Choosing the route best for you
Starting your own business sometimes might feel like you’re looking at a road map and not knowing which direction to take. So many different options appear to get to the same location.
The question is do you take the scenic route or the highway?
In the longer term, taking the highway in a business sense can save you a lot of time and money.
Succesful entrepreneurs we’ve worked with ask these three questions on a daily basis and consistently ensures they take the right turn:
- Why you?
- What does success mean?
- Who is your ideal customer?
Three little questions:
Those three little questions seemed so simple. But what do they really mean and how to they keep you on track?
1. Why you?
I mean really. Why you?
Consider that so many businesses start with a brilliant idea – but still, many fail within their first 12 months. Even though they have a brilliant idea.
Successful entrepreneurs are clear on:
- Why is your business idea better than any other Jimmy Choo on the street?
- What makes your business idea unique?
- Why is your business idea a solution to a migraine problem?
What is a migraine problem?
It’s a problem that your ideal customer has paid money for in the past to try resolve. Something that costs them a lot of time wasting or something that causes them a lot of worry.
Your business needs to be the solution to that problem and you can’t assume here. People are crazy (Einstein said so). We do things that aren’t always rational and logical. You need to ask your ideal customers to find out about their migraine problem (because it might not be what you expect).
For example, think of a bicycle owner. They’ve just spent a gazillion dollars on a new road bike. But they don’t want to let it out of their sight because they don’t want it damaged or lost.
But how do they go to the cafe with their friends without stressing about their bike being stolen?
Perhaps they need a lock that no thief can get through or perhaps they have the lock but the parts (eg wheels) are easy to snitch. Maybe they’d like light weight componentry that lock their bicycle wheels to their frame and need a special key that only registered component owners can buy (yes, all these things exist!).
The idea of this example is to give you ideas on how you in your busienss can answer these questions.
They help you to build your business clarity, and clarity helps give you direction.
2. What does success mean?
Success means something different to everybody and your idea of what success is will determine where you want to take your business.
Being clear on what you believe success means will help you determine where you want to take your business.
Perhaps you want:
- Location freedom
- A 6 figure income
- Spend more time with family and friends
Whatever your definition of success if – make sure you write it down. This will become your daily reminder.
Put it on your desk / somewhere you see every day. Without it you may be tempted from time to time to take on work that is influenced by keeping up with the Jones.
When you see your definition of success, ask yourself:
- How am I tracking towards this goal on a scale of 1-5 (5 being hitting it)?
- What can I do today that will take me closer to achieving that goal?
Remember to be honest with yourself and aim with intention. Use measurable data where possible (so you can’t accidentally lie to yourself). Maybe it is by reviewing a daily sales report or your website traffice.
By reminding yourself on a daily basis you are sure to stay on the right track towards reaching your success.
3. Who is your ideal customer?
An ideal customer is somebody who:
- You sell your product or service to
- Fits the demographic you are targeting (i.e. age, gender, income)
- Fit the physchographic you are targeting (i.e. worldview, lifestyle, hobbies, interests)
Some people call this your niche market.
Having a niche or specialisation is important because it lets you be great at what you are passionate about. It also, helps you serve those customers that value those passions as much as you do.
It also helps you identify potential customers who don’t fit that niche.
The more you know your ideal customer and can delve into their shoes, the easier it will be for you to write your website content, your marketing and branding concepts.
Because it will be just like writing a letter to a friend. It will be personal and they will love you for it.
Staying on the road to success is easier if you know where you want to go
By asking these three little questions each day, staying on track and being successful is a much easier task. It will give you clarity and purpose.
Remember if this post helped you, we’d love for you to share it with a friend or colleague.