Getting started in business is a big step that involves a whole new set of skills, knowledge and way of thinking, way beyond the service or product that you’re offering.
- A passion for/belief in what you do
- A clearly defined niche (your specialised market)
- A business plan
- Systems and processes to deliver your targeted products/services to your niche.
If you read my blog about being authentic in business, you’ll see that being truly passionate about what you do has a cascading effect in all areas of business. It builds trust in your customer, it proves you as a strong role model who leads by example, and it ensures your commitment and dedication to ongoing learning and client satisfaction (to name a few).
A niche is a special part of the market that you occupy; an example of a ‘market’ is a toy shop. A particular type of customer goes there – usually children.
Because you can more clearly define or identify:
- the needs of your customer
- the messages and images that will attract that particular customer
- where your market is (local, international, within specific clubs)
- whether you can charge a ‘specialty’ price
You can also set yourself apart from competitors more easily by offering a unique service (by the way, ‘personalized service’ is not a niche).
This is ‘Coaching 101’. Achieving success starts with a vision (what you want and why) and a progressive series of SMART goals to get there.
Option 2: you could plan your holiday: work out a destination (your vision), figure out which season to go in, organise time off work/school, book a flight, pack the right clothes, find a dog-sitter and get a friend to collect the mail.
Systems and Processes – what are they?!&
When you try those dresses on, you want them to all to fit you, right?
How frustrating would it be if one dress was too small in the bust and another too broad in the shoulders!
- creating consistency and accuracy in your business
- training staff so they do things the same way/deliver a replicable product
- increasing your customers’ trust in you and your services/products
- delivering value for money avoiding costly mistakes.
Some business owners have a good understanding of these aspects.
But about 90% of businesses don’t have a business plan. If you need help getting started, our Business Mentoring service may be of assistance – contact us for more information.