Do What All The Millennials Do: Make Your Business A Success

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It seems we can’t go anywhere these days without hearing about some form of success story when it comes to business. Millennials creating smartphone applications that take over the world, becoming digital pioneers in a fast-paced and ever changing business environment, ad literally thriving not just driving under the overwhelming pressure. It certainly seems to be the inspiration for many others to follow suit as more business are being started up each day and with the promise of the a new year in full flow, now is often one of the most popular times to do it. But how do you ensure that your idea becomes a success? I wanted to share with you some of the things to consider to ensure that your business gets off the ground.

Having the right support in place

One thing you have got to consider when going into business or starting up on your own is having the right level of support around you. You may be an expert in your field and industry, know the service you provide inside out or the product you have created like the back of your hand, but you can’t always be the expert in every aspect of running a business. A good entrepreneur knows when they need extra guidance or support. That might mean computer network support where you have a company take care of things like cloud storage or handle your systems if things don’t go to plan. It might mean outsourcing to a digital agency who can come up with striking social media strategies or help your website be seen amongst the sea of other competitors out there. Choosing your support network is vital, as there will be areas that you can control yourself.

Knowing exactly what you want to do and how you want to achieve it

It is also important for you to know exactly what you want to do with your business model and how you plan on achieving it. This is how you can then strategize your business moves to ensure that you get your business to where it needs to be. This is the time to work out a business plan, know exactly how you plan on financing each move and then being open to ideas and change because business can be a very fast-paced environment and it’s important to ensure that you can also be flexible.

Embracing digital services

It’s now more important than ever that any new business embraces the world of digital. More is heading online these days and with consumer behaviors changing, it’s important that a business honors that and makes changes or at least gives customers the option. A decent website, being present on social media and ensuring that you have a decent marketing campaign could be the key to success.

A lot has to do with work ethic and attitude

Finally, while a lot has to do with how you make your business work you can’t forget that the only way it is going to happen is through hard work and dedication. Your attitude to your business and to life itself needs to be proactive and positive. Hard work will get you places.

The Pie Strategy

When I look at a pie, I imagine cutting it into pieces and devouring it slice by slice…

A whole pie is actually a great illustration for looking at your business. Let me explain.

cherry pie, apple pie, dessert, pie ala mode, piece of the pie

Ever since I started my coaching business, I thought coaching was what I was offering. It was, and still is, but it’s just a piece of the pie – not the entire pie itself.

If I rely on coaching as my only source of income, I’m dead. Even the busiest coaches don’t dream of coaching people all day. They may make a lot of money, but it’s tiring and dependent on your time as the coach being involved.

The “pie strategy” has changed the way I think of my business

Instead of putting “all my eggs in one basket,” I’ve decided that coaching is one of many things I offer.

I also do training, recruiting, events and I’m working on online marketing and online courses.

By following different lifestyle entrepreneurs, the key insight that hit me was: time ≠ money.

That means you shouldn’t be dependent on making money solely when you’re involved with it.

I offer a service (coaching), but people don’t really want to work with me. What they really want is the knowledge I can impart so they can apply it to their own lives/business.

That being said, online courses make a lot of sense. People can purchase them when they want. It’s cheaper than coaching. I can create them on my own time and I don’t have to be a part of it once it’s live. An in-person event may be overall more engaging, but with the convenience of watching it in your own home, it’s a value that’s hard to beat.

So think about ways to “take yourself out of your business.” Almost like putting it on auto-pilot.

Each new stream of income is like another piece to the pie. Mmm…that tastes good.