The Fool-proof Way to build a Successful Business

2017 was a learning year for me. And, after running my own company for ten years, I've finally come up with the fool-proof formula for building a successful business.

Amazingly, it’s only five steps.

  1. Have something that people want or need and know who those people are
  2. Make sure those people are willing to pay for it
  3. Make sure those people know that you have something that they want or need
  4. Make sure those people know that if they want or need this thing, they should get it from you and not from someone else
  5. Make sure that the way you deliver is so good that they come back for more and they tell their friends

A lot of businesses do half of Step 1 - they have something people want or need, but they don’t know who those people are.

Some businesses fail at Step 2 - the people out there just aren’t willing to pay for what you have.

A lot of businesses fail at Step 3 - because they don’t know who they’re aiming at in Step 1, they waste time and money shouting about themselves to the wrong people

A lot of businesses fail at Step 4 and end up cutting their prices to try and compete.

And a surprising number don't put much effort into Step 5.

We'll go into each step in a bit more depth over the next few days.

Take action: Give yourself a "Got" or "Need" against each step. How many "needs" do you have? If it's more than 1, then we've got work to do.

PS: If you know someone you feel might want a bit of help with this stuff, send them here

Rahoul Baruah

Rahoul Baruah

Rubyist since 1.8.6. Freelancer since 2007, dedicated to building incredible, low-cost, bespoke software for tiny businesses. Also CTO at Collabor8Online.
Leeds, England