I used to have only one goal for my business.
To make money.
While that is still important; it is no longer my only goal in business.
Three circles presented by IDEO in design thinking has influenced my thinking about business goals.
This is how I think about business goals now.
I believe every business needs to first think about the desirability of their offerings.
To me, this should be the first goal.
Desirability seeks to present a solution that the customer wants. This is not to be confused with what a customer needs.
For instance, I shared in this video about my first epic failure when putting up an online learning course.
This forces businesses to look at their offerings from the perspective of their customers; rather than from their own.
In fact, this resulted in a breakthrough in my building of an online community.
The second goal of any business is to ensure the feasibility of their offering.
We go from “we know what customers want” to “we know it is possible to provide the solution for our customers”.
This is where many businesses I know failed.
Simply because it is not possible to provide the solution their customers wanted.
In this video, I shared that while I know my customers want valuable content from me; but is it feasible for me to provide it?
This last goal is crucial.
Without a viable business model, your business won’t be around for long.
Viability is more than just making a profit.
It is also about making the necessary investment back into the business.