What Is Business Reinvention?
The phrase “business reinvention” might have you quaking in your boots. After all, who wants to start all over again from scratch?
Ah. I think I can help by offering up a different definition for you to ponder.
Business reinvention isn’t about tossing it all away and starting from scratch (unless you really, really want to do that). Instead, I think of business reinvention as a process of looking at your current business model and your own goals, and finding places that could use a makeover. Knowing why you’re reinventing your business is the first step in the process of transformation.
There are lots of places where you can transform your business: your marketing, your target audience, the services and products you sell, the way back-office administration happens, your technology, your scale (national versus local), your resource base, your business and personal goals. You can choose to remodel every single one of these items or pick the one that will give you the biggest bang for the buck.
Some business reinvention stories…
A mastermind partner of mine is a chiropractor and has been doing it for nearly 30 years. But as she gets older its harder and harder to lift patients off the table and the work itself causes her back and shoulder pain. In addition she feels that she would like to reach a larger audience with her message of being in conscious choice about all aspects of your life and not just following what everyone else tells you to do or think. She will take everything she’s ever learned as a chiropractor and everything she’s been studying and living for the past 30 years and create a new business where she can teach and coach.
One client of mine is taking her existing locally-based business and making into a virtual business that she can conduct from anywhere in the world. This frees her up to travel with her husband and continue to have a business she loves.
Another client of mine stayed in the same industry but changed his service offerings. In the past he had offered sign design and installation to his local customers. Now he’s offering sign management on a national scale to large organizations with multiple locations throughout the USA. He’s taken all his knowledge, experience and connections and put them to work for a new, larger, and more lucrative target audience.
In all these stories you’ll see a common thread: as a small business owner, your goals, your values, your needs and your lifestyle can change. And you can reinvent your business to reflect these new dreams and move you towards the business and life you want.
You decide how, when and where to transform your business
Business reinvention is what you make it. But it’s not making tiny tweaks here and there; it’s shaking up the whole business model and realigning it to your goals, values and needs.
No two businesses will reinvent themselves in exactly the same manner. On this website I’ll share some ideas with you about how, where and when you can transform your business.
