Every successful business creates something of value. The world is full of opportunities to make other people’s life better in some way, and your job as a businessperson is to identify things that people don’t have enough to provide them. Without value creation, a business cannot exist. The best business in the world are they ones that create the most value for other people.
Some businesses thrive by providing a little value to many people, and others focus on providing a little value to only a few people regardless, the more value you create for other people the better your business will be and the prosperous you become.
There are five (5) parts of every business, it doesn’t matter if you run a solopreneur or you’re an entrepreneur or multi-billion ventures, take any of these five factors away, you simply don’t have a business. These five parts are:
1. Value Creation – the more value you create for other people the better your business will be, the more prosperous you become. Create and deliver something of value. A business which does not create value for others is a hobby.
2. Marketing – attract attention and build demand for your products or services. A business that does not have proper marketing is a flop.
3. Sales – turning prospective customers to paying customers. A business that does not sell the value it creates is a charity organization.
4. Value Delivery – give what is promised. Ensure customers are satisfied. A business that does not deliver the value it promised is yahoo-yahoo (scam).
5. Finance – bringing in enough money to get going. Enough profit to continue work. A venture that does not bring in enough money to finance itself will eventually close.
If these five things sound simple to you is because they are, business is not rocket science. Anyone who tries to make business sound more complicated, either tries to impress you or sell what you don’t need. To improve your value as a businessperson, focus on improving skills directly related to the five (5) parts of every business. Before you start any business, you’ve to understand this one thing, not every skill or knowledge is economically valuable. There are many things worth pursuing for the sake of relaxation or enjoyment alone. You may enjoy playing video games all day but is very unlikely anybody will pay you for that.
I want you to make a leap from personal enjoyment to products and services, this time you will find yourself getting paid.
Enjoy your day!