Just as your body has 2 strands of DNA, your business has its own unique set of attributes. Every business is different and every business owner is different.
The 2 strands in your business is an intersection of the physical attributes of your business and what drives you as the business owner. It is where these 2 elements meet that defines the uniqueness of your business.
Where you are located, what your business delivers, how many people you employ, what skill do they have, who your customers are, who your suppliers are, how your business is structured.
Two cafes next door to each other are as different to each other as they would be worlds apart because no two businesses are the same.Your business may be based in the city, the suburbs, large or small country town. You could be on the sunny side of the street, in the CBD or in an industrial estate. What is your product offering and how do you get your product to your customers, or do they come to you? Are you a manufacturer or a service based organisation? You could be in hospitality, agriculture tourism, entertainment, food industry, retail or construction. You may have a few local competitors, or you may compete on the world stage.
What type of business are you?
A small business, by definition, typically employs 5 to 20 full time equivalent (FTE) people. A micro business is one which employs less than 5 FTE’s.
Together, small and micro businesses make up 96% of all businesses. Are your employees educated in a trade or retail or are they unskilled? Are they developing or on a training program? What are their own set of skills that help your business grow?
What kind of business owner are you?
Every business owner is different. You have different reasons to own your business and different goals.
What is the reason you got into business in the first place? Did you see an opportunity or did you just fall into it? Do you have a defined objective? Were you an employee who had had enough of working for someone else and you believed you could do better yourself? What is the culture within your business? How do you lead your team?
What are you good at, what are you passionate about and what drives your the sales and profit of your business?
It is the diversity of these elements which join together to make up your business.