internally with employees and externally with customers.
Question #5 - What am I not seeing?
Even the most visionary entrepreneurs have blind spots. These are areas of your business that might not be on your radar but are crucial for its smooth operation and growth. Some questions you can ask yourself to uncover blind spots include:
Navigating these blind spots alone can be challenging. But this is where a trusted second-in-command, or as EOS® calls it, an Integrator™, can offer indispensable support. An Integrator™ serves as your trusted second-in-command, helping align all aspects of the business to your vision and making sure no potential issues are overlooked. Think of them as your co-pilot. While you steer the business with your vision, your Integrator™ makes sure no significant issues get neglected.
Also, if you're not ready to bring on a full-time Integrator™ just yet, a Fractional Integrator™ is a fantastic option. Unlike a full-time Integrator who is a permanent employee, a Fractional Integrator™ works with you on a part-time basis. This arrangement provides you with the strategic support and execution to help your business grow, but without the full-time commitment.
In addition to having the right strategic support, EOS® provides tools to help you identify your blind spots. The Level 10 Meetings, a staple in the EOS® system, are designed to bring critical issues to the forefront. Through structured discussions, potential problems are identified, discussed, and solved, ensuring that nothing significant falls through the cracks.
The Bottom Line About The 5 Questions Every Entrepreneur Should Ask Themselves
Entrepreneurship is a journey filled with constant learning and adjustments. By regularly asking these five questions questions every entrepreneur should ask themselves, you're not just introspecting but proactively seeking avenues to improve and grow.
Now, I have one last question for you: Are you truly ready to take your business to the next level? If you’ve already implemented EOS® in your business and the idea of having a trusted second-in-command, an Integrator™, resonates with you, I'm here to help. Let's schedule a call and discuss how we can enhance your business's potential together. Your next step towards growth and freedom might just be a conversation away. Schedule a free discovery call with me today!
I’d love to hear your thoughts as well. Which of these questions resonates the most with you? Are there any questions I may have missed? Leave your thoughts in the comments below.