This is a little take for anyone looking to set up a business. I want to share with you what, in my experience, are the Core Foundations Of A Business.
Running a successful business is completely different from starting one up – we all know this.
The activities needed to operate a business can be divided into a number of functional areas: management, operations, marketing, accounting, and finance. That’s pretty standard and only the fundamental aspect of sales and revenue generation. More progressive businesses sometimes consist of think tanks however more often than not, these are constituted to regular meetings rather than a specific department.
To run something on this scale is completely different than when starting out and stepping into the process of starting an agency will require a whole range of skillsets.
However the most fundamental of all is without a doubt…Mindset!
So what are the Core Foundations Of A Business
Now I’m not going to delve into the wishy-washy dynamics of creating the perfect mindset but the reality is, that starting an agency or any business requires a fuck-ton of dedication and you’ll need an obsession to put in the hours and make it work.
I find it crazy that I have to put this part in here but I guarantee that there will be a high percentage of people buying this course that thinks they are going to be able to read a chapter or two, send a couple of emails and then sit back and swim in a pool of cash.
Yes, the fruits of this and any business (so long as the offer is gold for the client) have been something that I have enjoyed. However, the reality is you have to come into the business to help others and engrain within that the process is where the true sense of joy comes in.
I’ve made it a game and it’s now one I enjoy playing daily as I embrace growth and challenges while upping my game and developing the skills I need to run my network of businesses that include two agencies that I started from scratch.
The skills that I have developed and use now are different to the ones I needed to develop when I first started out but the mindset and determination are the same – as well as my desire to learn, grow and take ownership of everything that goes on.
It’s all about stepping up and taking on responsibility. These are fundamentally the core foundations of a business.
The whole process should look a little something like this:
- Learn A Skill
- Learn An Outreach Method
- Gain Credibility
- Craft The Offer
- Leverage That Credibility To Get Sales
- Improve The Skill By Implementing On The Job
- Improve The Offer
- Get More Sales
- Document Everything You Do & Systemitise Everything
- Delegate The Most Time Consuming Task
- Learn To Increase Profitability
- Get More Sales
- Delegate Another Task
- Repeat delegation and improvement
The reality is, most don’t and it really affects growth for many. In my opinion, it’s why a lot of businesses fail within the first couple of years because they get a client or two and settle, not going all-in to get more sales and delegate the most time-consuming parts.
If you aren’t good at sales, get someone in that is… or learn!
Don’t do what I need with my first agency and miss the initial steps. For the first 12 months, although still profitable, I left so much money on the table by not following the steps. It will save you a lot of stress, trust me!
There is also what I call, the 6 Pillars of Success which is what separates the businesses that stagnate and businesses that scale dramatically. Here are the core foundations of a business:
- Success Mindset instilled throughout from top-level down
- Systems in place for everything
- Leadership at every level of the business
- Networking embraced
- Professional Development at every level
Does this all make sense?