7 Secrets to Starting Your Dream Business
As a serial entrepreneur with many failed business ventures in lucrative industries like technology, health, wellness, and beauty, I often wonder why I failed so many times.
Why were those businesses doomed to fail from their inception? After studying successful companies, I realised they failed because I lacked the leadership values and attributes necessary for business success. What a shocker! Unbeknownst to many aspiring entrepreneurs, there are fundamental values and qualities you may need to possess to secure a win as you start your dream business.
Purpose To Serve
Knowing your purpose is vital. Humans have this inner pull to do something meaningful, significant, and impactful. Our purpose gives us the reason why we want to have our dream business so that we can serve and solve our ideal customer's problems. We may have experienced those problems in the past and now have solutions to help others with that specific problem. Or, we may have the expertise to solve their particular situation.
Having A Vision to Impact
Vision captures the big picture with the looks and feels of your ultimate business success. It encapsulates the problem you solve, who you serve, and how your product or service ideally impacts their lives. You can capture your vision from dreams, daydreams, and the deep desire to impact the world. That is valuable information to help pick your niche and pinpoint your potential customers.
Passion For Staying Inspired
Having a passion or the deep desire to solve someone's problem and positively impact their lives is a secret that will grow your business. Potential clients will be inspired and want to support or do business with you when they see your passion, energy, and excitement. I will admit I was not passionate about some of my previous ventures. I did not believe in the products and felt embarrassed about promoting them to the market.
Convicted About Your Significance
It is essential to have a strong belief in the significance of your role in solving your potential customer's problem. It would help if you also believed in your product and services. If you don’t believe in your service or products, your customers won’t believe either. If you have doubts, your profit margins will be negatively affected.
Committed To Stay Focused
It is necessary to be deeply vested in solving your potential client's problems and impacting their lives. It may require taking action by equipping yourself with all the tools, research, and practical systems to make you stand out in the marketplace.
Persevere To Complete
In achieving your dream business, it is paramount to continue to pursue your desired business success despite difficulties, challenges, failures, or opposition. It is necessary to stay the course and be purpose-driven about solving your dreamed customer’s problems.
Confidence to Execute
It may be daunting and overwhelming when starting a new business because it may be stepping out of your comfort zone to make your dream a reality. You may be scared and fearful and feel like you lack the confidence to succeed. You can build your confidence by studying and modeling people with confidence who you admire. You can also fuel your fear into power and show up at your best.
Business success is attainable with a good foundation and proper systems in place. With a solid foundation, it is easier to implement all the critical business systems to operate your dream business. Learning the secret personal values gives you the building blocks for a solid business foundation.