We live in the era of Instagram entrepreneurs and constant chatter about startup capital. More people than ever are dreaming of becoming an entrepreneur. Unfortunately, most of them get stuck because they don’t know how to do it. And, those who share business startup tips tend to focus on the complicated and technical aspects of starting a business and writing a business plan, rather than the practical steps it takes to even get to that point.
We say F the business plan (F=forget, of course).
If want to be self-employed or you have the next world-changing idea and you’re not sure how to get started, read on.
We have created a dozen businesses, most of them in just 6 weeks. We share this only to tell you that you do not have to be another would-be-entrepreneur who never launches.
How to Quantum Leap Your Business in 6 Weeks
Step 1) CREATION: Make Your Idea Concrete
Idea, brainstorm, research, act. We call this ultra-simple process The Wheel of Creation.
- Have a business idea.
- Brainstorm questions that you need to answer in order implement this business idea.
- Research on Google for the answers. You may be looking for information, instructions resources, or people.
- Act on what you found through research. This step is the most important!
Failure to act is the #1 reason most businesses get stuck in the idea phase.
By taking action, you’ll find yourself with new ideas, leading you back to Step 1.
Step 2) CONNECTION: Identify Your Target Market
Understanding your target market is the key to effective marketing.
Brainstorm:
- What is your main expertise, topic, or focus within your industry?
- What are the characteristics of your ideal customer?
Research:
- Compare yourself to similar companies in your niche
- Learn more about your ideal customers (their wants, needs, problems, passions, and interests)
Step 3) COMMUNICATION: Master Your Message
Marketing is about communicating the right message to the right audience in the right language.
Brainstorm:
- What outcomes or benefits will customers receive?
- What problems does your product solve?
- What words would your ideal customer use to describe these outcomes and problems?
Research:
Explore forums, social media groups, and product reviews with the goal of reading what language your customers use to discuss their problems or similar products. Use those words in your marketing copy. You can also use Google Keyword Planner to do additional keyword research.
Step 4) CAPITALIZATION (aka Ca-Ching)
Let’s focus on two important areas most people overlook.
- Setting the right price
- Diversifying your revenue streams
Price: Skip right to the research step and investigate your competitors using the same process real estate agents use to determine the market value of a home.
- What are similar businesses charging?
- Who charges more or less and why?
- Where do you fit within the spectrum of pricing?
Diversification: After your product solves a problem for your customers, what other problem do they still have? What solution could you offer them to solve this problem? You now have another business idea to start noodling with. You’re welcome!
Step 5) COMMITMENT: Plan for Success
Achieving any goal requires knowing 3 things:
- Desire: What do you really want?
- Drive: Why do you want it?
- Do: What do you need to do?
Having a clear goal and a big enough reason (1 & 2) are absolute musts! But they won’t get you far without planning.
A great idea without an actionable plan will remain just a great idea.
You’ll need a long-term plan, but what we’ll focus on here is weekly planning because it where planning meets action.
We lovingly refer to our weekly plan as a “Ta-Da List” rather than a “To-Do List”. It’s not a nagging list of obligations it’s a fun way to celebrate accomplishments— ✓ “ta-da!”
- Schedule a weekly planning session
- Identify actionable tasks for the week
- Prioritize tasks
Step 6) CULTIVATION: Stay Motivated
Even the best plan can be derailed by:
- Lack of motivation
- Frustration
- Overwhelm
Motivation cannot be left to chance; it has to be cultivated. Having a clear “why” and being committed to a plan trumps motivation. Refer to Step 5.
Frustration due to roadblocks and setbacks can zap you of motivation. They’re inevitable, which is why the solution is to prepare for them in advance. Brainstorm what could go wrong, including both internal and external obstacles, and how you would deal with them.
Overwhelm is due to taking on too much or not being focused (again see Step 5) and it leads people to use avoidance mechanisms to distract themselves from doing what needs to be done. Examples include: binge watching Netflix, aimlessly scrolling social media, or compulsively checking email. Identify your time-wasters and create a “not-to-do” list. Post it somewhere visible.
Joeel & Nataile are co-founders of Transformation Academy, where they train leading-edge entrepreneurs, leaders and life coaches how to master their mindset and create a purpose-driven business so they can monetize their passion and live life on their terms.
Joeel & Natalie have started more than a dozen businesses, including (in chronological order) imports, photography, non-profit teen center, life coaching, t-shirts, magazine, book publishing, professional speaking, conferences and workshops, holistic virtual office center, online directory, life coach training, and an online academy. Joeel is a former psychology professor with a Master’s Degree in Counseling and Education is currently completing his dissertation on eudaemonic happiness for his Ph.D. in Psychology.
Business stock image by Dean Drobot/Shutterstock
