Getting clarity in your business may well not be top of your priority list at the moment, especially since as a product business owner you will be wearing so many hats.
However, taking the time to really think about what you want to achieve in your business, why you want to achieve and who you want to serve can make a major difference to your business' long term success.
What is your mission?
How much clarity do you have around what you want your business to look like in 5 years time? Or even this time next year?
If you were being interviewed in 20 years time about your business, what kind of story would you like to be telling?
Would you be telling a story about how you grew it to be a household name? Or about how you sold it after 5 years and moved on? Or it be a tale of how your business supported you and your family with flexibility and additional income?
Each one of those stories is just as valid, and yours will be different again. Only you know why you want to start this business, so take the time and unlock that story to gain clarity.
What is your motivation?
Getting clear about why you want to create your business is also really useful for keeping your motivation high during difficult times.
Every business hits bumps in the road. It's not really a question of "if", more a question of "when". Having a really clear idea of what you are trying to achieve and more importantly, why you are trying to achieve it is going to help you during those difficult times.
Who do you serve?
"What do you need to start your business? Three simple things: know your product better than anyone, know your customer, and have a burning desire to succeed." Dave Thomas, founder of Wendy's
Knowing who your core customer is will help you shape every decision that you make in your business.
That's why it's vital to take the time to put together a really clear idea of who you want to serve.
It's also worth pointing out that your ideal customer is also about finding the kind of person who will be a joy for you to serve. Your customers are going to be the people you spend the majority of your time interacting with in your business, so who do you want them to be? Choose wisely, and learn to recognise when someone is not your ideal customer.
Of course, over time you may find that you serve a few different customer types, but as a small business starting out, you want to make your ideal customer as specific as possible.
Want more clarity in your business?
If you are serious about taking control of your product business in 2019, at the end of January I'm launching Fast Forward To Profit, the blueprint to saving you time, stress and money in your product business.
Find out more and get access to early bird pricing below.
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