2 Key Ingredients for a Successful Business
I remembered taking Project management classes. The teacher said: ” Being book smart is not everything, you need to be street Smart also. Looking back at his statement, I can say that this dude was right. There were times I tried to skip some steps in business. For instance not doing a research. I thought it wasn’t necessary. This led to my failure in the business I started. I thought I knew it all. There were other times I felt very smart with my books. So I didn’t do anything. You know what that leads to. No action, no success. Evaluating myself and my past businesses I saw the main reasons why I failed. I also saw what some of my friends did to become successful. And there are two main ingredients needed to be successful in business.
What are these ingredients?
- The first is having a product/service. What can you offer people with that will make their life easier? It can be products or services that are tangible or intangible. For those in the blogging business, content creation is essential for your success. Oh yes there are many other essential factors too, but this is a main ingredient. There are important questions you should ask. Is your product adding value to peoples life? Are you solving a problem? Is there a need for your service in the market place?How viable is it? Are people willing to pay for it? And how much?
You don’t want people to come to your site/ shop and not have anything of value to give them. Even if you don’t have a product yet, its important for you to build an audience. Which will lead to the next ingredient that is necessary for your success.
As simple as it seems. This was one of the main reasons I failed at not having enough business. Not investing as much as needed for people to get to know me and my business. Grant Cardone said “People fail because of obscurity”. If people don’t know you, why would they want to do business with you? Make sense right? If someone walks up to you, and try to sell you a brand new Iphone. The same price as in the shop. Will you buy it from them? Or will you go to a local store where your friend is working and buy it there? People do business with who they know, like and trust. My best clients I’ve had and still have are those who know, like and trust me. They know that whenever an appointment is made, I will show up and deliver. Can people trust you? If they can’t, they wont do business with you long enough.
Do you wonder why companies like Coca Cola and Mc Donalds are successful? They invest a lot in marketing. (that’s just one reason). Every minute, every where they have these small advertisement playing around. It might seem insignificant to you, but what they’re doing is getting their brand into your subconscious mind. That’s why you get those craving sometimes. Sometimes for no reason at all, you drive into the “Mc Donalld drive thru”. For no reason, you pick up a case of Coca Cola. Why? Its because these companies have study the mindset of people. They know the importance of people getting to know about their products. Because if people know about them, they will want to do business with them at some point. Summary
There are two main ingredients for a having a successful business. May it be a traditional business or an online business. These are products, services or content creation. Secondly Marketing. Letting people know about you and your business. Remember, people do business with who the know, like and trust. Does anyone know you or your biz? And how many people? If the answer is: “a small amount of people”, then you need to get to work.
I know I need to get to work on my Content Creation and Marketing. What about you?