Write down how your business has evolved since launch. In retrospect, the biggest upside that materialized within your operation was probably never on your radar — and it definitely wasn’t in your pitch deck. Most companies ignore the true nuggets of gold that are waiting to be mined within their own four walls. Need inspiration? Remember that Kodak actually invented the digital camera in 1975 — then blew off its inventor and shoved the patent in a drawer until it was too late to stave off bankruptcy. Before COVID-19, were you treating a product or service as a mere tinkering when it should have been the main event? Reorient version 2.0 of your business to go after it!
Before this crisis, were you really happy with how things were going in your business, or at least, were you happier than your peers who have a boss? If the answer to either question is no, then you’ve just diagnosed a misalignment between your dreams and reality. A few years back, Wharton School of Business conducted a study of 11,000 graduates that found the number one predictor of happiness was not money, but entrepreneurship. They say cash is king, but being your own boss is checkmate. Don’t rebuild the same business to satisfy your ego; rebuild it to satisfy your soul. Life is too short, as we are being reminded once again.
Don’t squander it by making a carbon copy from a bygone era. – Matt Higgins