A real way to create a thriving business in this fast-paced world
Have you read the book ‘Think and Grow Rich’ by Napoleon Hill? It is a wonderful book that was written many years ago by a man who was given access to the world of very successful men. In the book, he insists there is a secret and anyone who finds the secret will be successful. The book talks about different paths and patterns to the wealthy life taken by several people, many of whom the author knew. So, then what is the secret of the book?
I think I know the secret. It is something that most successful people have. Those who don’t have it always have a problem sustaining their wealth if they got it through alternative means. I believe the big secret is courage. It’s the audacity, the nerve, the guts to make a move other people define as foolish just to get to your aim. The big secret for me is crazy, absolute boldness. If you have it, you can talk to anybody and you can get anywhere.
Now, let’s talks about how to start a real business. From a previous post of mine, I explained the difference between a project and a business (which is very important to note). There are those who start a project and then scale it into a business. However, there is a way to start a business without going through the route of a project. The method is by following this big secret in Think and Grow Rich. Here are the steps:
1. Define those you want to be selling to
The first step in creating a real business from scratch is knowing who you want to be selling to. Identify the people you want to be dealing with. And if you want to be wealthy, it’s better you plan to sell to the wealthy. Selling to the poor (or the frequently broke) is very challenging. Having the view to sell to the general public is being out of focus.
2. Go to where they are
The next step is to become active in the environment of those you want to be selling to. Find out where those you want to be dealing with are and go there. They will not come to meet you where you are. You have to show up in their world. It might entail joining a club, picking up a membership somewhere, etc. Just get yourself mixed up in the environment where people you want to be dealing with are.
3. Find out what they want and would gladly pay for
The next step is to understand them; their pain, their preferences, their desires, and their wants. The only way to get this done is by having a conversation with them. Start out by listening. Since you don’t have any product or service, you’re selling at this stage, don’t try to sell anything. Let them talk and listen to the problems they have. When you detect a pattern of problems most of them have, find out if they are willing and ready to pay for a solution. And also how much are they willing to pay for a solution. When you know this, you can get to work on the next step. You must let it be clear to them that you are interested in solving the problem for them to lock them in as potential customers.
4. Do the due diligence about the solution you want to provide for them
This is the part where real work begins. You do your research about the solution you want to bring to this group of people. Go to every length possible to investigate every aspect of the solution and then package it all in one piece. Then you move on to the next step
5. Breakdown what the solution would cost the people and ask if they are still interested
When you return with the feedback to the group, they are mostly going to love the fact that they now have a solution. If they insist the cost is too much (which is not often the case), you can leave that and go back to step 3. If they embrace it and say yes to the solution (considering the cost), then you now have a business. Plus, these people will help you push your business to the next level by telling others like them who have the same problem that a friend of theirs now offers a solution. Also, remember to factor in your profit margin and if possible have premium service (with a larger profit margin).
6. You have the customers, you have the solution; Start the business!
At this stage, you have a business. This is because you have a solution and you have people who are ready to pay for it. What you have to do next is not to mess things up. Deliver quality and deliver on time. Don’t forget to register the business and follow all the required legal framework for the business.