Keen to get off to a flying start with your business?
Having a great idea and all the skills and knowledge is a terrific first step but true success requires a bigger investment.
Brimming with enthusiasm and passion? That is great news, but if you’re aiming for soloist success, don’t forget the middle section. What gives you the nuts and bolts of staying power?
These four experts share their most important tips for how to get started with your business, when you’re just starting out. Sometimes just being able to listen to other people’s success stories can help us build our own.
1. The business skills we need to succeed
Ryan Trainor became a soloist 20 years ago. With no university degree and now in his 40’s Ryan has made BRW’s Rich List hovering around the $30 million mark. His recent project, BSchool is a high-level business school program designed to help entrepreneurs excel.
As Ryan tells Robert Gerrish, to his mind the successful business skills throw out the bells and whistles and focus on solving simple problems: “There is infinite opportunity around the day-to- day. Ask yourself what are the essential few things that make the biggest impact, rather than the important many.”
2. Essential calculations for all startups
Find your break even point in your business, David Shire, of Business Success Biz tells Robert. Fail to get it right and you run the risk of not making it past your first year.
“Understand how much money you want to make in the next 12 months – that is in your pocket, after the costs of your overheads. Add a 20% figure on top to cover tax and superannuation,” says David.
“This figure allows you to do a calculation around how much time you need to spend actually doing your product and service, to achieve your break even point. This frees you up to focus on where you should be spending your time.”
3. Old-school marketing that really works
Marketing guru, Winston Marsh started sending people cassettes full of “useful snippets and facts” in the mail about 30 years ago, so they could make the most of idle time in the car. In this episode of the Flying Solo podcast, Winston tells Robert (among other things) that the letter box is still a goldmine for business success.
“Be wary of the “blast” on social media when it comes to marketing. It’s immediate but not a long term impact in terms of results.”
“Think of how you describe yourself. Be personal, be yourself so your communications ‘sound’ and ‘feel’ authentic to you. Use your letterbox! Don’t just dismiss as junk mail it can get your attention.” xxxxx
4. How to be different
Glen Carlson, Key Person of Influence.com.au says this question might not be top of mind for budding soloists – but it should be. As he tells Robert in this episode of the Flying Solo podcast, the ever growing soloist space demands operators have a good pitch, credibility, raise their profile and do partnerships, to get by. While a focus on integrity and personal values are the real baseline for success.
“The real things that can make a big difference immediately in the service space? Have a clearly articulated ‘why’ and a good reason for doing what you’re doing,” says Glen.
“That needs to go beyond making money and connects at a human level in less than a paragraph. Understand business is not easy. Understand your people, ask: Who are your audience?”