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The Passionate Business Owner Vs. Cutting Corners

The Difference Between Cutting Corners & Streamlining Your Business

I have worked in the past with a lot of different business owners from the financial industry, to restaurants, and salons, to retail. You can really tell the difference between business owners that started because they’re passionate about the business. You can also spot business owners who go into it because they think that there’s money in it. I’ve met a lot of business owners that go into it because they think there’s money involved just to figure out how to cut corners and streamline their business.

There’s a huge difference between cutting corners and streamlining your business. I look at some of my current clients that I have and streamlining operations is critical to scaling and getting larger, but they do not cut corners then I look at some of them that are all about cutting corners and they call it streamlining. I think the big difference between cutting corners and streamlining is your client’s best interest, your own laziness, and productivity.

Don’t Cut Corners Unless You Want To Cut Customers

Let’s take each of those. If you look at laziness, there are people that say I just want to be as hands-off as much as possible. They’re even willing to cut corners to put less work on themselves, which does not get the end result for their client or customer. If we look at productivity, it is okay to dissect your operations to make them streamlined and more productive for yourself and also for your customer base.

Whether that’s your marketing, or that’s your ordering, or that’s your workflow for each individual client, that is a win-win for both sides. But you should do it without focusing so much on yourself and instead using the lens of investing more time in an effort to perfect the end product or service. You should make it with the lens that your customers will get a better outcome because of the changes that you can make. Don’t cut corners unless you want to cut customers.

Innovating A Non-Tech Industry: Brainstorming Business Ideas

The Right Idea For The Right Industry

I’ve been looking for my next business move and/or companies to start. I’ve brainstormed a few ideas. In fact, I was sitting down with a co-worker a few months ago and he asked why I had not made a move yet. He said, “Is it time? Is it money?” I said, “Nope. It’s the idea. I have not found the right idea. I’m much more cautious now after failing and having picked the wrong partners in the past.”

Innovating An Age Old Industry

I listen to a lot of podcasts and I read a lot of books through Audible. You know this from reading my blog. Finding a need has become more and more apparent in the success of innovating a market and revolutionizing an arena to which we are already accustomed. that I have or finding an industry that is old that has not had a lot of technology. I heard a podcast by Tim Ferriss. He spoke with a guest named Adam Robinson about the ball bearings industry. That got me thinking about other very old industries.

Take a look at Uber and Lyft. The taxi industry hasn’t been changed in 50 or 60 years. Then Uber and Lyft came in and just flipped them upside down. Even the music industry, you used to have to buy physical CDs or go to the concerts to hear the music. Now you have Pandora and you have YouTube. What industry is like that? I think about making pencils or making sewing machines or what other very industrial non-competitive markets are still open.

Fulfilling A Need Is Key

To summarize, it comes down to those two needs. Either the needs that I have, or what is very old school and in a non-tech industry and could be advanced by technology.

Going back to my co-worker, I just haven’t found the right idea and I’m much more cautious with the partners that I choose. That’s why I have not yet started a new company.