Show Notes
Key Links
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Tightening Your Business with the Right Tools
- There are countless business owners each and every day that give up on their dreams of being an entrepreneur.
- If you’re starting to feel like all of the bulky parts of your business are falling into place, you may need a wrench!
The Wrench Metaphor
- You’ll need to be able to accept the fact that there are in fact some pieces of your company that aren’t properly bolted together.
- You’ll need to be able to identify where the loose bolts or poor fitting pieces are so that you can begin to strategize a solution.
- You’ll need to fix the issue; whether that means replacing, reconfiguring, or even reinventing new parts!
Accepting the Problem:
- ‘The Wrench Metaphor’ is so relatable because it’s easy to picture a car rolling down the road with parts hanging off, or a wobbling wheel.
- For many business owners, jumping over the psychological hurdle of accepting that their company may not be bolted together correctly is much more difficult.
- There may only be a few bolts that need tightening or even room for a new part that may lead to the metaphorical vehicle running more efficiently!
Identifying the Loose Parts:
- At a certain point in this process it becomes evident that identifying loose bolts or misconfigured pieces is just as important as brainstorming a solution.
- Once you’ve found the first bolt, be sure to continue to examine the rest of your business with that same mindset, leaving no part untested.
- Have you asked yourself the hard questions about what is truly malfunctioning?
The Fix
- In order to avoid feeling overwhelmed, it’s important to tackle one task before moving on to the next as opposed to losing focus trying to finish the entire project at once.
- If you’ve noticed that your product has some loose bolts, the solution may be a simple add-one or even just a small adjustment.
- Any fix you make should lead to a better valuation for your company, more time in your day, higher profits, and better offerings!
Conclusion
- Even if all of the business fragments you are currently in possession of fit in their current arrangement, there may still be other ways of assembling the same pieces or even a way to reinvent more efficient parts.
- If you don’t take action, nothing is ever going to happen, and your business will never be back on the road racing towards a higher valuation!
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