Every year thousands of women start-up businesses. By the second year 80% of those businesses do not exist. Five years later 50% of those businesses that were around in the second year exist.
The stats aren’t encouraging.
How can your business be one of the businesses that defy the odds and not only is around after 5 years but also is a means of supporting you financially in a sustainable way as long as you want to be in business?
That’s what I’m going to talk to you about today.
Businesses coming online have been a blessing in many ways. You have the opportunity to reach people and to market your services in innovative ways.
And the online business industry has also come with its disadvantages. One of them being the online space has perpetuated the mindset that business doesn’t take education or skill. The average woman who starts-up a business doesn’t understand what it takes to grow that business and what to focus on to build the foundation of a business that lasts.
Online marketing has presented a lot of hype that keeps the average business owner distracted, spinning from one idea to another, and never really building anything that has the potential to grow and become profitable. Someone might ‘get lucky’ and learn the lingo of the latest marketing fad. That can make them money temporarily, even for a few years. But what happens when the marketing hype fad changes, the economy changes, priorities change for the consumer, or the business woman herself goes through personal, life, or family challenges?
How can you stay on the right side of the statistics and be the business that not only survives but thrives?
- Learn business skills and don’t leave your business success to DIY it or random marketing trends.
- Create a sustainable life that supports a sustainable business.
- Don’t believe the marketing hype! Focus, and build systematically.
Marketers have convinced the general business population that marketing is the key to their success.
Newbies burn through money investing in IG coaches, running Facebook ads, hiring social media managers, and investing in expensive copywriters all in the hope they’ll acquire clients, sell more, and build their brand.
All of these things have made a lot of money for online marketers and left the majority of online business owners in debt, confused, and chasing an endless stream of marketing investments that most of the time do not cash out.
Before you worry about marketing, and throw a lot of money down the drain get clarity first.
So what will work?
Build your business foundation. The foundation is to have an offer ( or product) for a particular person ( ideal client) that gets them a particular result they are desiring. You express their desired outcomes through your message so that they understand you are the product or service provider for them that can help the most.
To establishing a good business foundation, you’ll need what I call the 4 C’s of business.
The 4 C concept: Create, Consider, Contemplate, and Correct
The most important thing someone new in business can do is to take imperfect action. Action creates momentum which is the fuel of a business. Action also creates a foundation. To find an offer that works you’ll likely create several offers. To discover your ideal client you’ll likely work with several avatars, and speak and serve many people. To discover your message you’ll email, post, speak and engage until you find the messaging that resonates with your people. Without taking action you won’t get far. Action is the foundation of clarity.
Consider: Now that you’ve created you want to consider. Measure what you’ve created. How many people are interacting with you around your brand message? Has anyone signed up for your offer? What are the results from what you’ve created? Are you being true to yourself and authentic in the process of creating your business foundation?
Contemplate: Now it’s time to reflect and evaluate. What is working and what isn’t working. Is the ideal client you’ve chosen really ideal? Does your offer get results? Is your messaging really speaking to your ideal client? Is your offer easy to deliver or taking over your life? Is the way you’re reaching your people sustainable? Are there any other skills you are missing that are affecting your results?
Correct: Now that you’ve measured and evaluated you want to adjust. How can you tweak things to improve results? Where are the holes in your bucket? What things can you leave and what things need shifting? Do you have clarity on your offer, Ideal Client, message, and pricing? What steps can you take now to move you forward closer to your goals? What skills are needed and capability do you need to grow for your success?
As you can see, business success is not instant. There’s no shiny object or quick fix that’ll put you on the top despite the marketing hype. It takes time to go through the abbreviated 4C process I’ve described above. And this is why most businesses fail. They’re focused on the wrong things and not investing in figuring out the basics. A foundation is required.
You can be that start-up that lasts. If you choose to be. Give it a go. Dedicate the next three months to gaining clarity on your foundation and going through the 4C process and see where your business is after that.
And if you’d like support in creating your business foundation click here to find out more about our membership and how we support sisters in business.
To your success,