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4 Questions Every Business Owner Should Ask

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Entrepreneurship is a journey which is more predictable than you think. It often moves from an idea into a one-person business or a set-up phase, then into a boutique business of 3-12 people, then scales to about 12-50 people and then comes the performance phase of growing the business from 50 up to a team of 150.

As you move through these phases, the company will change and evolve and it will almost be unrecognisable when it’s at 50 people compared to what it was like when it was 10 people. There’ll be new products, there’ll be a new team, and there’ll be a new culture within the business.

Let me ask you four questions:

1. Are you doing something of great value?
2. Do you have any influence in the marketplace?
3. Are you able to reach enough people to make your business work?
4. Can you formalise assets within the business that you can own?

If you can focus yourself on answering these four key questions, then you cycle through these business phases a lot faster. There is so much noise within business today. You get so distracted with all the challenges that arise… But if you can refocus yourself on these four key questions then you’ll accelerate your entrepreneur journey to become a Key Person of Influence within your industry.

Watch a quick video below to expand on the four questions above.