I have been watching a couple of businesses over the last year and both seem to be missing the mark in getting their businesses off the ground. One is client who started a new business because he was forced to close one business that was marginally successful, but was beneficial to a small group of disenfranchise workers. The other is a NFP that seeming has an identity crisis.
My client is an entrepreneur that has been successful at a number of other small businesses, but they closed due to market changes. When we first met he was bubbling with ideas for businesses that he wanted to get off the ground, I thought there was merit to a few of them. Before he wrapped up the last business, he started a new one. Due to some health issues this new one has been struggling to get off the ground. The plan was to expand a non-billable service to a billable service.
The NFP has been defining themselves by what they are not. I remember in grammar school when I tried to define something by what it was not, I was told that this was not a definition. I learned that lesson; the BOD and Executive Director of the NFP apparently have not. I have to admit, I am still not certain what products or services that they are trying to sell, beyond space rentals.
Both of these businesses I feel are missing a basic point. Knowing what services they want to provide and for whom do they want to provide it to and for how much. I asked my client these questions, granted the answers were wobbly, but the health issues did not help the situation. For the NFP, I think early on everyone was patting themselves on the back telling themselves what a great job they are doing has blurred the lack of success of a “Mission Statement” or a “Value Statement”. I have heard that there also hasn’t been a BOD meeting in a while, they keep getting postponed and rescheduled.
Both of these businesses need a recharge and reboot. Redesign the business plan, revisit or create the “Mission Statements” and/or “Value Statements”. Develop a plan and move forward. I have the client scheduled to come in soon to discuss. The NFP is not a client; I am just a bystander shaking my head.