Incomplete & Unimportant
Is your revenue stream flat or shrinking? Is your customer base less than enthused? Are your gross margins tightening under competitive pressure?
These are but symptoms of an underlying problem in your business concept and model.
All entrepreneurs and executives need to frequently revisit your core assumptions as to the what, why, and who that underlie your business. The question is quite simple:
Am I offering an incomplete solution to an unimportant problem?
The degree to which this is true will explain the struggles that your business is experiencing.
Successful, growing, and profitable businesses have identified how best to deliver a complete solution to an important problem. These businesses do not deliver a nice to have or partial solution. Instead, once again, they deliver a complete solution to an important problem.
As the leader of your business, it is your responsibility to recognize the difference between symptoms and the core health of your business. Avoid chasing after the symptoms, and instead go to the source of your problem.
Focus on your core business concept and model, and get them right. Recognize that this is an ongoing, iterative process. And commit yourself to delivering a complete, must have solution. By doing so, you will see those troubling, troublesome symptoms resolve themselves.