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If you get into the marketplace before you do the following, your failure will be immediate or inevitable no matter how good your product or service is. I have studied successful businesses and self-made business owners and have discovered the first steps in starting a business. The following is not new information nor did I come up with it myself, but perhaps I can put it in such a way for you to finally take action. If you are already in business this will be helpful to you as well because you may be able to stop what you are doing until you complete the following.
Start your business with an ultimate outcome.
How will you ever hit a target when you don't know where it is? So write down your biggest wildest dreams of this business idea and what your life would be like if it happened. Start writing anything that pops into your head. Try not to think about what is possible or how you would ever achieve this. Once you have brainstormed all the vague possibilities start shaping it into a S.M.A.R.T. goal. A S.M.A.R.T. goal is specific, measurable, attainable, relevant, and timely.
In the end, you should have a defined point or target with numbers and a timeline based on real figures and research. This ultimate outcome should excite you and pull you to want to achieve it. If the outcome does not excite you then you may want to keep working on it and change it until it does. Take your time with creating your ultimate outcome and be prepared for it to change in the future.
You must have a WHY that attracts resources.
"People don't buy what you do, they buy WHY you do it" Simon Sinek. The biggest companies in the world have at least one thing in common; they cater to the reasons their loyal customer buy products instead of the products themselves. If Apple simply presented you with an iPod, chances are you would have never bought it. Instead, Apple presented you with a chance to be part of a movement.
Think about why you buy a product. Do you really care about what type of car you drive or is it more important that your children are safe while you drive? Does it really matter how you are dressed or is it more important how you feel in your clothes? If your business is focused on WHY people should buy your product or services, then not only will you get more clients but you will also attract people who want to help you grow your business.
Use your WHAT and WHY as motivators for you and your team.
In addition to WHY your customers should by your product or services, you need a WHY you should sell it. What is the reason you are starting this business? Why must it be you to start it? Why must you reach your company's desired outcome? Steve Jobs once said in an interview that you have to really love your business in order to survive it. I believe he is talking about the big WHY.
As you bring more people on board they need to buy into the desired outcome of the business and why everyone must work together to achieve it. All of that must start with you, If you continue to focus on your business' WHAT and WHY, then your team and supporters will follow you or leave you.
It is important to clearly define WHAT the outcome of your business is and WHY anyone should buy into your product or service in order to be successful. These two elements will be one of your greatest motivators during the inevitable hard times. You may be thinking, but HOW do I start a business? There are many strategies that help you start a business but without a clear WHAT and WHY you don't deserve nor will you ever implement the HOW. So start here and then move forward.
What do you think? Leave a comment below and share your thoughts with me? Do you agree with my findings or am I dead wrong? Are you doing things differently with success?