It can be so overwhelming trying to figure out how to start a business. Lonely , confusing and seem so complicated as a new entrepreneur. Yet so many people make a success of it and make it look easy.
If you’ve ever taken business studies course you might be familiar with the detailed business plans. The problem is anyone who’s been really successful is not worrying about beautifully bound documents. There are several differences between creating bank ready plans and actually getting started with your business.
And now more people than ever are taking an entrepreneurial route with the great resignation and a record number of new business registered and never before has the barrier to entry been so low.
It’s never been so easy to start a business
When I started my leadership coaching business it was from the corner of my bedroom, training, coaching & speaking. It’s proof all your really need is a decent internet connection, a laptop and a mindset for success.
So I wanted to break down the steps on my ‘battle board’ for starting a business in this decade. Not the outdated rules of engagement. But the new world. With a fixed sight on your purpose, happiness and fulfilment as part of the goal.
- With flexibility to dictate your own working hours
- To push the glass ceiling and earn what you deserve including passive income streams
- All this while doing work that you are passionate about, makes you happy & fulfilled.
7 Steps to Start a Business
1. Mission & vision
Get clarity in your own mind about what your vision is, what you want from your dream business and lifestyle. Who you’ll serve and why this is important to you. The risk is that we’ll end up with a business we hate.
Ultimately this is your ticket to wok that fulfils you, it’s the intrinsic motivator that will make you want to go all in, even when you’re just getting started and it seems hard. This must matter more than any money involved.
2. Build Visibility & a following
1k Raving Fans – build audience & credibility
To start a business you need to be visible just like being on the high street. Yet it’s easy to get swallowed up in all the traffic online.
This section is so huge I’m going to cover these topics over the next few weeks. Why? Because this is section I naturally need to work harder than anything on. Yet is crucial! So subscribe and make sure you don’t miss a thing:
- Blogging/ Websites Domain set up
- Email List building – Landing pages, subscribe forms, welcome sequences
- Social Media
- Tools & Systems
- Personal Brand
In a nutshell this is where you show up and serve. You engage, build an audience, create a personal brand and serve authentically and constantly.
Create great quality content
I’m not going to promise you 1m followers in 30 days because it doesn’t really happen. The people you see doing this have been on a marathon of failures, leanings and the hustle before hitting that magic target.
Gary Vee talks about it often. Show up often, serve and talk to your audience, engage, help them. Listen to them. And expect nothing while you build your credibility.
Some say 90 days, but many successful entrepreneurs showed up for at least 12 months before they became the go to expert. I’ll say it often it looks like a mountain, you are not going to sprint up it. But you will take the right road, you will keep going and you will succeed in the end. I’m here for that journey and that’s why I don’t do 30 days business course because you won’t do it either.
3. Making Money in Business
I see this too many times, people get excited about starting a business, don’t calculate their costs before pricing their services and find themselves working for nothing.
I can’t recommend enough forecasting sales and budgeting. Whether this helps you make better pricing decisions or the revenue model to use. For example you might notice that a recurring subscription box model will work best for you and your clients.
I realised with my work that the long term success is what matters most. I didn’t see the value in overwhelming new business owners with huge in depth courses when they are on a journey that takes time. You need the information & implementation support in the moment that matters. That’s my vision for my membership. GRAB THE FREE SALES FORECAST CALCULATOR
4. Create a product or service that your customers want to buy
By this stage you’ve been doing a lot of listening and learning about your audiences pain points. This feedback will shape the product and service who will create your offer for.
If you’re testing a market a good starter to get people onto your product ladder is a £20 sale. It’s low risk to them, can answer their biggest pain point. Wins you credibility and is one of the best tops I was given in the early days.
It’s at this stage you will also want to get in place any legal aspects, like contracts, T&Cs registration etc.
How many businesses fail to launch properly? Let’s be honest have you thought about or ever created a product and simply put it up on your website expecting everyone to come along and buy.
Well I have and I can tell you that it was a monumental flop. That I let affect my confidence, when the reality was I had to tell people, sell why it will solve their problems, what problems. And make it worth their investment.
Sometimes this is the bit your have to iterate to get good sales, it’s all a learning experience, so don’t ever give up.
6. Serve with Excellence
If you had a job before do you remember how you worked so hard going the extra mile?
Whether its was because you knew the customer deserved it, or for a promotion or pay rise. Well this time it’s for you and your clients. So the extra mile just got even more rewarding. It’s for your mission and your clients desires.
Listen to the podcast to hear how Jesse Iztler (husband to Sarah Blakeley) sky rocketed his private jet hire business to be a huge success with this strategy alone.
And if you don’t feel able, up-skill yourself or your team to deliver more.
7. Review & Repeat
All the way along the journey document your reflections, the pain points, The improvements. Collect feedback and use this to make every stage that bit better for the next time around.
Starting a business can be hard. Working on these two areas of personal development will really give you the best foundations:
- Productivity & planning
- Success mindset & overcoming failure
Summary to Start a Business
I know it can set simple at first but then getting started and keeping momentum is one of the hardest struggles as a new entrepreneur. Too many nights spent in the busy work, making little progress and before you know it you start telling yourself you’re a failure.
That’s when dreams are shelved. we stay stuck in something that doesn’t work for our lives.
Let me support you in going from an overwhelmed mess trapped in an outdated traditional career to a purposeful business that works for your dream life. Gives you freedom, flexibility, more money and you feel fulfilled.
You got this, let’s make it happen!