The initial and never-ending question is, “What business am I really in?” New owners have failed because they never answered that question, or did not continue to ask it as the business changed. One owner realized that most of her income came from consulting while most of her time was tied up in writing articles. By “focusing” on the right source of income, she dramatically increased her profits. Defining and re-defining the business is a never-ending process from start-up through all stages of growth. It is critical to pay attention to your business as it changes and evolves. It will.
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