Ep 74: 5 Reasons your business foundation is crucial to the success of your business

how to start a business new business starting a business Mar 18, 2021
 

In today's episode, I share 5 reasons why you need to have a solid foundation for your new business. So many people start their businesses willy-nilly and don't think through all the crucial foundations that can make or break your business. 

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Have you ever gambled? If so, did you rely on a lot of hope and luck? Like most of us, you probably did too. Yes, there are little things you can do to try to improve your chances of winning and coming out ahead, but normally it's a losing game.  The whole reason it's a losing game is because you don't have much control over the results.

But with your business, you can't rely on luck or hope.

HOPE is not a plan for your business.

It is not your business plan.

Your plan is to strategically work through all the foundational pieces so you can give your business the best change of being successful and reaching your money goals.

With that, here's 5 reasons why creating a solid business foundation is imperative:

1. Your business is a responsibility. Just like being a parent, a pet-parent, aunt, uncle, anything - it comes with responsibility. You take those things seriously, right? Same goes for your business. It is YOUR responsibility.

2. It determines every decision you'll make from here on out. Enough said on this one.

3. It helps you create products that are desirable to those you seek to serve. If you don't truly understand who you are best suited to serve and how you are best suited to servce them, then how can you create the best products to help them? You will be creating or offering products & services that will make a difference.

4. It gives you the confidence you need to effectively share your business with the world. If you don't confident, you won't come of authentically confident and then people won't be confident in buying from you. 

5. It will prevent from wasting time going in the wrong direction - or spending money on things that you don't need. Many business owners just get going willy nilly then realize later they didn't have a strong foundation for their branding and wording and products/services and end up having to backtrack, pivot or start over. Don't let this happen to you.

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