Be clear about the problem that you want to solve

It is essential to think about the problem that you solve and who requires the solution, it is important that you have completed some research from the outset to ensure that the problem you solve is also considered a problem for others. Then I need you to consider, where does your target audience hang out, what do they buy currently, how much do they spend and why is the current offering not working for them?

Take action

What do you need to do to make your product or service a reality? I would encourage you at this stage to think about how you will make your dreams a reality. For example, if you are creating a product, will you manufacture it yourself or do you need to find a manufacturer to do that for you? If it is a service, is it a service that you can deliver or would you need to outsource some elements?

Build your team

As much as I wrote a book called ‘Self Made’, I am very aware that we all need support to achieve our goals – and frankly, sometimes we just don’t have the knowledge or expertise to complete some aspects ourselves. Rather than potentially wasting time and money on learning a new skill, focus on what you do best and invest in experts to do the rest.

Particularly in a challenging economic climate, creating a high-performing, efficient team is key to your bottom line: leveraging freelance talent and having distributed workforce model could be the answer. Rising inflation has already cost UK SMEs an average £186,249 each according to a landmark nationwide survey released by Fiverr. 

Launch now, perfect later

I have perfectionist tendencies and if you are reading this you might too. However, speed to market is important to enable you to receive the necessary feedback to improve your business. Working diligently in an echo chamber of your own thoughts or that of friends/family who love you, won’t always give you the start that you need.

You would all have seen brands come out with a product and then brandish a big ‘New and Improved’ sticker later down the line – well that is what feedback is for! You should start with something good that you are proud of and expect to improve it continuously to suit the needs of your customer.

Focus on the future

Without a crystal ball none of us know what the future might hold but it is important that you have a vision for the future and a mission you want to achieve. So, ask yourself, what does good, great and amazing look like? Having clearly set goals is the route to understanding what you are working on and for.