What Business Are You In?

category: Business, Decision Making, Planning, Results, Values
by David Colman,

One of the items that is always on the agenda when I meet with my partners is the question, “What business are we in?” You might think that after being in operation for the past 13years that might be a bit of a silly question. But is it?

One of the things that the question immediately forces us to do is analyze whether or not we are meeting and exceeding the needs of our customers, whether or not we continue to be viable, and lastly, are we enjoying ourselves.

I suppose one of the last things that I expected over the years was that the answer to the question would change so much. But it has.

In our genesis, we began as a corporate training delivery organization. That has evolved into not only a company offering all forms of training needs, but also consulting, coaching, speaking engagements and even freelance broadcasting.

But why did it change and evolve? Some may say that we wanted it to, which is partly true, but I would say that our customers asked us to change, or in some cases, forced us to.

I think the golf club near my home has gone through the same thing we have. From being just a golf course, it is now a restaurant, cooking club, jazz lounge, and sports bar among other things.

So what business is your company or organization in? As a leader, how often are you addressing this question? You could be looking at the question from a very high level perspective or from the viewpoint of your department within a company. Either way, the exercise is more than valid. Here are a few tips:

When you review this, don’t do it in isolation. Involve others in your company.

Try and answer the question through the eyes of the customer - both internal and external.

Ask your customers what they expect of you.

Anything that you conclude with the answer ‘I don’t know’ is a red flag and needs addressing.

Gaze into your crystal ball by looking ahead two, five, and 10 years. Educated guesses are valuable.

Record and document your conclusions.

Re-evaluate your work every six months.

And, don’t be afraid to change the direction of your department or company on the basis of what you learn. After all, it’s nobody’s business but yours.

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