What is The Big Picture?
The Big Picture is your answer to the question: why are you in business?
Many business owners have difficulty answering this question well. They don't really know what their Big Picture looks like.
The reasons may include the following:
- To make good (or better) money
- To be my own boss
- To have more flexible hours
- To have more time with family
- To have more time for recreation
- To do a job I enjoy that won't ruin my body or my health
- To get satisfaction from building something
- To build up a business and sell for a healthy profit
- To build up wealth for when I retire
Why should you think about The Big Picture?
If you're looking to get into a new business, you should understand your Big Picture so you can assess whether the prospective business makes the grade.
How many of the above criteria does the business you're looking at really satisfy? You don't want to invest a lot of time, and money, only to end up with a business that doesn't deliver what you want it to.
If you're already in business, understanding your Big Picture makes managing it easier and less stressful.
It is easy to be distracted by the day-to-day and the what and how.
But once you understand why you're doing what you're doing, other decisions become much easier. How big should I grow? What kind of customers should I target? What pricing strategy should I adopt? Should I hire more staff? When do I need more gear?
All these questions become easier to deal with once you have a very clear understanding of where you want to head and why.