Building a business is no different than building a house or other structure. Successful outcomes come from effective results. The first and most critical element is laying a foundation to support the end result. This requires a step by step approach, mastering each level.
Step 1 – Organization.
This step is crucial and takes you from chaos to control. To reach success, you need to fully understand where you are.
Step 2 – Unique Selling Position (USP):
What is it that makes you different? Why should consumers buy from you? By identifying your USP you will obtain steady and predictable cash flow.
Step 3 – System:
Look for efficiencies. Set policies and procedures to maximize your time.
Step 4 – Growth:
Building on the strong foundation and other steps, your business is at a mature stage and ready to take off.
Step 5 – Running on all cylinders:
You have people, process and products running at full capacity.
Step 6 – Multiply:
You are now in you a position to achieve exponential growth through duplicating your operation in other markets and developing a sound mergers and acquisitions strategy.
Step 7 – Monetize:
Time to look for an exit strategy which could be selling the business or bringing in a team to run the organization while you sit on the beach.