Starting your own business often comes with lots of fear and emotion since you are walking into the unknown. The unpredictable nature of the environment and perhaps the overwhelming odds brought about by the ever-challenging business environment can stress an entrepreneur’s mind.
The fear of whether the customers will accept your products or your sales tactics will align with your customers is always real. However, fear is reasonable. It shows us what is important to us. It is, therefore, up to us to find the strategies to succeed and go for it anyway. But did you know that 90% of businesses fail within the first two years of initiating? So, to be part of the 10% that succeed, read this article to the end.
Kareen Zahr Walsh, a distinguished business coach and advisor, helps startups grow. Leveraging her top-notch strategies for business growth, she helps c-suite leaders and entrepreneurs get out of their way and scale.
The following are some of the things you have been missing out on.
You need to know exactly where you are headed. If you don’t have clarity on your ultimate vision for your business, who it is for, and why you are willing to stay up nights to make it happen, then you won’t make it through the challenging days.
Clarity on your vision is always the first step when initiating your new business. Entrepreneurs should be unequivocally clear on whatever they desire, the impact of their achievements, and, generally, the nature of business in mind.
- Assessment of the Situation
In creating a business, one should carefully assess the current situation and the gaps in obtaining that vision.
Assessing helps identify what to do next, whom you need to bring in, and how to lead them efficiently to achieve the next stage of your business growth.
- Build a Strategy for your Most Lovable Product
When you recognize where you want to go from where you are today, the next best step is to build a strategy for easily getting your most lovable product to market. In this case, your product can also be a service you provide. Your most lovable product is the one thing your clients can not live without. The offering gets you excited to build and launch; you know it will land well with your clients.
Kareen encourages her clients to bring in experts who have produced this offering before to learn how to efficiently build and launch the product or service and invest in their services, so they don’t waste time and money learning the lessons they already know. That is the fastest way to build a successful strategy because you will learn where they failed, so you don’t have to. Revampologist Kareen’s company can help develop these strategies if you need this type of support.
- Get Other People to Pay for Your Idea
If others do not invest in your idea out of the gate, you have some refining. There is so much money to be raised out there, and most feel they need to bootstrap before they can gain investors.
Kareen advises her clients to pitch to their ideal clients before building anything to see if they will invest in having the product or service built as a Beta Client before they build it. If your ideal clients don’t buy what you are building, your product or service may not be what they need.
You can turn future clients into your initial investors and prove your concept while getting paid to build it before distributing it at scale. Only a few people leverage this type of investment. It is the fastest way to know if you have a viable product or service and if you are building it for the right audience at a much lower cost to your business than raising full investor rounds and having to answer to a board.
Also, if no one is willing to pre-pay for the service or product you are building, you might only want to start the company fully once you refine the offering. Go back to step 3.
- Do a Monthly Retrospective on Your Progress
Continuously checking in on what you have started and running Kareen’s retrospective exercise to assess how well it is going and make sure you are taking aligned action from what you have learned every 30 days will help you stay on task or pivot if needed. This will help you make sure you are staying on track and avoid any significant hiccups when it comes to building a sustainable business.
In conclusion, Kareen Zahr Walsh offers cutting-edge tips to prospective entrepreneurs seeking to venture into business. Her prowess has been notable in most resounding strategies published widely on business and strategic growth. Many clients have been referred to her services and say she is a game-changer.
Check this out also ?:
- Seamless Subscription Billing: Boosting AOV and CLTV with PlatformPay.io - October 28, 2023
- Rooting for Success: A Closer Look at GreenSprout’s Preferred Credit Cards for 2023 - September 2, 2023
- Inbox Influence: Email Marketing Tactics That Work, by Jurgen Cautreels - September 2, 2023