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.
- Have something that people want or need and know who those people are
- Make sure those people are willing to pay for it
- Make sure those people know that you have something that they want or need
- Make sure those people know that if they want or need this thing, they should get it from you and not from someone else
- 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