Build Your Business Everyday
“Build It and They Will Come” . . .
. . . and that friends, is a falsehood! Fantasy! Hollywood!
The reality is: Plan it, tell everyone about it, market it, have support, build it, invite, invite, invite, and work it every day, even if it seems to be working itself. That is what it takes to have a surviving and thriving business and that is a far cry from “Build It and They Will Come.”
Enduring businesses have certain things in common and it starts with having realistic expectations of what it’s going to take to build a successful, profitable business. Set your mind right from the very start. Be ready for long term commitment. Be prepared to work your business day-in and day-out.
Build With The End In Mind
When creating your business plan, remember to carefully consider what you would like your exit plan to be. Are you selling, leaving a business legacy for the children, or lovingly taking down the shingle and walking away? In any case, it’s all good, just be careful to create a plan that supports achieving that end result.
The key to lasting success starts with a business plan and a strategy for working that plan. This includes an outstanding product or service that people want (a must!), marketing, a clear message, client attraction, a solid sales process, customer service, and client retention. Your plan can be in crayon on a wall or a formal plan that passes bank inspection. The critical part is to have one and to work it with persistence and consistency.
It Takes Commitment to Build a Business
As a business owner, you will have to wear a lot of hats and even outsource to experts. There’s marketing, sales, bookkeeping, negotiations, client acquisition, customer service, etc. If you outsource, be ready to “inspect what you expect.” You must still be involved, at some level, in all aspects of your business, even in what you turn over to an expert. Know that building a successful, profitable, sustainable, business will take your energy, your skill, and your time.
If you find that you keep losing pieces and things are slipping through the cracks, invest in a business coach or have an accountability partner. Having support and guidance can help you keep sight of the end goal and not get swamped by the day-to-day. Accountability can keep you on track with the daily action steps that will allow you to make the vision for your business a reality.
You Don’t Have Build It Alone
Understand that your business will not magically get found by your ideal clients. According to the Bureau of Labor Statistics, only about five out of ten businesses make it beyond their fifth year; and of that lucky five, less than half of them will be around after ten years of business.
Quality of your product and service isn’t a guarantee of success. We all know a GREAT restaurant or really cool business that “went under” because they didn’t attract enough clients. Launching the business is just step one, effectively marketing and growing the business is the secret sauce that needs to be made every. single. day. After all, do you want a field of (unreached) dreams or do you want a field of cash?
The fail rate for small businesses may seem like gloom and doom odds, but the rainbow news is that we are here to help. We, at Keystone Mastermind Alliance, want you to beat those odds, to be a part of the 20 to 30% of businesses that make it to year 10! That is why we offer a portfolio of resources and coaching which are available to all business owners and entrepreneurs.
Liz & Tracie
Chief Success Officers
Need more insight on building a sustainable business? Get our bestselling book, Suck It Up, Buttercup: 10 Tough-Love Strategies To Get You Off Your Butt and Making Money. It’s available on Amazon in digital and print formats!