“Other biggest questions that we ask and you need to answer are ‘what problem are you solving?’ or ‘what pleasure are you bringing?’. So your business is built around an ideal customer and that person is a semi-fictitious individual. So you need to be building the whole business around a problem that you are solving for that ideal client profile.”

 

Starting a business is never easy. The most important question that needs to be asked is ‘why?’. Why do you want to start your business? Why is your idea better than the products/services that already exist? There are also many things that need to be considered, such as your marketing, sales and scaling strategies, if you want your business to be profitable, and because every business is unique, it can’t have a ‘one size fits all’ approach. 

 

Today’s guests are Jacqui and Helen. Together they work as business experts who specialise in business planning and sales strategy. They work 1:1 with women in business helping them to grow their businesses and reach their profit goals.

 

In this episode, we will be talking about the importance of developing your business vision, questions to ask yourself when starting a new business, and why competing on price is never a good idea and much more.

Let’s jump in! 

 

 

WHAT YOU’LL LEARN FROM THIS EPISODE:

  • – Is it necessary to develop a business plan when starting a business
  • – Is there a difference between business plan and marketing strategy
  • – What happens if you change your mind after writing your business plan? Do you need to write another one?
  • – What is an ideal client and what goes into developing that ideal client
  • – Do you need to write your ‘why?’ down so you would always have a clear reference to your vision
  • – Does your ‘why?’ need to have aspects that aren’t financially motivated
  • – At what point people want to stop when developing their business plan
  • – What other things you need to consider when developing a business plan
  • – The importance of pricing for business growth
  • – How to justify higher prices in a saturated market that has lower prices
  • – When having an online business, do you need to work extra hard on your product branding in order to add a personal touch?
  • – Providing free content to people can be beneficial to your business
  • – What happens after you develop your business plan
  • – Why having plenty of time for your business launch is crucial

 

RESOURCES:

Subscribe & Review in iTunes

Are you subscribed to my podcast? If you’re not, I want to encourage you to do that today. I don’t want you to miss an episode. I’m adding a bunch of bonus episodes to the mix and if you’re not subscribed there’s a good chance you’ll miss out on those. Click here to subscribe in iTunes!

Now if you’re feeling extra loving, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast and they’re also fun for me to go in and read. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you!

OTHER WAYS TO ENJOY THIS POST

  Download on iTunes  Join the SOM Facebook Group

Kaity Griffin