“Consider the postage stamp: its usefulness consists in the ability to stick to one thing until it gets there.” – Josh Billings
What are you going to be when you grow up? It’s a cute question to ask a 5 year old. Sadly with the endless array of choices, it’s easy to get trapped into asking this throughout your entire life. There are all these different pulls and pushes that tempt us to stray from our path. But being a jack-of-all-trades can be detrimental to your success; it’s about choosing one thing and getting really good at it!
But how do you know what is worth sticking to?
Ultimately you don’t. It’s a decision you make.
Many of the worlds greatest achievements and success stories resulted from stepping into something radical but then many failures are too. Business plans and market research will give you some clues and it’s worth spending a few (many???) months doing these before you decide. But there are no guarantees and ultimately it’s just your choice to commit.
Once you commit there is nothing else but to persist, till success or bankruptcy do you find.
If you want to find out if you have the tenacity/persistence/endurance to stick to your path we invite you to complete a Sales Inventory Profile.
Most business owners falsely assume that investment potential is based on having an innovative product or service. However, we have all seen the craziest business opportunities get funding on Shark Tank solely because of the leader in the business.
#1. Create massive external clarity.
Everyone who comes in contact with your business must get with absolute clarity what your business does and who they do it for.
#2 Massive external credibility.
This simplest way to do this is to become published in a trade journal, newspaper, or a popular blog. Many entrepreneurs find the ultimate credibility is to become a published author.
#3 Corporate design.
If you’re looking for equity investors to inject your business with tonnes of working capital, then you must design your business to be attractive to investors from day 1. Operations manual so someone can step in and conduct the business to some extent without explanations from the owner. At least four distinctive products or product lines. Have four to twelve staff in addition to the owners, in this ratio 2:1:1 Sales: Marketing/Promotions: Technical Support/Delivery.
#4 Become visible in your community.
If the investor approaches you, you’ll have a 90% chance of getting the exact deal you want. You must increase your visibility so that investors know where you are. Participate broadly in both the business and local community to increase your peer network. This generates the word of mouth reputation that can lead to effective introductions.
The new big business won’t be big at all. It will be the collaboration of several small businesses or people banning together to reach a level of influence that it will generate the big company’s profits.