Most people start their businesses without a clear vision of where they are going to derive their first one million dollars from and an exact plan on when will this actually happen. Without that these entrepreneurs are starting out with more of a wish than a vision.
By Tirivashe Mundondo
It is not too late to take an introspective audit of your business and make necessary adjustments. Using the five ideas below, you will realize that it’s never too late to make a positive change for your business.
See the Big Picture
The big picture informs your strategy on where your value is and in turn how to extract value from the work you are doing. Think of Thomas Edison who had to make a lot of inventions before the General Electric merger, a company that extracted the value from his inventions.
The big picture perspective does not state that you should sell bottled water and end there, but that you can actually sell bottled water to tourists in a very hot walkway resort and get far much profit than selling it door to door in your neighborhood. Seeing the big picture prepares you to create a service that is high in demand and impossible to replace.
Put in the hours
Every entrepreneur worth their salt will tell you that it is a mammoth task to create a service or product that people will actually love, let alone delivering it with an exceptional service. The genesis of this success is pinned at some point in sleepless nights, very long working hours and pure sweat.
I was astonished when i learned that Elon Musk, the founder of Tesla is married and has five kids. His ability to juggle his expected responsibilities and running such a big company as Tesla and to keep on inventing outstanding products speak volumes of : 1. his ability to see the big picture and 2. his commitment to put in the hours.
Be so good at your work that you are irreplaceable
You are not going to make a lot of money doing average work in a market overcrowded with average competitors. if you are going to make a fortune from your enterprise, you will need to invest a fortune in being the best you can ever be at the particular job. As long as your skill is so average that you can only compete on price, then your struggle will just be about that for the rest of your life, a struggle.
Choosing to be exceptional however leaves you with the ability to determine who you want to work with and how much you can charge for your services, you can be the one determining your terms of engagement with your clients rather than them detecting to you how you will serve them. if you are the best there is in your industry, it is given that you will always be high in demand and impossible to replace and that advantage will help you build a sold business.
Brand the Part
Most people talk about fitting in and playing the part to look like they are making it and i think instead of playing the part, it is more strategic to brand yourself or business in a manner that you wont have to make an act every time you introduce yourself. if you look at most consumer products especially mobile phones and such, you will realize that the defining difference between product A and product B is the branding behind it and in most cases this will lead to a pricing difference and a perception to the consumer. The great reality you should take in this regard is that: to the consumer, perception accepted is a reality.
The Carl Joshua Ncube Example
It goes without say that Carl Joshua is the leading Zimbabwean Stand up comedian. He literally reinvented the industry in Zimbabwe. Take a look at this: leading does not necessarily mean best, Carl may not be the best comedian there is in the country but he is branded like the best and so to the consumer, that perception is consumed as reality and that’s how his ability to brand the part guaranteed him mileage that would otherwise not be earned without that branding. Here is the lesson: Have a clear vision, put in the hours, be very good at what you do to the extend that you are irreplaceable, brand the part and;
Offer exceptional service
After all is aid and done, your ability to deliver from everything above will be insured by the service your offer to your clients.
I once dealt with a certain internet provider whose service was so pathetic they wouldn’t even explain the problem with their connection in advance and to make matters worse, when i called in with questions, the call operator will just frustrate you with delays and profess ignorance in the downtime -pathetic.
So this is what i did, i switched the service and started using UMAX (notice – I am happy to mention them, and because of their great customer service, my gratitude becomes free advertising for them). UMAX is a bit pricey as some would say but the satisfaction I get from their service is worth it hence I am not worried about the cost.
The lesson here: You will always get what you pay for. If you are looking at competing on something more tangible than just price, make your service so exceptional that people will que up to give you their money.