As the year comes to a close, most entrepreneurs begin the process of reviewing their past accomplishments and creating new goals for the upcoming year.
They look at what did well and what didn’t. What paid off and what didn’t.
Then they decide where they’re going next.
I’ve participated in several masterminds and group coaching programs over the years, and have frequently receive the advice of creating lofty financial goals in the goal-setting process.
One successful solopreneur and business coach even suggested that her clients raise their prices 3 – 5 times their current amounts in order to give them more prestige in the business arena. She, herself, had raised her prices 7 times.
“If your prices are too low, people won’t think what your services are valuable,” she said.
Just about every business training webinar or conference call I’ve attended in the past 6 months has referenced creating a “multiple 6-figure business” as the ultimate goal for entrepreneurs. In fact, they suggested that the driving factor for your business goals should be the ultimate profit you wanted to achieve by the end of the year.
For me, all of this is troubling.
As conscientious mompreneurs, should our business goals be profit-driven?
Should we start our goal-setting process with identifying an arbitrary (high) amount of money we would like earn and then listing the strategies and actions steps that would get us there?
Should we raise our prices just because?
Do we really want a business just for the money we can make from it?
Is it just me or does this all sound self-serving?
Back in the day, businesses were established based on principles and core values. Mom and pop shops existed to serve the community and to meet a dire need.
Goals were established based on the core values of the owners, values steeped in Biblical beliefs and based on the principle of the Golden Rule.
Customers were loyal because they knew they could trust the owners – they knew the owners had their best interest at heart.
Customers eagerly shared their love for the business and encouraged their friends and family to support the business owners as well.
Marketing was mainly word of mouth, because of the value the business brought to the community, because of relationships they built, and because of the genuine concern they showed to their customers.
I would like to take a stand to bring back values-based businesses. Ones that our great-grandparents would be proud of.
Businesses that seek first to serve its customers, build relationships, meet needs, inspire others, and then earn just enough to meet our needs and make us content.
Let’s commit to build a values-based business in the New Year that serves others.