Blue print for Start Ups (Part 1 of 2)
What no one wants to tell you when you start a business?
I have always struggled to understand why majority of small businesses lack the knowledge and understanding of what I call the “house rules of a start-up” which are critical to the success of every business.
Is it selfishness on the part of those who have trodden that path and become wildly successful unwillingness to share their secrets of success or is it the scarcity of coaches, trainers and experts who know this area of business well enough to confidently impart knowledge?
When you start your own business you are looking for people with expertise and those who have been successful in their business to help and guide you to success, and there is no shortage of coaches and trainers who are willing to part with their knowledge on search engine optimization, online marketing and a whole host of other schemes and get rich strategies in return for profits, but amazingly the offer of coaching, mentoring and training in the nitty gritty of real business success are very scanty.
By not having this vital knowledge at the right time of your start up could seriously jeopardise the growth without you even knowing. After all, “what you don’t know doesn’t hurt” right? Very wrong. I cover these in my “Quantum Start up” Online Programme, because all start-ups deserve to know.
The Mind Game
If you want to be wildly successful in your business, it all starts with you. Sometimes people get stopped by their own limiting beliefs or fear of failure, or just gets stopped by life – people pulling you down, you getting ill, and all kinds of life’s wonderful challenges, but if you are absolutely certain of why you want to succeed in business, you carry on and become unstoppable force that are committed, resourceful, creative, flexible, determined and at the same time willing to surrender if need be.
The nature of being an entrepreneur is a problem solver. You are solving problems for customers and clients in exchange for a profit, and every successful business is built around recognising a problem that needs an innovative solution. See yourself as a provider of solutions – you are responsible for identifying and quickly solving any problems people might have.
If you want to solve people’s problems and serve them, it’s important to start with a clear understanding of the fundamental problems they collectively face. This could be healthcare issues, unhealthy foods dominating our supermarkets, broken education systems, relationship issues – the list goes on.
Ask yourself what kind of difference you can make to people’s lives and what sort of positive impact you can make. You can generate huge profits by making positive impact in people’s lives and making the world a better place.
What are the solutions?
Can you find an enjoyable and authentic way to solve people’s problems and make a positive change in their lives, whether economic, educational, healthcare or spiritual, and bring about a radical transformation in their lives? Can you cultivate love, relationships and communication? Can you heal people? Can you empower people? Can you raise people’s consciousness? Find ways of getting needs met that are sustainable as well as socially and economically acceptable.
What do you want from being an entrepreneur?
So you are determined, hardworking, and organised person, able to get out of bed in the mornings, but what about choosing the business that is good fit for you? Think carefully about what you want from your business.
Consider carefully why you want to run your own business and research the opportunities you are thinking about thoroughly before making any commitment. Consider your strengths and attributes, and your passions, and draw a short list of potential opportunities that would be best fit.
If you think you are cut out to be a business owner. Look for a business with present and future huge potential that will deliver the lifestyle rewards and fulfilment you are looking for.
You are the boss
You want to make money, but how do you want to go about it? Apart from other considerations, you need to establish why, and if you know what it is specifically you want to make the money for, it will likely confirm why you want to be in business. It will also serve as reality check as to the feasibility regarding your capability and realities or the worth of the opportunities you are considering.
For most people the reason for wanting to make money is generally to survive and to have a better lifestyle, but the more thoughtful have clear ideas about what the money would be used for. Only those with specific goals achieve their aims, so have specific ones. Some goals may be to supplement existing earnings or earning enough to replace or exceed existing earnings.
You need to be sure whether the need is on-going or short term as this will help you filter out your options by relevance. It will also help you focus your mind on whether you need to move from your existing employment or do something part time or full time. Whether you want a new opportunity to supplement your income or replace it, there are numerous opportunities around.
Evaluating your options.
So what is the best fit for you? What are you good at? What do you have experience in? What are you passionate about, and what do you love doing? For example, if you are considering being a potential relationship coach/counsellor, are you a good listener? Do you have deep empathy and compassion? Do you have excellent communication skills? Do you have success in your own relationship? Are you good at helping people set goals and achieving them, and bringing about significant changes in their behaviour and life?
What are you passionate about? If you are truly passionate about something, you’ll be able to overcome tremendous amount of adversity, lack of experience and knowledge, because all these can be acquired if you are passionate and committed enough.
Understand clearly what your business model is. For profitable growth, work out the leverage model you will use to scale the business, focus your range of products and service lines, market sectors and geographies where you have a real chance of succeeding.
The more you focus, the faster you will grow. Ensure your market propositions are both high value and unique. Change your market propositions to match the economic conditions of the time, and the trends in the market.
Markets and customers change over time, and so must you in order to optimise your growth. Spend enough time working on your business instead of working in your business. Balance your work and home life, as all work and no play will affect your health, family and ultimately your happiness.
Caught between two well-trodden paths
Going it alone, the trial and error way, or getting training, coaching and mentoring?
When you start your business, basically you have two paths to choose from.
The trial and error path is painfully time consuming, frustrating, overwhelming, often disappointing, and on this path you will end up with very good education in the end, and can eventually become successful, but it can also end up costing you even more than the most expensive training or coaching in terms of missed opportunities, lost time, wrong turns, stress and anxiety and money.
No business individual reaches their full potential operating as an island, and going it alone. Even the most successful multibillion individuals and businesses needed coaches and mentors, and still do need them for support and insight if they are to manifest even bigger visions.
Understandably but sadly, many businesses choose the solo path for various reasons – unwilling to invest in themselves and in their businesses.
To your Success.