Business 101 – Starting Out What You Need To Know
It can seem really intimidating when considering starting any kind of business in fact – any kind of change or career can bring up a sense of impending doom thinking that we may be making a BIG mistake! And, I know this too well. I spent many years trying many things with little help from others and I have had the learning of a lifetime already.
So, I thought it would be cool If I shared with you now some of those really important things that can determine whether you make a success out of what you do OR NOT! Sometimes, we do things in life that we kind of know are going to cause us problems but we still do them! Ever been there? Well, I WAS ONE OF THOSE! I tried it all and THOUGHT that I could do it alone! Boy was I wrong! And one of the most important things I have learned (which has helped many of my clients since) may help you when starting out with a new idea – And it is that ‘you really need to know ‘why’ you are doing what you are doing and you need get help with to finish what you start.
I can tell you from experience that ‘If I had known just those two things’ over 10 years ago I would have created a great deal more growth and success Wayyyyy quicker ‘and’ saved myself so much stress, depression and frustration! So, take notes here or don’t it’s up to you but, I will share what I think ‘will’ make all the difference to your rate of success or not! Cool? As someone who has written 23 books on success and happiness and has a coaching practice and courses with clients all over the world creating success stories daily I think that it is time now that I shared the fundamentals with you free of charge.
So, let’s now have a look at some of ‘the most important factors in starting out’ so that you do the right things at the beginning and create enough answers and take less risks. Without doubt, there is way more risk in a situation where I see someone getting super excited with an idea BUT with no clue about what to do with it. YET they still throw all they have got into it and then in a year, 2 years or even 5 years wonder why they have failed! And it’s ALL BECAUSE they have not executed proper research. Without putting in the right work in the first place you can truly forget starting and succeeding in any business.
So, my first suggestion is – don’t fall victim to this, instead – why not learn from a seasoned 10 year business growth veteran? (That’s me by the way!) And in my experience and business growth I know MOST of the pitfalls! True guidance is worth so much and I believe we all need it at times in life, so I have included what you need to do in this post.
Ready To Take Some Notes? By the way I am not holding back here!
- For Goodness sakes ‘get some ideas down first’ and look at your passions. DO NOT just assume that an idea will work! Some do and some don’t. That’s life! You need to to go deep and narrow, digg deep, drill down into ideas and see where they go as some ideas are worth $0 I’m afraid. Whilst other ideas could be worth Millions of $$$. So, start right there and investigate markets, needs, gaps in markets, trneds, tech areas, start up areas, small business areas and any other area you may have an interest in. Get to know it.
- From there you can start to formulate these ideas looking deeper at these markets, so get a team and do some homework. Are you entering a growth market? Or are you going to be innovating something that already exists? These are the kinds of things that you need to ask. Perhaps you are an inventor? So, how will your invention make lives easier? Once you can see areas and have talked to experts, professionals and successful business owners you will start looking at ‘who’ you are aiming at exactly before you throw time and money into something. Missing this is a rooky mistake as – it doesn’t matter how ‘shit hot’ you are in any area, you need a bridge between you and your customer first. So, you will need to work back from your customer’s needs first. Again deep research is needed.
- You need to know what your finances are! What kind of outlay you may be needing. Do you need a loan or to borrow from someone? Seemingly simple things such as start up costs many vary so you really need a team here to look at spending/expenses versus what you are expecting to be able to bring in from sales and grow. You will create weekly, monthly, quarterly and yearly projections and goals for these things as you move forward. So, you will be monitoring your numbers and – if needed please get help with this. You will have to learn to pay yourself first no matter how small. Why? This is so that you learn to see how and what you are growing. This holds you accountable and lets you see where and how you need to focus, take action and make changes to increase and improve growth.
- You are going to start looking at how you can differentiate from the rest also. How can you stand out? If you don’t create something new or fresh then at least be the best you can be in the market. This is to gain enough traction and market share. How and why will you be different? What are you going to offer? Who do you know now doing something different like this who you can ask questions from? Ask questions and learn from them. Look into successful business owners in this arena and look at who has market share versus market saturation areas. Study relevant forums and magazines and subscribe to lists of the successful entrepreneurs out there already.
- Always have a back up plan. An exit strategy is crucial as you will be able to get out if you need to. And of course you will start with a plan also. Whilst plans change naturally you will change with it. But have a plan. And know that there are no guarantees.
- Timing is crucial. get this wrong and you will fail. So, it’s time to create your ethics, message, strong vision and strategy to move forward with – so you need to focus and aim on expressing your brand from here. With a great brand coming from you and your core vision and message you can start to look again at how you are starting to connect with your ideal customers/clients.
- Stick with your biggest strengths. Focus on what you are best at and don’t waste time on trying to do it all, instead outsource your weaker areas.
- Always Be open minded and flexible and be prepared to tweak as you move forward. You will need to get used to challenges and embrace them with logic so as to not get emotional at the first sign of a problem.
- Take massive action every day if you can. If you are in a job or studying right now then you will still need at least 2 solid days per week to commit to this. Nothing beats momentum and action ‘and’ you will face things as they arise with the right mindset as you just keep moving and delegating regardless of emotional blocks. By the way – Even though you are learning to delegate you still need to know what is going on so take an interest in all areas and be a great communicator. Never underestimate communication it can make or break a business.
Start here and you have a much greater chance of making something work that has meaning to you!
If you are as passionate and as energetic as I am about business growth then you really need to know these things right at the beginning. Even though there are no guarantees of course.
Business 101 – Starting Out What You Need To Know Now.
If you think about it, from a very young age we ‘all’ needed guidance and help and, in my opinion this should never end. Life is all about growth and expansion but the trouble is – we are never taught this stuff. By definition being an entrepreneur is risky but, we can roll with the journey as we grow and learn as we move. It’s just that, I think it is far wiser to learn and grow the right ways as this is part of building a the journey that is worthy of us. However, as much as we may plan it pays to always expect the unexpected.
We just cannot be expected to know ‘all’ that we need to know and it can be very painful learning so, what i did was to create a simple, 3 step process that anyone can follow and which I have used myself to grow a highly successful coaching and writing business. I created an ebook and webinar for creating a truly passion driven life, career or business. There are rules which just work and as I said, sometimes we all need a little help with starting out some making changes to discover our passions, skills and talents.
So at least we start at the beginning the right way.
What I have done is created a webinar for you which you can watch FOR FREE below and – I am also giving away my powerful ebook love, passion and purpose which I created firstly for myself and then as a course. So if you want the mini book, all you have to do is check out the webinar (which may really help you gain some clarity about what you might want to do with your life) and at the end I will give you a link to the book.
Failure is pretty simple really!
I struggled for over 5 years and tried to do it all myself. and I FAILED! Over and over again! It wasn’t until I woke up and started seeing where I needed help from a team that I really began seeing the power and growth of doing so. You see, when we get help and guidance we can focus on what we are great at! And when fail to do this WE JUST FAIL! Help wasn’t there for me then so I motivated myself, and as I grew I got coaches in various niches to help me. Once I studied every area of business and mastered my business model I started seeing more and more clients and growth. I still have several coaches who ‘all’ help me in different ways and my brand has gone from strength to strength since then.
Business 101 – Starting Out What You Need To Know – If you need to develop some skills then develop them but don’t lose focus!
Thats what I do and what works for me and my clients! I know how to have productive days as I work on what I can do well rather than a bunch of things that will get me no further forward! So, I grew my skills and as a writer and coach helping clients globally and locally I can do what I do best whilst I let ‘my small team’ do all the tech stuff which I frankly hate! So, my point? Find ‘those things’ you can do very well, use those skills and build a life/business around it, that is as simple as I can make it. And that is key to living a happy and successful life!
And – when we are doing our best work – we are happy, creating success and being productive in something we are passionate about so, we are more lively and energetic and thus expand with more success into a cycle of growth. This is the path I want for you. But, when we fail to look at some of the factors I mentioned just now and we fail to look at ‘what we may wish to do’ or love to do, we drift, get stuck and frustrated and go into a downward spiral in life, careers and in business.
Business 101 – Starting Out What You Need To Know Here are some starting out tips when thinking of getting that business going!
Here are some wise words here from someone whom I respect a great deal and that is Rich Schefren. Multi Millionaire Multi Business Owner. If you look at that list you will see how to start something with as little cost as possible. Of course this varies greatly on the business model you choose or are thinking of choosing. So, take notes and see some of these key and transformational tips. This is from his latest program where he will walk you through these elements (I am not promoting that here by the way). All I wanted you to see was the clarity and simplicity of this.
If you were to just study each of these areas in full detail and go deep and narrow into each one drilling down to master what is required and getting help with what you need help with, you will be statisically in the top 10% of new business start ups who have no clue about this nor care so likely will fail in the first 5 years.
What separates a successful business from an un-successful one comes down to a few principles combined with what I have outlined here in this post. Couple this with a never ending ability to tweak, test and improve so that you don’t become blinded by continuous change and customer/client demand and you will more than likely succeed over 90% of start ups. And so in that sense it’s simple! Do the work up -front and get help if you need it.
Business 101 – Starting Out What You Need To Know
Why most businesses fail!
You wanna know where most people go wrong? They focus on speed of income and the money alone. They EVEN may create great products and services OR so they think, yet they fail! Why? Because they have failed to ask the simple question of WHO IS THIS FOR AND WHAT IS IT ANSWERING! Or WHO IS MY CLIENT! Something which all business owners and start ups need to address right at the beginning before they plough money, time and resources into something new.
Just as I say to my clients – I really look forward to learning more about your ideas, business growth and passions and I know that with a map and a great vision you can create a plan to get you there. You can create a great brand, business/life or career from getting to the core of what really matters to you and building something worthy around those core values. If you feel as though you need some of that clarity right now then try out my webinar as I think it could really help you gain some well needed focus right off the bat. You can drop me a message anytime at my contact form or by emailing me @ firstname.lastname@example.org I also offer 1:1 small business growth coaching @ www.GregDeTisi.com
You may also like this page >> Small Business Growth Tips
The Webinar and ‘free ebook’ is here > The 3 Step Simple Solution To Creating A Passion Driven Life, Career Or Business