There are some things you need to know before starting a business. And these things might strike you as basic, but you would be really surprised by how many people call me to brief me on designing their branding, and they don't know these things about themselves or their business venture. So, here we go, what you should know:
Number 1: Why am I starting a business? This is going to keep you going when the going gets tough. Most businesses fail within the first two years of starting and mainly for financial reasons. You need to know why you are getting up in the morning to run your business even when their isn't money in the bank. Money can not be the only reason you want to build a business.
What are the values around your specific reason to start a business? Is it flexibility, independence, creating delightful experiences? If you can get to the core of why you are starting a business and write it down (make it plain and easy to explain), you are on to a winning start. Because knowing the why will help you to stay your course. And from it you can build your core values and tell your story, which will lay the foundation for building your business. When the why comes out you want it to be honest and genuine, an audience can connect with authenticity. We've all met those people just out to make money and it's really unattractive. Far more important to think about the life you want to carve out, the person you are becoming and the value you are adding to others.
Ultimately the reason I hope you are starting your business is because you want to add value to others, you want to help them in some way, you are making life better, easier, healthier etcetra.
Why you are starting a business is an integral part to your business and one of the first questions I ask. This helps me to understand you, to visualise your hopes and dreams. As I mentioned earlier this year, I help energetic visionaries change the world. These people aren't just about making money or making money fast. They are in it for the long haul they genuinely want to make a difference in peoples lives. And their businesses will do well, long after the two year mark because they have a conviction and a belief that things can be better and they have a part to play in it.
And for those who really don't know the why - the deep conviction why – I help them to discover what it is. Because at the end of the day, after you are fed and watered and you have a roof over your head, all of us want to be significant – and the only way to be significant is to help others – to add value to them.
This is a three part series, stay tuned for parts two and three.