Connect all the Dots to Avoid Business Tunnel Vision
I believe that the only way to get the entire picture on the state of your business is to evaluate each aspect individually and in respect to the operation as a whole. I like to refer to failure to do so as “business tunnel vision”. What happens to well-intentioned entrepreneurs who fail to connect all of the dots before making important changes to their business practices? Unfortunately, disastrous decisions can be made.
Don’t make adjustments based on what competition is doing without evaluating consumer demand. Don’t obsess about rising costs without noticing what’s happening in the marketplace. And, don’t fail to consider each of these factors in respect to the entire picture! Just as in life, remaining well-rounded in business will serve you well.