When you visit an unfamiliar shopping mall, your first instinct is to find a mall directory. It helps you locate where you are and plan your journey. You may also look for an "X" marking to pinpoint your current position.

Think of your professional services business as a mall. Your brand name stores represent the services you provide, which draw customers in with their prominent signage. The smaller stores between the larger stores symbolize additional offers, resources, or complementary services you provide to entice potential clients.

But what about the "X" in this analogy? It represents your current position as a business owner. Do you truly know where you stand right now?

Many small business owners lack an understanding of their current situation, whether it's their business data, strategies, or systems. To effectively move forward, you must first understand where you are.

Here are three areas to help you determine your current business situation:

Your Current Data

Start by examining your business data comprehensively. Your data is like the DNA of your business, telling a vivid story. Look into various aspects, including financials, leads, sales, marketing, website performance, social media engagement, client feedback, and internal systems. It's essential to collect and analyze data from all these areas.

This process requires thorough investigation. The more you dig, the clear the picture becomes. Whether the results are positive or negative, understanding your data is crucial to making informed decisions. If you lack the time or expertise, consider hiring someone who can provide you with detailed analysis.

Your Current Offers

Once you've assessed your business data, focus on your current offerings. Ask yourself questions like:

• How effectively do your services deliver results to your clients?

• Are these results meaningful to your clients?

• Does your business provide value?

• What sets your company apart and makes it unique?

• Are your clients satisfied, and do you receive referrals or testimonials?

• Are you collecting data to demonstrate the results of these questions?

Evaluate how well your business aligns with your client's needs and expectations based on your data.

Your Current Systems and Strategies

Analyze whether your existing systems and strategies support your data and offers. Do they align or fall short of your objectives?

Once you've completed these three assessments, you'll have a clear understanding of where your business currently stands. With this knowledge, you can ask yourself:

• Which offers are succeeding, and which are not?

• Do I need to expand or streamline my services?

• How can I enhance the value I provide to clients?

• What can make my business more unique and effective?

• Are my business goals in harmony with my personal aspirations as a business owner?

• What new strategies and systems should be implemented to bridge any gaps?

By addressing these questions, you can make more informed decisions and navigate your business toward future success, now that you know where the "X" is in your business mall.