If there is so much competition out there, and the failure rate is high, why do people continue to start their own business?
- Passion
- Money
- Less work hours
But, it's not a great idea to rush headlong into starting a business without knowing some basic facts, such as:
- Your WHY - if you don't know why the customer won't either.
- Your HOW - sorry to disappointment you but it is very much about having a plan.
- Your WHO - who is your target market? If you say everyone I shall close my ears.
- Your WHEN - please start your business, but know that it won't be successful overnight. IF you are the first one to come up with an IDEA you have a better chance than people who are offering the same old. But it's rare to be the first today. It is possible, anything is possible.
You can sit at the end of a phone and cold call, you can knock on doors, and you can keep busy networking, but if you have not answered the above questions, and you are trying to sell to others too early, you may face disappointment.
Ask yourself this question and put yourself in the place of your would be customer "Why Pick You"?
If we, the consumers have so much more choices today to decide which business to work with, surely we would not engage a complete stranger, with no credibility – that we can see at a glance. Why would be chose a business who is completely brand new, and has no recognizable brand?
In the critical first few months of starting your business ensure you know your own brand before you try to sell to others, because if you are confused they will be too.
You can continue to sell whilst you build your brand if you feel a need, but behind the scenes make sure you do the work to showcase your brand, gain testimonials from the work you may have done for free, and of course build those important relationships of trust when networking.
Your brand is your pot of gold, it exhibits everything from your credibility, your customer service, and your excellent products and services. With no brand to speak of why would a customer pick you?
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