The fundamentals every business needs
There are a ton of myths around the things that you need to have in place in order to create success in your own business. What I want for you is that you don't go down this rabbit hole that ends up leading you nowhere and so that you can have all the pieces actually figured out.
Trust me, I get it - in the starting phases of building my business, I got this wrong. Boy - I failed. I spent money on things that weren't important and that I didn't really need in my business.
Now that I'm close to hitting 6 figures per month in my business, I can look back and see the things that I didn't actually need and the direction that I should have taken from the get-go.
I created a simple guide to help you understand what those things are in much more detail.
You can download it right here:
What you don't actually need
First of all- here’s what you don’t need to have: everything figured out. Like I said yesterday, the only way to have things figured out is by taking action and actually doing. And even then, hopefully you never have it all figured out because that means you become complacent and stop innovating.
But before we get into talking about the things that you need to have in your business in order for you to succeed let’s talk about the difference between tactics and strategy.
- Tactics are the small things that are going to move you forward in small amounts.
- Strategy are the bigger, long-term goals and creating a plan that will allow you to reach them.
Like for example, increasing your Instagram followers or opening a YouTube channel these are all tactics. Tactics are concrete things that will move you forward in the short term. These are important, but aren’t going to necessarily be the thing that will bring success. Plus - one thing to remember is that tactics will change depending on a variety of factors including the nature of your business, your personality and your audience. So for example, using twitter for marketing yourself wont be a useful tactic for every type of business.
When I work with my clients we focus on building their long-term strategy for their business and brand. And this is where we want to focus on first.
When defining the necessary pieces you need to building your business, it all starts with understanding the general strategy of your business.
the strategies for your business
There are 3 main strategies you need to focus on before you move on to defining the small tactics that build the small term goals.
- The first one is your brand strategy which revolves around clarity in who you are and defining the foundations of your brand.
- The next one is your revenue strategy which is built around creating a powerful offer which will bring you income.
- The third is your marketing strategy which is your plan to generate leads - hopefully consistently.
finding a niche
Most people out there are telling you to start a business by looking for a niche that’s profitable or looking for a business opportunity and going after it. So you do market research, find your target audience and then build an offer around that.
That’s not how I see it - and part of the reason is their building a business is a highly personal experience. As I made it clear in part 1, it takes a ton of focus and mental strength and you facing fears constantly. And when you start a business from filling a gap that’s in the market, it makes it even harder to believe in yourself.
I’m not saying that it’s impossible, but what I am saying is that if you are conforming yourself and changing who you are to fit someone else’s mold those fears will pop up with more ease.
So if you want to start A business with success you want to do things the other way around. And this begins with you building a business and finding a market around who you already are and what you are already great at.
Obviously there are exceptions here- because if your business plan is to sell unemployed people a $100,000 service, it might be hard to find a market.
Make sure you download the guide right here so that you can uncover how to do this:
what problem do you solve?
So you start by understanding what is a problem that you are great at solving. What is something that you love to do, and that you can do with your eyes closed. What do you love doing?
Now - this might be something you have a ton of experience at and all the credentials in the world, ornit might be something which you have only been able to do for yourself. For example, maybe you have found a strategy for Weight loss that goes beyond macros and calories and which has allowed you to lose a ton of weight and keep it off. This is for example what my client Brittany Lake has done and she has built a business teaching intuitive weight loss.
Then you go on to greeting your differentiation strategy. When looking at differentiation, I like to focus on what I call the 6S's of singularity. 6 qualities that when you put them together, there’s no one else in the world they could compare to you - no matter where you are in your journey.
These 6 elements make up who you are. If there’s one thing you need to have and know in your business is this - what makes you different? What is your core message really about?
Looking for pillars and common themes that you stand for is going to be helpful in this sort of the process. Knowing this is what’s going to help you stand out from the rest and at the same time stop you from comparing yourself and staying in inaction.
At the end of the day, all of the different tactics that you are going to apply in your business are all about differentiating yourself, standing out and getting people to believe in your promise aka in the fact that you can solve their problem.
And the way you build this big strategy is by getting clear on why you. We talked about here how you could probably find a million reasons why NOT you - but today we are focusing on why YOU. What is the reason why you are absolutely the best option for this person right in front of you who needs to solve this problem right now.
who are you?
The thing is, no matter what you do, no matter where you are, it’s highly likely that you are in an industry that is saturated. There are a ton of coaches or service providers looking to solve the same problem that you are here to solve.
The easy answer, as cheesy as it might sound, is that no one else is you. No one has this exact mixture of stories, successes, skills, superpower, style and steps the way that you do them. It’s like that movie Slumdog millionaire where all of the little things that happened in his life lead him to answer all the questions that made him a millionaire.
When you connect the dots, when you look at all the things that have brought you here, you understand that you are the best possible option for your clients. When I look back at my life, I have lived all over the world, Brasil, Venezuela, Spain, India the US. Growing up in such a multicultural world before globalism was a thing, made me be insanely great at adapting to different cultures. When I work with my clients I get to connect and understand they “cultures” or businesses really well. I guarantee there’s no one out there that’s going to understand them the way that I do- that’s getting yourself in other cultures and with so many different types of people will do to you.
I actually teach how to figure this out in this training right here. I think you will LOVE IT.
who do you serve?
So look back through your life and connect the dots. Find those things that make you stand out and build your business around you.
Once you have clarity around what this is, that’s when you look at defining your niche or finding your audience. Tomorrow we will talk about what you need to do in order to create your offer, but before you create an actual offer, you have to now understand who you are selling to.
So you are clear on the problem you solve and you know why you are the person to solve it, next I want you to think about who you are solving it for.
In my experience, if you are a coach or a service provider, it’s very likely that you at some point were your ideal client. Meaning that what you are teaching right now is something that you learned to solve the exact same problem for yourself or your business.
So, the best way for you to understand your audience is to gain clarity around who you were When you had that exact same problem. There are a variety of exercises that you can do to make this happens, when I work with my clients, I give them like a 6 page summary that describes who their audience is. Make no mistake, understanding your audience is crucial CRUCIAL to your business. Simply said, Without an audience you have no business.
So you want to write down to the last detail and describe the problem from your clients’ point of view as best as you can.
These are the fundamentals that you need in place in order to establish and create your business. Are any of them missing for you? Make sure you sign up for the free guide and workbook where I will show you how do define all of these things. Sign up for it right here.