Feeling Like Your Business Needs to Change?

Something’s in the air!

Everywhere I turn recently, I keep running into people who tell me stories about how they are changing their business model, reinventing the way they do business, modifying the products/services they offer, and shifting who their target audience is.

Some say they’re feeling restless: that they know something is going to change in their business but they’re not clear yet exactly what the new model will look like. They’re exploring all the options to find the new formula that works for them.

Others know exactly the direction they’re moving in and just need to work out an action plan. One colleague said to me, “I’m itching and ready to take action, if only I knew what the right action should be!”

I’ve been feeling the same way. I know my business is morphing. I won’t reinvent it from the ground up, but instead I’ll take all my knowledge and experience, and redefine what services and products I offer my audience. Some services will go away, some will stay the same, and new ones will be added.

I’m seeing some recurring themes about why people are reinventing their business, and I explore the range of reasons in another blog post. There’s no right or wrong reason for reinventing your business, just like there’s no fixed definition of what “reinvention” means to you and your biz.

Just trust your gut instinct. If you know something isn’t quite right with your current business model, trust your thoughts and feelings on the matter. You may not know exactly where you’re going, but the reinvention journey is a path worth exploring.

I’m interested to hear your comments. Are you reinventing your business, too? Where are you in your thinking about your new biz model?

4 comments for now

4 Responses to “Feeling Like Your Business Needs to Change?”

# Kathy

I’ve been changing my business model as well and am still working on where I want to take it. I think the economy is what triggered this. As I attempt to pick up more profitable clients and weed out the unprofitable ones, I’m finding my new clients have different needs than my current clients, and I’m happy to adapt. It makes me glad I run a small business. We have the flexibility to make these types of changes quickly.

02 Aug 2010 at 11:55 am
# Karyn Greenstreet

You’re not alone, Kathy. The economy has triggered many a business reinvention in the past two or three years! I think you’re smart in looking for your ideal client and weeding out the ones that were unprofitable for you in the past. Best of luck to you!

02 Aug 2010 at 12:13 pm
# Francesca

I moved to a smaller community 2005 and tried to restart my virtual business with no luck. I’ve had a few clients but, they were wrong for me. They only wanted to use me in a way I didn’t see. They’ve taken the passion I had for the business away from me or so I thought. Now I realize that I was losing the passion. I didn’t feel the same way about my business. I was doing or providing services that I really didn’t like doing.

Now I want to change the business I want to redirect myself and the services that I offer. The hard part I’m finding in doing this is finding the passion to even try.

24 Oct 2010 at 6:39 am
# Karyn Greenstreet

Francesca, passion is a important element when you’re self-employed. It’s one of the things that keep you motivated when times get tough. Instead of worrying about what services you offer, I recommend you first ask yourself WHY you are offering services at all.

25 Oct 2010 at 4:51 am