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How to Make a Plan That Will Help Your Business Thrive

How to Make a Plan That Will Help Your Business Thrive

What is the difference between a successful company and an unsuccessful company? Why do some entrepreneurs succeed where others have failed miserably?

What makes someone successful?

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    Everyone is looking for the answers to these questions; everyone wants to find the keys to succeed, the shortcut that will make it all easier.

    The problem is in that word, shortcut.
    The real key, the real secret is that there is no shortcut.
    You need to work hard, endure long hours, and maintain focus if you want success.

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    You can succeed

    Many studies have been made to why some entrepreneurs succeed while others don’t.
    In many cases, it all comes down to planning.

    There’s an old saying: every minute spent on planning saves up to 10 minutes in execution. Even though we know this, very few people spend enough time planning.

    Spending time before you start your business making plans is tiresome to many. You are essentially working without getting paid, in the short run. But when you plan you create a roadmap; you build yourself a guide that will help you on your entire journey towards success.

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    Successful entrepreneurs plan and then do something completely different

    The hard part about planning is getting it right. When you plan you try to foresee circumstances in the future, to predict how things will play out and make plans for how you will react and what you will need, you can’t always get a 100% success rate. Since no one knows what the future brings, most plans become obsolete as soon as the entrepreneur starts his business.

    All successful entrepreneurs started off with a set of plans, but many ended up doing something completely different. (But they all had a plan).

    Unsuccessful entrepreneurs fail because of lack of planning

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    Because studies show that many original business plans become obsolete soon after the business gets off the ground, some entrepreneurs decide to skip the whole planning process. But without an exact idea of what they are going to do, what they need, what opportunities to look for and without a frame of reference to evaluate situations by, they fail.

    Successful entrepreneurs have a plan to update

    When you have a plan, you can modify it, you can evaluate things happening around you and compare them to your plans. You will be able to see if this opportunity is in line with your goals, values and dreams. If it isn’t, you know it is a bad idea to follow. Thanks to this whole planning process, you will have a long term mindset, you will constantly be thinking about what the things you are doing today will have for affects on your future.

    This mindset is a precious commodity and one of the most important parts of being an entrepreneur. Remember, all successful entrepreneurs have made business plans, even if they didn’t always do exactly what they expected.

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    Action Exercises

    1. Create a business plan
    Ask yourself the following questions – What do you plan on doing? Who is it you are selling to? What do you need to be successful at it? How much do you need to sell to brake even? What costs will you have? How many employees do you need? What kind of office space will you require? What can you delegate? What do you need to do yourself?

    2. Create a vision
    Try to crystallize the values you want your company to stand for in simple terms. Make sure everyone who joins the company learns about what the company stands for, and prove it to them by living by those values.
    Let the employees be a part of the creative process, come back to it once in a while, look it over, and let them give you their input.

    3. Never be afraid to update your plan
    You will need to update your plan many times, you might even change to a new industry after some time has passed. Don’t be afraid of this, but make sure that the change is in line with your goals and your vision. If the path you are on won’t lead you to your goals, change that path now to one that is more suitable.

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    Published on December 18, 2018

    How to Brand Yourself and Make Your Business Stand Out

    How to Brand Yourself and Make Your Business Stand Out

    You’ve been in business for years and have finally hit your plateau.

    The tactics you’d implemented for your customers aren’t working as they’ve used to. You feel like your business has fallen out of the spotlight and now you’d have to settle for any business you get. It’s how businesses work, right?

    The truth is that some brands will fade off the business world–while others will adapt well and continue to grow. You shouldn’t be too hard on yourself for where your business currently stands. After all, you’d kept applying tactics that provided predictable results.

    Instead, decide to not settle for average results and spend more time building your brand. To make your business stand out from your competition, you need to be unforgettable. But how can you?

    In this article, I’ll cover timeless tactics that have worked for other businesses. If you apply these tactics correctly your competition won’t be able to copy them. Here’s how to brand yourself and make your business stand out:

    1. Win Your Audience’s Hearts with Authenticity

    The truth has always shined.

    Even without the technology we have today, people always had a way of finding out if someone was lying. And, with everyone engaging in social media today, it’s hard to hide from the truth. Yet, this seems to be what many businesses fail to do.

    For example, companies like Listerine have been fined for lying.[1] A quick buck today won’t be worth it in the long run. Instead, practice being authentic to your customers and they’ll eventually rely on you.

    Allow your customers to buy your products with a money-back guarantee – then deliver on your promise. Be consistent with the content you provide and stay true to your brand.

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    For example, if you provide coaching services for entrepreneurs, don’t sponsor irrelevant brands. If you stop caring about your brand’s mission, your audience will notice. They’ll question your integrity with your business and stop trusting your brand.

    But if you gain your customer’s trust, you’ll start standing out from your competition. Your customers will feel safe purchasing from you since they’ll know you’re honest.

    2. Share a Story No One Will Be Able to Copy

    A few decades ago, a brand would’ve gotten away without being unique. That’s because back then starting a business was not accessible to most people. You’d either need enough money to launch your business or have the credentials. And even if you had all these qualifications, you needed to get past the gatekeepers.

    Today, technology has disrupted many of the barriers that were present a few decades ago. For example, today a college student can launch a Podcast within a week. He can create a website in a few hours and record a few Podcast episodes. If he’s persistent, he can build a large following overtime and get paid by sponsors.

    This is great news for aspiring entrepreneurs but there’s more competition than ever. You can only do so much before other businesses begin to copy you. But what no business can copy is your story.

    That’s why you need to share your story with your audience.

    For example, if you have a money blog, share how you’ve overcome your financial struggles. If you run a freelance writing business, share how you’ve overcome writer’s block. The more your audience can relate to you the better.

    Without a story, your business won’t stand out. And if you copy what’s working for other businesses, you’ll experience short-term success.

    Take some time to share your story with the world, your audience will love you more for it.

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    3. Stop Reinventing Every Single Thing

    “Don’t reinvent the wheel, just realign it.” – Anthony J.D’angelo

    You may have heard that being original is the way to stand out. While this is true to an extent, you also shouldn’t be original when something is already working.

    For example, if your competition has a successful Podcast in your field, then so can you. Don’t search for better alternatives to a Podcast if it’s already working.

    Why?

    Because this is a waste of time. Instead, copy what’s already working and make it your own.[2] If your competition has a Podcast, figure out which areas you can improve and tailor it around your brand.

    Knowing this you can now spy on your competition and determine which areas you can improve. But, know that it also works the other way around. Others will view your business and copy what’s working for you.

    That’s why it’s important to stay true to your brand and be authentic with your audience. When you do, your competition won’t be able to copy your unique traits. Have an abundant mindset and feel confident for what your business has to offer.

    4. Shine Because of Your Uniqueness

    Stop trying to help the entire world and focus on helping a specific group of people instead.

    I get it, you’re willing to help almost everyone because you want to bring in more business. But the truth is that if you resonate with everyone, you resonate with no one.

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    Take, for example, a marketing agency that helps businesses promote their product. This business doesn’t speak to anyone but gets occasional sales throughout the year.

    But what if there was a similar marketing agency dedicated to helping real estate agents? If there was a real estate agent looking for help in marketing–who do you think they’ll choose? That’s why niching down is necessary if you hope to stand out from your competition.

    Determine which customers you enjoy working with the most and determine which customers bring in the most revenue. Once you’ve gathered enough data, focus on servicing your ideal customer.

    Don’t expect immediate results since this won’t be an easy transition. If you’re currently helping a narrow audience, slowly transition into a niche audience. Niching down is crucial to building raving fans.

    5. Be the Brand Everyone Can Depend On

    Being the brand your customers can depend on is important. How many times have you bought a product that’s failed on its promise? Or have settled for an average service?

    Exceeding your customer’s expectations is a sure way to make your brand stand out. In the book Influence: The Psychology of Persuasion, studies on human psychology prove that when you give to others, they’ll reciprocate. Offer your customers free consulting, a free ebook, or free quality content. Eventually, they’ll be happy to reciprocate after receiving value from you.

    View what your competition is doing and surpass their offers. For example, if your competition offers a free 15-minute consulting call, offer 30 minutes. When you focus on helping others more, your customers will notice.

    Make it your mission to serve your customers first and then worry about making a profit. Other ways for your business to be reliable is by inspiring your customers. That’s right, a business isn’t only about selling, it’s also helping customers achieve their goals.

    For example, you can write content that will inspire your audience to take action. You can interview guests that will push your audience to break bad habits. Get creative and look for more ways in which your audience can depend on you with.

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    The Bottom Line

    Imagine serving fewer customers and getting paid more than ever.

    Despite the fierce competition, you’ve got fans wanting to buy your products and services. Although this may seem impossible right now, it’s not. If other brands have been able to stand out in a crowded industries, why can’t yours?

    The truth is that standing out from your competition isn’t easy. There’s no secret formula that’s available to the rest of the world. The trick is to do what most brands are unwilling to do.

    Many businesses don’t want to niche down because this will mean a loss in sales. But that’s sacrificing short-term gains for long-term success. Niching down is necessary to build a brand your customers will love.

    Many businesses will spend a lot of money looking for ways to innovate, but won’t apply what’s working. But, not you.

    You’ve got what it takes to stand out from your competition. Start slowly and master each principle covered here. Now go and make your business stand out like never before.

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    Featured photo credit: rawpixel via unsplash.com

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