A number of years ago, we decided as a family to suite out my parent’s basement so that both the main floor and the basement could be rented out to help cover the cost of my parent’s living expenses in the nursing home. I was in charge of making this happen.
I figured I knew what needed to be done… plumbing, electrical, cabinetry, drywall, flooring, painting, etc. So, I contacted contractors, got quotes, and we were off to the races.
Here’s what I didn’t know:
- The order in which things needed to be done.
- That contactors don’t talk to each other. They go in, do their piece of work, and go on their way.
- That contractors don’t typically help the person in charge of the project to see the big picture and make things go more smoothly.
My lack of knowledge and expertise in being a general contractor was pretty quickly obvious. Fortunately, the electrician was a friend, and he took me aside, more than once, and gave me some very sage advice and helped me understand what was happening. Lesson learned. I would never do a big reno project again without hiring a general contractor.
Strategists are for Strategy
It’s the same in starting and building a business. So many times, I have met with entrepreneurs who haven’t identified their target audience, done any market research, figured out their value proposition, pricing, brand personality or brand promise, and marketing strategy, but they already have a logo and website on the go. Sometimes they’re even actively trying to make sales at this point! Like me with the basement renos, when you don’t know what you don’t know, you’re likely going to do things out of order, or miss things altogether. Those things can cost you time, momentum, and money, and sometimes they could be the difference between success and failure!
As an entrepreneur, you are a subject matter expert on your product or service. This is great. It doesn’t, however, make you a business expert. Smart entrepreneurs understand that they need to invest in getting expert help and learn how to become a business expert. If you bring in a strategist to help you set those foundational building blocks for your business, you will save time, money and lots of headaches and also set yourself up for optimal probability of success.
What Kind of Strategy Do You Need?
In my 12-week course for startup success, here’s what we do together:
- Clearly identify and articulate the problem you solve, who you solve it for, and what is unique about your product or service (value proposition and target market).
- Learn how to do effective market research so you know who will most likely buy, what they’ll pay and how to reach them (among other things you need to know!).
- Write a full business plan
- Figure out your operations management and financial management
- Set goals and sort out your schedule so you can optimize your time, productivity and make meaningful progress without killing yourself in the process
- Develop a marketing strategy
- Develop a lead generation and sales strategy
- Set metrics and identify tools to gather and analyze data so you can make evidence-based business decisions
- Develop your pitch script and pitch deck and create a plan to get the capital you need
Sounds Like a Lot
I mean, yes, it is a lot, but these are the things you need to do, with or without help and support. Together, we take it in bite-sized pieces, and I provide personalized training so you can navigate it all effectively.
Even if you are already in the market and are struggling to feel like you are “driving the bus” and getting the results you want, it’s not too late to put some great strategy in place and put yourself in the driver’s seat.
So, don’t be like me and try to be a general contractor if you’re not!
Let’s connect and figure out how I can support your business success. Click here to reach out.
And, as always, Stay on Point!