The ideal for you as an entrepreneur is to run the business with its achievement potential fully strategized and from the nucleus – the core of your business. The way to grow your business is to reach past the core in a balanced way. Your business can have multiple areas of activities and tangents. Each tangent is individual, but never mutually exclusive. Each part of a business depends and affects other parts of the business.
The growth factor in your business is the primary selling point of your business. Of course you’re not selling your business, but you must envision the business’ worth! And the clear way to do that is to understand the business’ value if you were to sell. So, which tangent needs to grow and which can stay neutral for maximum potential? How you concentrate resources on a particular tangent becomes crucial.
Measuring growth in each tangential context is the key. Systems to cross-measure will give the lead into how much financial and non-financial support you need in each tangent. The need for a new strategy to replace an old one, or an innovation in any one tangent, or across tangents will become visible with clear measurement in place.
Imagine your business as the atom – with the nucleus being your core business. Then picture the tangential businesses that could come close to your center. What naturally connects to your core? What naturally leads to connection with other markets? Then imagine creating systems for tangential control and growth. This kind of laser focus, when created within a business will simplify spotting gaps, identifying risk areas, building hedge strategies. From there you create right kind of controls that allows you to reach past the core while maintaining the strong nucleus of your business.