3 Steps for a Successful Business
More than 5,000,000 new businesses are started each year…but 70% of them will fail. You shouldn't be one of them. Whether you want to start a business, shift your current business or take your business to the next level, there are 3 things you need to make it a success.
It all starts with an idea. What kind of business do you want? What are you good at? What do people ask you for? Here are a few ways to get inspiration.
- Create a solution for something that you find really annoying or painful in your life.
- Create a better solution for something that you do every day
- Look at the trending topics on Social Media
- Think of industries and types of businesses that would allow you to do more of what you like.
- Make a list of things you love to do and would do for free. Think about how you could turn these things into a business.
- Think of businesses and industries that you would have an unfair advantage in.
Once you have an idea, you need a plan. An effective business strategy serves as a blueprint for the different aspects of running your business. Business strategy is the steps a company takes to reach its goals. It involves understanding what the business does, what it needs to have, and what it needs to do to reach those goals.
In the same way that following a great recipe makes a great meal, having a great strategic plan provides you with a clear path to accomplishing those goals. Without having a clear destination, none of the operational things you do is going to make a difference. A strategic plan will give you clarity to where you want to go, so you won’t end up going nowhere. On any given day, you have many different things to do. But which one do you need to focus on? A strategic plan will help you prioritize, making sure you are doing the right things at the right time.
This is Fay. She is the Strategist. She takes your idea and makes it a reality.
Production is the implementation of the strategy. It’s the process of turning plans into action to reach a desired outcome. Essentially, it’s the art of getting stuff done. Without an efficient implementation process, even the best-laid plans may not come to fruition. Implementing your plan is as important, or even more important, than your strategy.
According to Wikipedia, “Production is the process of combining various material inputs and immaterial inputs (plans, know-how) in order to make something for consumption (output).”
Your idea, your knowledge and plan in the input and your output is the action to make all aspects of your business ready for customers to buy. What steps do you need to take to make the strategy happen? What tools or systems do you need? Make a list. Once you know the items that need to be completed to implement your strategy, it’s time to break them down into tasks with due dates. Basically, what needs to be done, by who and by when? Some tasks will naturally take more time than others, so do your best to set realistic estimates. This will help you stay on track.
This is Stacy. She is a Producer. She takes your strategy and puts it into action.
This is how businesses create success. You take an idea, create a strategy and put it into production.
With a combination of a Strategist and a Producer, Fay and Stacy created a complete step by step roadmap to achieving Global Impact. We want to give you the VIP treatment by going backstage. For a limited time get instant access to The Global Impact Accelerator. You'll get immediate access to 8 Modules of the program coaches, consultants, and entrepreneurs are raving about!
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