I meet people on a regular basis who have incredible ideas that they think could become multimillion dollar businesses. In many cases they are right. However, even in those cases where their ideas could indeed create strong and secure businesses, either their amazing idea dies on the vine, unpicked and wasted or they try to pick the grapes at the wrong time and/or they handle them badly and they are spoiled after being picked.
For a business to start right and grow steadily every potential entrepreneur needs to understand the three key pieces to the business success puzzle:
- Every potential entrepreneur must discover what they want to do, the price they are willing to pay, and how starting a business will effect the whole of their lives. This time of discovery usually takes longer than the entrepreneur wants to take, but that is why most entrepreneurs fail in the early years of their start-up.
- Every potential entrepreneur must take the time to design a solid foundation so that your business will meet both your financial and life goals. I think that it is sad to see really good people who end up building their lives around their businesses rather than building their businesses around their lives.
- Every potential entrepreneurs must deliver their new product or service to a customer base developed through a solid marketing strategy that systematically and consistently creates new business. New business owners think that their zeal for their product or service will create new sales and spend little or no time or resources developing a powerful marketing strategy.
These three keys (discovery, design, and delivery) are absolutely necessary for any business to succeed. If you are in the early stages of a business start-up or have found your young business stuck, consider where you are in relationship to these pieces to the success puzzle.