13 Mar

Do not start your business without finding these 3 things


Before we go to any details, I want you to take time and ask these three questions from yourselves.

  1. 1
    Do you have certain specific plans or dreams for your life? A certain lifestyle, a certain amount of money, a certain place to live etc? Do you have specific physical and emotional criteria to feel safe and satisfied?
  2. 2
    If your business succeeds at its maximum capacity, does that means that you will be in those exact certain way of living as a result? Does the maximum success of your business bring you to your most daring dreams?
    Or do your preferred or desired dreams look too impossible that even your business works at its maximum success your dreams will not be fulfilled?
  3. 3
    So in that case, what will you do?
    Throw those dreams away because they are too impossible or expensive for a person like YOU who has a business like your business, OR will you look into making your business align with your dreams, so your dreams are never impossible?

If you dream of having not only a financially independent life but also an abundant one with a successful professional life, having a business is one of the best ways to achieve that. But just having a business or just being an entrepreneur is not enough. Did you know, that there are tens of thousands of entrepreneurs who go broke within the first two years? And did you know that there are so many entrepreneurs who spend their whole lifetime unsatisfied? Why is that? And what makes you a good entrepreneur? What makes your business aligned with yourself, with your goals, and your ideal lifestyle?

Most of all, What makes your business a wealth supporting system according to your money goals?

Those are the questions that every entrepreneur needs to ask themselves before they start a business.

A business is not just a system that will help you only to make some money. Your business is You. You are the front face of your business. You are the result and the trademark of your business. Being that said, it is crucial that your business is aligned with your goals and that it speaks yourself. The right business which speaks you will bring you to your maximum capacity and the wrong business may bring you the opposite.

So how do we find the right and authentic business to you?

Before you start taking any actions on starting your business, you need to have the ultimate clarity on your "why, what and how".

Let's find out your "why"

  • Why do you want to start a business?
    What are the real reasons behind you wanting to start a business? This sounds like a simple question but is one of the most important questions you need to have answers for, and your whole business depends on that. You may have different reasons. Is it because you want to create a certain lifestyle, and if so what kind of a lifestyle? Go to details. Do you want to create a legacy and if so, what type of a legacy? Take your time and be very honest to yourself, dig deep and write down all the details. The more specific you are, the better.

  • Do you want to have any business or a specific business?
    Ask yourself very honestly, what exactly is in your heart and soul that you want to do with your business? Just wanting to start a business is not enough. You need to have a burning desire to serve the world in a specific way, and while serving the world getting paid for that, tremendously.
  • How good of a service/help would that do for your clients / to the world? Why do you think that? and do you think you can make good money with it?
    Here you need to rate your service or product. If you rate from 1 to 10, which number would you give your service? 1 is that it makes no sense to you or the clients, and there is no great value, there is no way for you to scale up that product or service one day. 10 is that it is a very quality product or service and that there are so many ways you can upscale it, monetize it, and this certain service is what your heart speaks what you are really an expert at and it is directly aligned with your goal profits. If your number is 7 or higher, you are on the right track. All you have to do is to find ways to increase the volume and make a profit out of it. If that is between 5 to 7 you may need to rethink how you can change your service to a better fix. If it is lower than 5, then you need to rethink why you are starting a business with this product at all.
  • What level of business do you want to run? A low priced /medium-priced/ premium /high end/ or luxury?and why?
    Before you answer this question, you need to think about what is your ideal lifestyle. What sort of personality do you have? And what sort of a goal lifestyle you are creating? And whatever it is, it has to align with your business. If you wish to live a premium lifestyle, working with premium clients, giving premium services one day, you can't start a business with the cheapest prices, low-quality services targeting low-income clients. It doesn't align with you. After some time, you will be tired at it, and your personality and the way you handle your business start to conflict, and that may lead you to failure. And with these low-income prices, it will take ages for you to create your premium empire.
  • What are the resources you already have that you can use, and what are the resources you need to have? and why?
    Before deciding what kind of a niche you should start, or what kind of business, dig deep into yourself and find out the resources you already have, which comes in handy at your business. It could be your skills, your connections with the outside world, or anything that can be useful for your business. This is where most of us skip. We tend to seek the resources from the outside world, and building a business depending on the resources that we need to earn or borrow, completely forgetting what we really are and what resources do we have with us. So, before you decide on choosing your type of business, first take time to discover your own resources.

Once you have answered these questions and have a clear vision of your "Why" for business, you need to work on your "What".

"What" here is, are the products and services you are delivering. There are so many entrepreneurs who start businesses with "some" service or product that they think is the trend in the market and fail to keep up with it and end up wasting a great deal of money.

When choosing your services or products, you need to consider many things. To make the topic narrow, I will here focus more on service-based businesses such as coaching, consulting and mentoring.

Choosing "What" your service, is the core of your business, and should be decided with extreme care. Just looking for a gap in the market and starting a business on that is not the right way, in fact, that is a plan to unsuccess. To find what kind of services or what kind of niche you would like to work in your business is a mere fact about you and your financial, personal and lifestyle goals. So it is crucial, that before you start your business, take time to do a self-evaluation and self-discovery, finding the true needs and passions of yourself.

So what happens if your passion is too common in the market that there are thousands of other entrepreneurs out there with the same niche? It doesn't matter at all. Although there are millions of hairstylists in the world, each has its own way of doing the job and there are clients who stick with each of them, aren't they? And there will be always clients who find your specific ways are better for them than the others. Select your niche according to your financial goals, your lifestyle goals, and your personality goals, and create a unique outcome of it, which serves the client who is playing at the same grounds. That is how you do it.

Think of how you want to be seen and perceived in the world, how you want your business to be seen and perceived from the world, what kind of a lifestyle you want to create for yourself and for your clients, what kind of an image you want to show to the world, and create your own unique outcome of whatever niche you choose.

One thing to remember, whatever niche you select for your services, try to be specific as possible. If you consider all those things that I mentioned before, if you create a unique outcome of a niche that suits for your certain parameters, then you are a winner. Remember, The best practice is to be a big fish in a small pond. You don't have to be an all-rounder for everyone. But you can be an expert for someone. And that someone is willing to pay your specialist prices and willing to buy your service. Don't forget, there are always clients at every price range.

Before choosing your niche, think about what niche/niches are you most passionate about? What is your area of expertise and are you able to upscale its quality to a premium level if you are planning to build a premium business? Even if you don't plan for a premium level business right now, will you be able to scale it up one day with this niche? If yes, that is the way to go.

Think a bit, Why do we do business? To earn money. And money is directly connected with our personality, mindset and our identity. There is a fine yet strong connection between money and identity. Talking about that, before you choose a niche, you need to consider your comfort zones.

Your comfort zones, what are they?

According to the new studies, it has shown that three basic aspects of a person's personality change very little throughout the lifetime. They are anxiety level, friendliness and eagerness for new experiences. These personality traits are core traits that decide our feeling of safety.

One huge mistake that most of us do and face nowadays are feeling pressured trying to push ourselves into the limitless uncomfortable zones. Many of us are being told what is right and what is wrong and most of the times we are using the cookie-cutter approach and trying to be motivated forcefully, to do anything and everything.

This kind of motivation is based on a dictatorship and it is not healthy. When you build a business based on these motivations, this is not going to last long. As an example, if you feel extremely uncomfortable talking to strangers, it doesn't make sense that you push yourself to start a coaching business that involves you doing 1 to 1 coaching, talking to clients. You may tell yourself to step into the uncomfortable zone, but it will not bring long-lasting results. Stepping into uncomfortable zones is indeed a good thing, but it has to be done carefully. Radical changes don't last. Anything you do has to be changed smoothly, yet effectively, and most of the times it is recommended to do with someone to guide you.

So before you decide your niche, think about your core traits. To get wealthy by doing your business, you need to build it right. Before start working on your business, think carefully, does your selected niche cover your safety zones? Will you be able to actively continue and go along in this niche with a growing success?

One way to deal with this situation is outsourcing. If you are into high anxiety levels, you may want to build systems that keep your business at very good sustainability levels and predictability. If you are very good being social and if that is one of your core traits, you may want to organize more public appearances in your business strategy.

Now let's see you "How". That means how do you want your business to appear in the market.

To build a business which helps you to create that freedom of life, to create that wealth you are planning, you need to create a system that can bring you a sustainable income.

If you are someone who wishes to design a premium lifestyle and to upscale your current lifestyle and business, creating a business which targets low-income markets is not ideal. It doesn't align with your ideal lifestyle, and it doesn't speak to you.

Remember, you are the face of your business. It is not just the advertising and the services that decide if clients attract to your business or not. It is you they are look up to. You should be the living result of your services, and your clients subconsciously want to be like you, and that is why they are hiring you or your services.

So having a double life (In this case a double life and business) will not help.

Decide what kind of a story you want to tell the world. What kind of an image do you want your business to represent? What kind of clients do you want to attract?

If you are planning to launch a premium service, you want to attract premium clients who are willing to pay the premium prices. This is where you need to decide how your services talk to them. Do your services speak the exact language as those premium clients? Is your service anything that they need to have in their lifestyle?

Talking about that, Your services are not the only thing you need to consider. Your branding is another very important facet of your business. Your brand helps clients know that their desires or needs will be met by your business and they will be attracted to your business and they want to know more about it.

Branding is creating your client's perception with intention. Your branding is how they experience you. You need to do this with great care, as you are here creating and shaping how you are seen and perceived in the market. And this decides which type of clients you are attracting.

If you are planning for a premium business, then your brand, colours, fonts, logo, tagline and the whole look and quality should be aligned with that. Basically, your money goals should be aligned with your business from the start and it should represent in every area of your business.

Write down your business story. Think of how you want your business to speak in the market. Think of how you want your business to be perceived by the world, to be seen by the clients and to be recognized by the world. And then decide all the details. Every small detail has to be done purposefully and carefully. This is something many of the beginner entrepreneurs ignore, as most of them are in a hurry to launch a business and to start earning money. But without the right foundation, your business is not going to stand out. Remember, you are unique, and so your business should be.

That leaves us to this question. Why all these are important to earn your target money goals? Is working just on money mindset beside the business not enough to create wealth?

Money mindset is a very common topic these days, and especially when it comes to entrepreneurs there are so many money mindset resources you can find all over the internet. While it can be useful up to some extent, most of them fail to bring the long-lasting results. There are so many entrepreneurs who spend time doing money affirmations, personal growth, money mindset work just to find themselves back at the square one after some time. What happens here is, when you are trying to clear your money barriers and to increase your money grow, you have to work on different elements parallelly, not only on the mindset. While mindset is a very important and a must to do element, it always goes together with the other elements. And your business is one of them. It doesn't matter how much of mindset work you do, how much of planning you do if your business doesn't represent your ideal life and your goals, the chances that you meet success is very low.

The cookie-cutter approach is not the best way here.

The best practice is to focus on the different elements of your life and business and make sure that all are aligned towards one goal. If your goal is to create a premium life with the highest financial freedom, your business should be playing a premium role in the market, targeting premium clients so that you don't have to try to sell every person under the stars to make a profit. You can be an expert in your specific niche, and give high-quality services to your ideal clients, and to get paid accordingly. Remember, be a big fish in a small pond.

Starting a business is one of the best ways to achieve your money goals while contributing to the world. And it doesn't have to be hard and scary. Once you have the right knowledge and vision about what your unique business should be like, you are on the right track. While there are millions of entrepreneurs out there, you can still stand out with your service, because you are the only person that exists who has all your unique ideas, designs, identity and personality. And for that, there will be clients who are willing to pay you.

The world is growing each day, and we as entrepreneurs play a huge part in it. And don't forget, one of the noblest things you can do in this world is to create wealth. When each of us creates their best, the world grows in its highest capacity. Be that entrepreneur who increases the value of others lives, the value of the world and the value of the economy. Be the kind of human the world needs.

Want to create a wealthy identity, a Millionaire mindset, a premium business that is aligned with your goals and dreams, and to find marketing based on your core traits to create success?

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