If you started your business at the beginning of the month, you’ve been in business for a week now.
Starting a consulting business or a coaching business is a challenge.
Starting out as a solo-preneur or independent professional is a challenge.
How well did you meet that challenge in your first week as a start-up business?
What did you achieve?
Asking you what you achieved is not the same as asking your what you did. You were probably very busy. There are so many things to do when you’re running your own business.
- You need to set up your website.
- You need to get your business cards ordered.
- You need to sort out your office’s equipment.
- You need to think about setting up a bank account.
- You need to deal with your new tax position.
- …. I could go on.
Important as these tasks are, they are not make-or-break tasks. Of course, they need doing. You need to address them all. You probably need to address them in your first month in business.
Did you spend the whole of your first week in business working on this sort of task?
If you did, you achieved less than you might.
Focus on what really matters
Now you’re in business you must be very clear in your own mind about what’s really important.
For all new businesses what matters most is getting business.
How much of your time in your first week in business did you spend on getting business?
In The Solo Success Start-Up Guide I urge new businesses to find time in their first week to think about the following questions:
- Who do you serve?
- Which problems do you solve?
- What value do you add?
- Who is your ideal customer?
I ask people who are starting out to focus on these questions for one very important reason.
Their business is more likely to survive, if they know the answers to these questions, and if they pay attention to addressing the issues that their answers raise.
Business success or business failure?
There are lots of statistics around about new businesses indicating how few of them survive for three years.
I believe that the businesses that are most likely to fail are the ones that struggle to address a defined market, and solve the problems of a defined group of people.
If you want your business to survive, I believe you need to be clear about
who you serve – so that you don’t waste time, energy and money trying to do business with the wrong people
the problems you solve – so that your customers and prospective customers will know how you will help them
the value you add – so that you have strong messages to deliver online, offline and face-to-face
who your ideal customer is – so you can target your marketing and sales efforts in the right way.
Work on your answers the questions I ask above in your first week and you will stand more chance of success. That’s because:
Clear thinking + the right actions = success.
So what did you do in your first week in business?
Did you spend at least half an hour a day thinking about your answers to my questions?
If you did, you’re ready to start your second week in business.
If you didn’t, take some time early in week two to give them some consideration.
The Four Questions For Your First Week In Business
Just so that you don’t forget, the four questions are:
- Who do you serve?
- Which problems do you solve?
- What value do you add?
- Who is your ideal customer?
Questions for established businesses
Did you think sufficiently about these questions in your first week of trading?
I know I didn’t. Twenty years ago, when I started my business. I wasn’t sure what I was supposed to do. I remember visiting the local tax office. I remember thinking about who I should follow up. (I’d written quite a few letters to prospective clients before I started my business.) I remember working on my offer. I know I didn’t have a structured plan.
I made sure I put in the hours and I completed a range of tasks. I hoped that by doing this would get at least some things right.
Lots of businesses still struggle to decide what to focus on. You can get a head start on other start-ups by asking yourself those four questions now.
It’s Your Turn
So how is the new business going? What happened in the first week? What are you planning for the second week? Let me know in the comments.
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