Tuesday, 8 April 2008

The Future of Online Business

Are you wondering what the future holds for your online business? Whether you want to predict your future or prescribe an outcome of your choosing. Ideally, that future will align with our passions, gifts, and what we (or our companies) can really be the best at doing.

1. Identify Your "Hedgehog Concept"
A hedgehog concept actually represents the intersection of three areas:
1) What you're most passionate about
2) An understanding of what you could be the best at doing, and
3) A metric that drives your economic engine and helps you measure results.

2. Define Your "Business Success Criteria"
Why is this so important? It's not uncommon for people to wander into businesses, projects, and professions opportunistically, which means that they often select the next available and convenient thing that comes along. At times, this may be necessary for financial reasons. But unless we understand our underlying success criteria, we might not recognize the options that truly fuel and inspire us -- those that are best suited to our passions and strengths.

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