Many people start a business but fail because they don´t ask themselves the following most important questions.
1. Why do you want to make a business for this product or service? What idea and mission is behind your business?
Many people frustrate in their business because they just do something to be independent and to get money. To build a business takes time and sometimes you have to face challenges and difficulties. If you don´t have any a special purpose why you started your business, you lose motivation and begin procrastinate, feel depressed and you don´t want to develop your business any more. Or another side of the coin is that you can get bored by your business and your customers will feel that you don´t care much about what you do.
But if you know why you starting your own thing, what you want to achieve, you put your heart into it and your customers also see that you care.
2. Do what you love.
Everybody has interests and hobbies. The most successful people are those who monetized things that they love. Why? Because they are really passionate about it and can transmit their enthusiasm to their customers.
Let´s say you adore programming. So you will be happy to sit and code. If you do it only to get money and feel bored and forced, so it will reflect on your work and quality.
If you love what you do, you are more creative, you are natural and you are happy,
That´s why follow your spirit.
You can´t force your heart love things, you can only let your passion give you inspiration for things you love.
3. People should need your products or services.
If you just do what you like and nobody needs it, nobody will buy it. That is the point where you should find a compromise between what you like and what people want. Also consider that how you present what you love that others feel that they desire it.
Your products or services should bring value to your target clients and cover their needs. And you should know how you can show the benefits of your product or service to your customers.
4. Define your niche.
If you already have defined your product and services, you should specify your niche.
What is a niche? It is a group of people who need your product or service. The better you delineate your niche, the more successful you will be. Why? Here is an example.
Let´s say you sell fitness gadgets for flexibility. So you try to sell it to a manager of some company. You list all the benefits of this gadget, numerous advantages, among them great results for the posture and back. You do your best and this person is not interested in your product. Whatever you say, he won´t buy your fitness gadget. Why?
The answer is very simple. This person doesn´t belong to your niche. This person doesn´t need your product. In the meanwhile girls, who love dance, yoga and fitness, they are interested in your product.
That is how it works. If you offer your products and services to people who need them, they will be happy to buy them and moreover to recommend them to their friends who also need them. Isn´t it fantastic? Of course it is, but you have to find the right niche first.
How you can define your niche and your ideal customers?
Answer these questions.
- Who is you target client / customer / reader? (age, sex, country, hobbies, education, profession, appearance, etc.) Be as precise as you can.
- How does your target client´s lifestyle look like?
- What needs does your target clients have?
- What are his or her values?
- What are his or her needs? What benefit can your product or services bring into your client´s life?
- What does your target client know about your product or service?
5. You should have a good working business plan and strategies.
Each business needs a plan. First you should start with a business concept and define your business as detailed as possible. Then create a business plan with financial calculations for the next 3 or 5 years.
Think about what perspectives and opportunities you have for the future. Can you imagine yourself working on your business and developing it in the next 5 to 10 years? Will the market need your product or service?
I know that it´s not easy to make a business plan that works and there are a lot of things to consider. So I will be happy to work with you on your business plan and help you to be successful.
If you already have a business plan, but something doesn´t work, then it´s time to open your business plan, check what didn´t work and why. Make corrections and elaborate new marketing strategies. Sometimes you even need to re-launch or re-brand your business. If you need help, I´ll be happy to work with you.
Having your own business and doing what you love is absolutely awesome. You can live a lifestyle you wish and it gives you happiness. But you can´t build a business in a day. It takes time and a lot of hard work, you should be able to face challenges and keep motivated till you get the results you wish.
Each person has a special talent and mission in this world. Each person has knowledge to share, services to offer and a product to create. If you feel that entrepreneurship is for you, then do it, go for it and create you business.
If you already have a business but face difficulties at the moment, don´t stop. Think about your concept, about the reason that lead to this situation and which strategies you can apply in order to put it on track again. If you need help, I´m here for you, so let´s work together.
Thanks so much for reading this article, if you liked it share it with your friends. Maybe it´s exactly what they need to know right now. Please write in the comments what is your biggest challenge or problem at the moment?