07 Nov The 5 Steps to Unlock Business Success
You’ve heard the mantra, nothing worth having comes easy. But, could you take certain steps to ensure that you’re successful every time? I’d like to think so. In fact, that’s what I’ve done over the years to position my business to do well, despite all odds. Because when you truly reflecting on what you want and you are willing to put a plan in place to execute your vision, nothing can stop you. Here are my tried and true five steps to business success.
- Hone in on what your customers want. Having a product is one thing, but offering a product or service that your customers actually want to buy is a whole other ballgame. You can’t assume the “build it and they will come model”. Simply put, you need to build what your customers want. And, part of this is also delivering a truly unique solution that customers have to come to you (and only you) to have access to.
- Stand out from the crowd every time. If you’re not careful, you’ll be swept up by the white noise of business and your customers won’t even know that you’re there. Don’t settle for “good enough”. Instead, always seek to go over the top with your product or your service so that customers know that when they spend their money they are getting the very best that no one else can offer them.
- Don’t be afraid to brag a little. All too often entrepreneurs invest time into creating this amazing business, but they never market it or don’t market it enough. If you have a phenomenal product offering, post it on social media, get out there and network, share your business as often as possible. You want to generate as much buzz as possible so you can make it easy for new customers to find you.
- Get your execution team ready. The truth is, even if you have an amazing product, it likely won’t sell itself, without some effort on your part. You have to put in the hard work to get it in front of the customers, to collect feedback, to find ways to evolve and grow. All of these areas require having a winning team in place to get the job done. If sales or marketing is not your strong suit, then get the experts in the business to help you, or at a minimum make sure those on your team have strong backgrounds in these core business areas.
- Track your money – at all times. Most businesses go bankrupt within the first 5 years of operation. Why? They usually run out of money. You want to proactively avoid this at all costs. Do your research. Figure out if this is the right market or the right product to sell. You could very well have a great idea, but if the margins are too low for your company to be profitable, then this is something to know before you start your business.
It’s important to keep in mind that these aren’t the only steps to success that you can take. But, I’ve found that when I start out with these five I put myself on track to perform at the highest level and for my business to grow. The truth is, success is not a linear path. Oftentimes you may need to pivot, change directions, or make a new course to get you to where you want to be. Success is as much rooted in being intentional in what you do, as much as it is about getting in the right space, with the right product, and in front of the right customers. If you take the time now to reflect on what you need to do to be in a prime position, you will inevitably put yourself on the path toward success.