7 Steps To Create The Business of Your Dreams, Part II

Planning and launching a successful business calls for many elements to be aligned including, vision, planning commitment, etc. There’s a sequence of events that lends itself to success in our Free Enterprise system and if you follow them, you can dramatically improve your chances of success. In my last issue I wrote about the first 4 steps you want to take when organizing or launching a new business. Here are the next 3 steps to consider. If you’re in business now and feeling stuck about moving forward or feel like you “own a job”, be sure to look over all these steps, including Part I, to see if you’ve covered all the bases.

Also know that I’m a big advocate of getting your ideas out there ASAP as opposed to being perfect first. Following these guidelines will help you get out there quickly, yet with the least amount of risk.

5. Set-up your DISTRIBUTION/OPERATIONS.
The WHERE your product will be sold will determine WHAT it will look like. Before you commit to product development (beyond the prototype and testing phase with the final product) make sure you take the time to set up your distribution channels and logistics. Who will be buying or selling your product? This also includes all the nuances of storage, ordering, shipping, backend support, etc. If you don’t set up some infrastructure, systems and sales channels first, you run the risk of implosion if you aren’t scalable or if you allow operational chaos. This is common in small businesses when the Founder/ CEO manages too much responsibility and doesn’t have the ability to delegate to others because there aren’t systems set up. You’ll also see this in businesses that focus on making product which just sits there because they haven’t set up their sales channels first. There are a variety of ways to create demand for your product before you’ve actually made it. The same principles apply for offline and online businesses.


6. Manufacture your PRODUCT.
People are always surprised when I place this so low on the list but there are good reasons for it. I’m an advocate of product testing and validating up towards the planning stage but in this step I’m talking about making that commitment to your final product development where some type of manufacturing investment is made and now you have to deal with storage and shipping issues. Obviously this isn’t as much of an issue with digital products as it is with more tangible products but regardless, I would let your product ideas evolve a bit before committing to their development. I know of many instances where entrepreneurs rushed into this stage-- spending $10,000, $50,000, $150,000—without fully getting a handle on who their market was and what their market desired in a product. Many had to go back to the drawing board after making such investments. I’ve also seen people invest in product development before they had outlets to sell their products and were amazed that product didn’t “fly off the shelf” simply because they had made it. Hello, reality check! Bottom line is don’t jump into major investments in product development before you’ve done some testing, understand your ideal market, have the capability to manage the inventory and know for sure where the product will be sold at least in the beginning.

7. Execute your sales, marketing & PR effort.
If you’ve taken the time to cover all the previously mentioned steps, then once you’ve gotten to this stage, you should be an unstoppable evangelist for your business. You’ll have systems in place as well as support and access to financial resources to handle the growth that will ensue form everyone raving about your business. You’ll be spending time with the media, creating new and exciting marketing opportunities, and establishing strategic sales alliances. You’ll experience slow, steady growth and avoid many of the headaches experienced from underplanning, underfunding, lack of experience, etc.

There’s good news and there’s good news: Always congratulate yourself for taking ANY action, even if you feel out of sequence. Most people don’t take any of these action steps in their life and are perfectly content to watch you do it! Also, if you feel like you may be off track, know that it’s never too late to course correct and start moving through the steps you may be missing. You’ll get caught up faster than you think!

Maria Simone helps those who want to transform their talents to create 6 and 7 figure businesses using these sequencing steps. Learn more at http://www.passion2prosperity.com/