What is your business idea?
What are you selling?
What industry are you in?
The truth is that it does not matter what kind of business, product or industry you are in, as all businesses require certain building blocks.
These 13 business building blocks are universal and all entrepreneurs must know and take action on them:
- Products & Research What problems are you solving? Does anyone care? Anyone else solving the same problem? What is your solution?
- Marketing Who is your potential customer? How big is your market? Is the market growing? How do you find them? What are you telling them?
- Sales Who is your perfect client? How do you turn an interested buyer into a paying customer? Why do they need to buy from you? And, why now?
- Orders & Fulfillment How easy and how fast can a customer receive your product?
- Customer Services How easy is it for a customer to contact you after they purchase your product? Who should they talk to? Are you turning a paying customer into a repeat customer?
- Professional Services How easy is it for a customer to use your product? Are you available to help them in person?
- Partnership Who should refer and recommend your product? What other products or services compliment your products?
- Legal What is your legal structure? What is your legal protection if anything goes wrong?
- Finance What are your revenue, profits and costs? What is your cash flow? Who are your accountant and bookkeeper? How much are you spending in each area of your business?
- Information Technology Are you leveraging technology to reduce costs and save time in all areas of your business?
- Human Resources Who are your “people” resources? How are you keeping them motivated so they would do everything they can to make your company successful?
- Facilities Where is your office? What kind of equipment or tool do your company need to work effectively?
- Strategy & Leadership What is the purpose and goal of your company? Are you bringing everything together and making sure they work smoothly?
Think About This…
How are you doing in each of these areas?
Just Do This…
Write down your current status in each of these areas, and then identify one key project you need to work on immediately.
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