O.K so you are in start-up mode and you have established your vision for your company and where you want to be. Regardless of whether you are in the planning stages, in the middle of your start-up or if you are well on your way, it’s extremely important that you clearly define your business.
Defining your business is the second step in the 9 step start-up system I’ve developed. If you’d like to know about all 9 steps, I’ve created a FREE Checklist that is available for download right here.
One of the first things you what to do is to clearly articulate what your products and services are and be as specific as possible and establish what the parameters are. It’s a good idea when you start out, to start out with both a clear definition of what you do and don’t do, because it’s easy to say yes to a lot of things and get creative and want to help people in a lot of different ways.
However, it’s very important that you keep focused and stay as narrow as you can, at least in the beginning. Otherwise, it will be very easy for you to get off track on not build your business as intended.
This doesn’t mean you can’t change later, it just means you want to start with a fairly tightly defined focus.
Then I recommend that you go deeper and get right under the “hood” and define your magic, your special sauce … I want you to ask yourself what your unfair advantage is? Your unfair advantage is basically something that you bring to the table that nobody else really does. We are all unique, so put some thought to that, I’m sure you have a great unfair advantage.
Then ask yourself how you can articulate your business beyond the obvious while incorporating your magic and your unfair advantage. What extra value can you add to your business to make it extra special, perhaps even irresistible?
For example, perhaps you are a sports retailer who also sells online. Don’t think of yourself only as a purveyor of recreation or fitness products. Go deeper than that. Think of yourself as an enabler of fun, joy and personal health for example. Maybe you also offer training, physical or event mindset training on what it’s like to be a great athlete.
What is your business beyond the obvious? I think you get the picture on this. The idea is for you to have layers as to how you define your business and to provide you with a compass to get you through the good weather and the storms and to differentiate your business from your competitors.
As mentioned Defining Your Business is the second step in the 9 step start-up system I’ve developed. It’s part of a bigger picture. If you’d like to know about all 9 steps, you can access my FREE Checklist that is available for download right here.
As part of the process of defining your business, I think it is a really good idea to ask yourself what your “Why” is? Simon Sinek popularized the notion of Why on his famous Ted Talk available here http://bit.ly/2feapsK
I strongly suggest you visit his website and undertake his Why exercise https://www.startwithwhy.com.
The essence of why is the idea of The Golden Circle.
The Golden Circle is Comprised of Why, How, What?
1 Why – This is the core belief of the business. It’s why the business exists.
2 How – This is how the business fulfills that core belief.
3 What – This is what the company does to fulfill that core belief.
This sounds simple, but what Sinek found is that most companies do their marketing backwards.
They start with their “what” and then move to “how” they do it. Most of these companies neglect to even mention “why” they do what they do.
More alarmingly, many of them don’t even know why they do what they do!
Here is Simon’s example comparing the PC (personal computer) world to the Apple world.
”We make great computers. They’re user friendly, beautifully designed, and easy to use. Want to buy one?”
Apple says …
“With everything we do, we aim to challenge the status quo.
We aim to think differently.
Our products are user friendly, beautifully designed, and easy to use.
We just happen to make great computers.
Want to buy one?”
You can appreciate the power of Why!
Defining your business is the second step in my 9 step start up system. This 9 step system is essentially a stripped down business plan giving your lean new business start-up the tools that you need to start up fast, save time and money in the process and have the utmost clarity and confidence moving forward.
Here is the link to a FREE Checklist from The Launch Pad Checklist which includes the 9 Step System to Start-Up Success. Click here to download your free copy now.
I am here to help you out if you are a new business start-up or just seeking help on having the right plan in place for your business. The help you further and provide more support I’ve created The Launch Pad Private Facebook Community ( Click here for the link), where myself and our start up tribe are there to help you out with your problems and challenges.