You have a great idea and you’ve got what it takes to start a business. If this is your thinking process, it also means you are likely to be confident and have the courage to take that first defining step. Congratulations! You are half way there.
But what’s next? The ever so difficult road towards building a business with a plan that seems to have a never ending list of ‘to do’ items. It’s a trap that most business owners and entrepreneurs fall into. Why clarity is key in business rather than just having a rigid business plan?
I recently came across a quote that defined an entrepreneur as: “Someone who works 100 hours a week so they don’t have to work 40 hours for someone else.”
Most of us go into business to create a lifestyle filled with freedom only to place higher than ever expectations on ourselves. Often we end up hustling a whole lot more than ever before.
Why? When you do something from the depths of your heart and soul, you also care a whole lot more. There is more to loose and the fear of failing keeps you in the race. But if you are not careful, you can either burn out really quickly or/and start resenting what you are doing…
The key is having clarity around what you do and why you do it.
(1) your core reason for wanting to have your own business (also known as your ‘why’)
Meaningful and purposeful connection with my clients, friends and family is why I started my business. I am also keen to run a location independent business that enables me to travel and see my family and friends around the world a bit more often.
(2) the core purpose of your business
When I started designed by life, I wanted to remind people how unique they are from the onset of being gifted a one of a kind life. I never thought my blog will become a conduit for my business but in hindsight I believe it was meant to be. Being able to support and encourage people to pursue their purpose in life makes coaching very rewarding.
(3) your business mission
Knowing what impact you’d like to make with your business is important. My mission is to transform a million lives to live out their soul’s truth.
(4) how to prioritise what needs to be done in your business
In a nutshell, it’s what brings in the highest value and most satisfaction for you. Value in this instance doesn’t necessarily have to refer to monetary income. The more you enjoy what you do, the more you understand what you are good at. Anything that’s currently a bit of a burden or frustration can be either outsourced or if that’s not an option then potentially revisited at another time.
(5) identify your business milestones and how best to measure these
Having clarity around your goals and what milestones look like for your specific business are essential. A milestone could be reaching 1,000 followers on Instagram or selling 100 products from your range. Setting clear and measurable goals will help you keep moving and building your business with joy and success.
CELEBRATE YOUR SUCCESSES
I think it is important to celebrate the milestones and maybe even keeping a list of the little wins that happen along the business-building journey so you can look back and measure just how far you’ve come.
I don’t like the concept of the old-fashioned business plan. I think in this day and age they are a bit rigid and contrived but I am also not advocating not having a plan at all.
3 MONTH PLAN
Playing around with an overarching strategy or vision for your business is a good idea. I like looking at creating 3 month strategy blocks at a time and keep shaping my overarching vision from the learnings along the journey.
DAILY TOP 3 PRIORITIES
I set myself 3 top priorities for each day and try getting those done by the end of the day. Don’t get me wrong; sometimes even those 3 things are bloody hard but I also know if I keep them balanced (simple but effective), I can keep moving and progressing. It also makes me feel like I’ve achieved something at the end of the day.
IF YOU DON’T LIKE SOMETHING, CHANGE IT!
Also knowing that if I don’t like something I can change it, is liberating. This particular item brings me to my next point: don’t hold onto something that you thought was really essential to your business at the beginning but not so significant to your progress right now. Being honest with yourself and leaning into discomfort are growth phases and usually identified whilst you are ‘in the thick of it’ so to speak.
There are things you can never foresee and it’s OK. You will never be able to plan for everything but being real about shifts and changes in your business is important.
If you get really stuck or frustrated, just take a break and revisit your purpose and mission. Sometimes rebooting is the only option.
You can join me for a 3 month coaching series where we go through all these elements and tailor the program to suit your business – please send me an email to find out more.
Have a great week,
SIDE HUSTLE TO FREEDOM
and find out how I turned my side hustle
into my main business.