Starting a business is you fighting for your life! A life that you can live on your own terms. People always tell me that I am being extreme when I say things like that, but I’m serious. Think about it for a second: do you like who you work with? Do you love what you do? Are you happy with your schedule? Does your boss really have your best interest at heart? Life is too short to overlook these questions.
When thinking about it in light of those questions, starting a business is about much more than the amount of zeros that you want to see in your bank account. It’s about you living your best life, doing what you love to do, and working with who you want to work with. There is no greater definition of personal freedom than that, and at the end of the day, these are the things that matter.
But let’s be honest, starting a business is both exciting and scary. On the one hand, there is no greater way to gain financial freedom and personal fulfillment. On the other hand, the challenges and risks involved have been known to chase away many and cast their dreams down, never to rise again. This post will help you turn your entrepreneurial dreams into reality by outlining key steps that you can take to start your business with confidence.
Identify What Business is Right for You
People always ask me if a certain investment idea is good or if a certain business idea is viable. I always give them the same answer: there are no bad investments, just bad investors. Of course, that’s an oversimplified answer designed to get them to think about the relationship between the investor and the investment rather than looking at an investment as a singular entity.
Starting a business with confidence begins with you – not a particular market. The idea is to identify your strengths, interests, and aspirations. There are two types of people in the business world: those whose main driver is money and those whose main driver is purpose. I have nothing against the former, but I would advise everyone to strive for the latter because fulfilling your entrepreneurial purpose will add personal fulfillment to your financial fortune, and that is something that money can’t buy.
Therefore, identifying what business is right for you starts with knowing your strengths, proceeds with knowing your purpose, and ends with connecting these elements to a market where you can create continuous value.
Craft a Business Plan
Think of your business plan as your roadmap to success. It will outline your strategies, goals, and financial projections to keep you focused as your business grows. The complexity of your business plan will depend on the size of your planned venture, so we will focus on a basic one in this post that is not designed to secure funding from investors.
A simple business plan to keep you on track will consist of an executive summary (this is a fancy way of referring to a summary of the main points of the completed business plan), business description, market analysis, product or service offering, marketing and sales strategies, and financial projections. Be clear, concise, and realistic when drafting your business plan. Also, remember that this document is not written in stone; it is an outline that should be reviewed and updated regularly to reflect fluctuations in the market. These basics will help you to stay clear on your goals, be adaptable to market changes, and be motivated through difficult times.
Build a Strong Brand
Everyone either has a brand or is a brand these days. The word has been used so often that is has lost some of its meaning. Turning your dreams into reality means that we have to unpack this word again with a fresh set of eyes to understand what a strong brand really consists of.
First, do your homework to gain clarity on what your business’s core values will be, what your mission statement will be, and what your unique selling proposition will be. These elements will guide your decision-making process and help you stand out from the crowd. Remember, trust is built through the consistency of your message, and your brand’s message will always come back to these three factors, so take your time and dig deep to pull out the jewels that will resonate with your audience.
Then, we move on to the visuals. This is the first thing that your audience will experience with your brand, and we all know that first impressions are everything! Yet, let’s not overcomplicate this; focus on three things as your foundation: logo, color scheme, and typography. These three elements must be kept together across platforms and various marketing pieces to help create a memorable impression, build trust, and drive your message home.
After that, we work on your voice. By voice, I mean the consistency of your message, the consistency of your communication, and the quality of your customer service. When your brand is built on these basics, there is no limit to what you can build in terms of an audience, market authority, or income.
Marketing and Sales Strategies
Your marketing and sales strategy starts with your customer – not yourself. This sounds obvious, but many people sell what they themselves like and wonder why things don’t work out. Not you! You’re going to identify your target audience to gain a clear understanding of their wants, needs, desires, preferences, and behaviors. If possible, get to know them better than you know yourself! This information will be instrumental in creating marketing messages that speak directly to the pain points of your audience.
Okay, this is where it gets fun! You have so many marketing options to choose from: content marketing, social media marketing, email marketing, pay-per-click, and SEO. Discussing these strategies is a blog post on its own, but rest assured, we have you covered with our built-in business systems that help you get paid while you learn how to master these elements of digital marketing. Click here to browse our digital business systems.
I have a pretty good amount of formal education, but make no mistake, none of it is as valuable as an education in sales skills. I would strongly encourage you to study this subject as it is worth its weight in gold across various industries. For now, focus on building robust relationships with your audience, offering them personalized solutions, and speaking directly to their pain points.
Your Online Presence
Modern-day entrepreneurship is all about the digital economy. Your online presence is a crucial element that will help you turn your dreams into reality. This starts with your website. Think of this as your digital residence. When people drive up to your place, you want them to be impressed by your taste in aesthetics, the elaborate display of your products and services, and the inviting flow of your messaging, so be sure that your website is professionally created. You can either hire a web designer or learn to use WordPress, but please make sure not to cut any corners in terms of quality here.
Your online presence will fall short without utilizing social media. There is no better way to connect with your audience than social media. Think outside of the box, share your story, share valuable content, and engage with your followers. Level up your strategy by using strategic social media advertising to increase your following. There are so many platforms that specialize in different types of content, so choose wisely.
Conclusion
Starting a business is you standing up for yourself in a way that no one else will! Owning an asset that will make you invulnerable to political changes, economic downturns, and shifts in corporate management that make your job obsolete should be a priority that is at the top of your list. In addition, more people become millionaires in the United States through entrepreneurship than any other path. Click here to start your online business today with one of our built-in business system packages. What are you waiting for? Download our free online business blueprint and start earning today!
Turning your dreams into reality will take a certain amount of courage because you will have to manage the risks that come with owning a business, but the rewards far outweigh the challenges. Start your business with confidence by implementing what you learned in this post. But don’t stop there; continue to grow in your entrepreneurial knowledge with resources such as books, webinars, networking events, and online courses. With the right planning and persistence, you are well on your way to a level of financial freedom and personal fulfillment that you never thought possible!
