Are you thinking of starting a business? Perhaps the time is now; you’ve been thinking about it for years… Or, it just occured to you - you are tired of working in someone else’s cubicle and feel you could do a better job of serving the world.
You may have an internet business in mind, a brick-and-mortar business, something you can build from home. As you think through your ideas, here are five questions to dwell on as you begin the Journey to independence.
1. WILL IT MAKE THE WORLD A BETTER PLACE?
This is essential to your long-term success. Whatever concept, idea or product you have in mind, it must deliver value by making lives better. This also helps your marketing because you can tell your potential customers how their lives will be better with your products.
2. WILL PEOPLE COME BACK FOR MORE?
One of my ‘holy grails’ of business building is to create recurring income for you and your business. Think of the time, money and effort you will put in to acquire customers… And precisely because we have to use those resources, you want to make sure customers come back for more. This is part of ‘building your tribe’; having a tribe of customers that are happy being part of your enterprise. They almost feel like family - that sense of belonging is vital to creating a home your customers will want to come back to - many, many times.
3. ARE YOU PASSIONATE ABOUT IT? DO YOU TRULY CARE?
People want to know how much you care before they care how much you know. When you care about the value your products and services deliver, people intuitively feel that. They’ll know if you are just in it for the money. It will give them a much more “authentic” feel about you and what you are building. They will want to be part of what you have. Marketing is about building relationships with your customers so they see YOU as the solution.
4. CAN YOU TEST IT ON A SMALL SCALE?
This is one of the ‘secrets’ to get your business off the ground quickly. When you can test your business idea quickly and inexpensively, this can give you a huge boost in confidence, help you raise funds if you need to and help you tweak your business based on feedback from you initial customers. Sometimes called a ‘lean start-up’, it’s all about testing your ideas quickly to see if people really want what you have.
5. CAN YOU PRE-SELL YOUR PRODUCTS OR SERVICES?
This is another huge piece of value I want to share with you. If you can pre-sell your products or services, you’ll find this a tremendous advantage to raising capital and starting your business more quickly. By pre-selling your products or a package of products, you can incentivize customers to pre-pay by giving them a great deal or bonus for coming onboard early. This can help you test the marketplace, raise capital earlier (without loans!) and get traction now instead of later.
I am a dad, husband, entrepreneur, small business coach, motorcycle rider, snowboarder and dog person. I now focus on helping professionals, small business owners, leaders, moms and dads transition to having a business of their own. If you are looking for income help and ideas, join our Mastermind Membership.