In my experience, what sets apart entrepreneurs who succeed from thosewho fail lies in the ability to go back to the basics. When my team is faced with a dilemma, I resort to the analogy of the leaking water tap. To stop the dripping, the most common approach would be to wrap a cloth around the part that’s leaking. However, by thinking beyond the problem, we realize the root of the issue lies with the water switch not being turned off.
I remember when my company’s sales dropped exponentially. Instead of warding off the competition, we went back to the root of our sales problem to determine our strengths. We re-identified our value proposition and projected ourselves as a solutions provider to clients, instead of just a proprietor of products and services. By returning our focus on providing quality service to clients, we gained a stronger foothold in the industry and netted more customers in the process.
As entrepreneurs, we are constantly surrounded by problems. Instead of simply “fighting fires,” we ought to spend more time thinking deeper about the solutions. The important thing to remember is that no problem is unsolvable. After all, if everything in business could be solved so easily, there wouldn’t be a need for entrepreneurs.