Get (more) scientific with your business strategy

Know your weaknesses! This one has helped a lot, especially this year. I know that I am quite emotional about my business. I tend to think that what I like – others will like or that what I need – others will need. I have quickly learned that this is not the case. Basically, there HAS to be a research stage before launching new product or service. I just did not ask myself very fundamental questions:

1. Is there a demand?

2. Is it a reasonable demand?

3. Can I provide better product/improved one?

Now I am not so fixated on certain products and services – and if I see there is no demand – I am ready to drop them.

Another mistake I have been making is rather strange – I have spent far too much time on aspects of my business that I enjoyed and I have neglected other parts that were also or maybe even more important. It stemmed mainly from me thinking that my business is an extension of my hobby…Now I know that no matter how small the business is, it has to be treated as a business and NOT as a leisure activity.

I am planning lot more. Example below. I am thinking through the Year first. Then I break it into Quarters and then into smaller units. I have noticed that weekly planning works best for me.

This year has been mostly about transforming from an amateurish approach to more structured and more scientific approach. I will let you know whether it paid of in January 🙂

Not perfect but serves the purpose. Also satisfies my colour coding habit.