There are so many things to do and many ways to succeed – but where do you start? It can be tough to know what to focus on when you start a business.
In this week's episode, I'm breaking down the THREE key areas to focus on when you're just getting started, which are crucial for quick business success.
As a seasoned entrepreneur, these three focus factors are anchors that I come back to again to scale my business to the next level.
And had I zeroed on this from the beginning, my business could have been a lot more profitable faster.
FOCUS FACTOR #1: WHY
Before you waste an ounce of energy thinking of your brand colors, logo, or how to build a website, the first thing you need to get crystal clear on is your why.
Why are you starting this business?
Yes, of course, to be your boss and make a boat of a lot of money as you transform lives, and fingers crossed, have more time to spend with your loved ones. All is well and good, but I want you to take it one step deeper.
Scratch that, seven steps deeper.
This simple exercise, 7 Layers Deep, will help you unearth the genuine reasons you want to build a brand and business you can be proud of.
After all, the brands with a firmly anchored why and mission behind their message not only stand out, they thrive.
Take, for example, Toms - not only offering stylish shoes but, to date, has positively impacted 100M lives with their buy a pair, give a pair campaign.
Building a business from scratch takes grit. It's guaranteed that obstacles, sticky points, and deep ruts will happen. When they do, if you know you're why, it'll help pull you out and propel you back into action towards victory.
FOCUS FACTOR #2: WHAT
Once you know your why you can begin to dial in on the what. What type of legacy business do you wish to build? What transformational kind of experience do you want to provide? And for what kind of people?
Answering these critical questions will help you write a powerful promise statement, and your brands messaging will become powerful marketing that'll attract the right people to your offer.
FOCUS FACTOR #3: HOW
Now that you know what, why and what you'll offer, the third focus factor is to narrow in on how.
How will you attract your ideal clients? Which ONE marketing strategy will you focus on mastering first?
Suppose you'll be using social media marketing, then choose ONE social platform. But not any social platform, the one platform that you're ideal clients prefer to connect on regularly.
For more help on deciding which social platform to use, tune into this OBC episode #139: How to Develop a Social Media Strategy Step-by-step Tutorial
Once you decide on your marketing strategy, how will you show up and encourage authentic engagement?
And (most importantly) how will you quickly provide a product or service that begins to earn your business money?
After all, cash flow is the lifeblood of a business.
Business cards, fancy headshots, and stressing over how to make everything legal, none of it means anything if you cannot prove that your business idea is profitable.