The Starting Point in Defining Your Business

 Your Vision is your mental image of the direction you desire to take your company. It is the business aim toward which you are working. A goal is a desired state in the future. It's possible that you want your company to be the greatest in its sector or to provide the best products or services. Others' Vision is to be the greatest they can be in their chosen field.

Many entrepreneurs begin by determining whether they are Income Producers or Business Builders. An Money Producer is a business owner whose primary goal is to replace the income they would have received from employment. Income Producers are typically drawn to the flexibility of being their own boss in a one-person enterprise. The company would be nothing without them. The Business Builder is primarily concerned with creating a business that is valuable in and of itself. You must be a manager and leader to be a great Business Builder.

Wendy, my wife, is a perfect example of an Income Producer. Wendy has a private psychotherapy practise in which she specialises in Marital and Family Therapy. She is a one-person operation. Her approach is designed to allow her to exhibit her particular talent. Wendy works one-on-one with customers for 23 hours each week on average. Her work week is divided between creating reports, preparing for interviews, professional development, and managing her practise. She employs technology to improve efficiencies and effectiveness, but the company is mostly dependent on her efforts. She plans to close her practise when she retires. Wendy places value in making a difference in the lives of those with whom she works. She has developed a profitable business by recognising and capitalising on her unique talent.

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