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Knowing what NOT to do in your business is sometimes just as important as knowing what to do. It’s easy to get distracted by shiny objects and to feel like we’re being productive when we’re really just doing busy work.
One of the keys to being successful in your business will be to eliminate all the unnecessary stuff to focus on what you need to do TODAY!
In our years of running several businesses and working with many other business owners, we’ve come to find that there are really only 3 things that every successful business needs. Understanding what these 3 things are will help keep you on track and avoid all the noise around you. And help you find great success in your business ventures.
Let's quickly go over each one of these 3 items and we'll go into more detail in future posts.
1) A Product or service.
Most people think you need some BIG, crazy, change-the-world idea to have a successful business. This couldn't be further from the truth! All you need is something that you believe others would want to buy. That's it! Let's not overcomplicate this! In the next post, we go into more detail about how to come up with your business idea. But just remember it doesn't have to be (and is probably best that it's not) completely revolutionary. In fact, you can probably come up with MANY great business ideas in less than an hour! The hardest part will be to just pick one! :)
2) Sales
Sales and marketing are the lifeblood of your business! In many cases, this is even more important than your product! It's impossible for someone to buy something that they don't know exists. Ideas are a dime a dozen! The thing that separates successful businesses from the rest is they have an effective way of selling their product. Just like business ideas, there are a million ways to market and sell your product but all you need is one repeatable system. We'll go over this in future posts as well. In fact, we'll be discussing this topic quite a bit. Get this right and it's game over for any business you want!
3) Fulfillment
We'll get into this overtime BUT let's be sure to not put the cart before the horse. Often people want to have everything about their product or service perfect before selling it but you only have so much time and energy and in most cases, this is something that you can figure out and dial in overtime. I'm not saying to not think about it at all. But in many cases, you can even sell something before you've even created it. Now, this won't be the case with everything.
If you're opening a restaurant where people walk in expecting a good meal you can't wait to go to the store until after they ordered. But if you're doing catering then you can totally do this! Most of the products or services we've sold, we sold first before we created them and definitely before we dialed in our customer service process. The point we're trying to make here is to have an idea of how things will go but start with step one and adapt as you go!
That's it! This is really all a successful business boils down to!
You don't need a big fancy office with nice furniture. You don't need an amazing custom website or fancy business cards. You don't need a 43-page business plan, core values, mission statement, or any of that!
If I were to describe in one sentence what a business REALLY is, it would be this...
Selling a product or service and delivering on what you sold.
That's it! That's all a business REALLY is!
The truth is that there are a million ways to make a million dollars. In fact, that's a huge understatement. There are an infinite amount of ways to make millions of dollars BUT all you need is one!
Once again NOT saying this is easy at all! BUT like mentioned before it's not any harder than the alternative, so if you're going to put in the work each day why not build something for you..?
In the beginning, your business plan could literally be written on a napkin that includes...What are you selling..? How are you going to sell it..? Then all you have to do is do it! Remember KISS - Keep It Simple Sweetie! ;-)
We've put together a Free Business Training Course to help you on your business journey! In just one hour you'll know more about starting a successful business than most MBAs. Click here to get started NOW!
Just remember... the only 3 things you need.
1) A product or service
2) A system to sell that product or service
3) Deliver on the promise you made to your customer when selling your product or service.
In the next article, we'll help you come up with your BIG idea. Ok, it doesn't have to be big…BUT it will be big to you and your customers.
We'll see you then!
- Your Millionaire Mentors, Justin and Tara Williams