23 Aug 3 Steps To Build A Strong Business Foundation
Starting your own business is easy.
However, to stick to your goals and vision is quite challenging, especially if you don’t know how to build a strong business foundation.
If we’re just going to talk about how to setup a business online, it’s really simple and you don’t need a huge capital to start.
There are a lot of free and cheap tools to get started with setting up a website and social media accounts.
Paid promotions won’t cost you a lot either. Though, you will surely need to be patient to gather enough data for the decision making process.
To build a strong business foundation requires a path.
A path that you can follow so you will know exactly what to do when things get tough.
3 Steps To Build A Strong Business Foundation
STEP 1: Having The Clarity To The Path You Want To Risk
Risk. Yes, to build a business is a risk but so is living paycheck to paycheck.
When I launched my first business, I failed.
I had the vision, mission and I knew exactly what to do but I still failed.
Impatience makes you quit sooner than planned.
I eventually stopped, then I created another business venture and the cycle went on.
You know you’re not on the right track when you are continuously creating but never finish anything.
It was depressing!
I had to read books over and over; some which are written by famous and successful entrepreneurs to learn from them.
Educating oneself is really, really rewarding.
It’s not enough to have a vision and mission. It’s not enough hitting your goals. You know why?
These are never enough because eventually, you will get tired of doing the same $h!t every day.
This might cause you to feel empty and feel nothing when you lose touch of what really makes you happy.
It’s only a matter of time to realize when your work does not give you happiness anymore and you’ll quit before you even succeed.
Having the clarity to the path you want to risk is very important.
It requires full dedication.
It costs your entire life.
“Follow your passion because when you’re passionate about what you do, you’ll persevere to succeed even when you fail a thousand times before you achieve your dreams.”
STEP 2: Learn Management Techniques And Live With It
Management techniques should be learned because it’s very beneficial to live a balanced life if you want to build your own business.
Ever heard of the 80/20 Rule? What about Prioritization, Time Scheduling, Goal Setting?
There are a lot of management techniques that you can apply.
If your business ventures do not require a team, you can start learning about:
- time management
- project management
- solving complex business problems
- decision making approach
- stress management
- communication skills
Then, expand your management skills to leadership, team management, strategy tools and so on; as your business grows.
STEP 3: Marketing 101 is Essential To Build a Strong Business Foundation
The cause of my past business failures was thinking that “if I could create a good offer, I’d be successful” mentality.
If I’d be persuasive enough, people would buy. I was wrong about that.
Marketing 101 is not just necessary to build a strong business foundation, it’s vital to your success.
When you understand the functions of Marketing, you are in harmony to think creatively and strategically.
There’s no need to second guess when you know what the business is lacking.
Research is the first thing you will do to know exactly if your business has any potential in the market.
You will think how you’re going to thrive within your budget.
You just never run out of ideas to solve any problems when you know which part of the business needs improvement.
Consider exploring management tips and learning the fundamentals of marketing to get a wide perspective on entrepreneurship.
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