Seeking Clarity as you Start your Small Business.
As you set out to turn that idea in the back of your mind into a profitable business, its safe to make sure you have clarity on important things.
First, what do you want to do? Meaning, what kind of business do you want to start? Do you want to offer a service or a product. Start by deciding what problem will your business solve. Most people, including impulse buyers, buy things to solve a problem. We buy food when we are hungry, we buy a bigger shoe if our old ones hurt, we buy a rake to clean the leaves and debris from the yard. Narrowing down, or getting clear on what problem you business will solve is the beginning step.
Next, as you start your small business, you must be clear on your expertise. Are you good at making the product or can you actually do the service that you plan to start a business with. But even if you are not an expert, are you willing to do the research, attend classes that will better your business.
Clarity on Running a small business
Now that you have a a solid working start to your business, let discuss getting and keeping things clear as you run your business, the day to day operations.
Are you clear on your target customer or client? Exactly wo will be buying from you. Finding and promoting your business is the most important skill in running any business. You don’t want to waste time or energy, dealing with people that are not your potential customer and will not promote you to others.
Setting legitimate boundaries in your business. Nowadays, most small business are run from home, so making clear boundaries is essential.
- Have set start and stop times. Be clear on what time you will start working and what time you will stop. The freedom of working from home, can lead to exhaustion and burn out. If you work a typical 9 to 5 job, you come in at 9 and go home at 5. Make the same distinction at home.
- Responding to clients. If you answer calls from clients at all hours on the day and night, they will continue to call at all hours of the day and nigh and will expect you to answer and have a pleasant conversation. Make it clear what times you will answer phone calls, if you don’t want to respond to calls after 5pm, stop answering the phone after 5pm. The same can be said of emails. If you wake up at 3am and respond to an email, clients will think its ok to email you at 3am.
- Set your prices and stand by them. It works both ways with prices, people feel they can throw money at you and “encourage” you to change something in their favor, that is not a good business practice to start. If you allow this to happen it will continue. Don’t reduce your prices to accommodate anyone’s budget!! People do not haggle at Walmart, or Target or any other stores, they pay the price as marked; and they will do the same for you if you stand firm in your pricing.
Gaining Clarity to Expand or Grow your Business.
With your business running successfully, clients coming in and you are making a profit. Now comes the time to expand and grow.
- Hiring employees. As your business grows, it may come a time when you are not able to be all things in your business, this is a good problem to have. but hiring employees can be a process. Be clear on who you want to hire. Ask questions, take much consideration into the response. Be mindful of putting your business in the hands of someone who may not be committed.
- Adding more products to your inventory, can be a way you want to grow your business. Be clear on what you want to add. How will it help you business, how will you market the new with your existing products. The same with services. Are your prepare to do expand on your service, do you have the manpower to do the physical work required. Do you need to educate yourself on the expanding service?
- Once you are clear on expanding your business, how will you advertise to a larger audience to market your new service or product. Current customers should be your first stop. You already have their attention and if they are repeat customers, they are the perfect people to market a new product or service to first.
Final Thoughts on Business Clarity
Having a clear vision and plan before starting your business is key to having a profitable business. Continue to seek clarity as you run your business, dont be afraid to set and keep legitimate boundaries. As you expand your business, stay focused and keep a clear mind of where you want your business to go.
As I was starting my business, I did my research before I even came out of the gate. Below are some books that helped me gain clarity as I brought my ideas and dreams into reality. (affiliate ad).