Let’s talk about developing a business, why it’s important to develop your business, and more specifically, the things you need to focus on to build a successful business.
Do Few Things But Very Good
The first thing you have to know as to success in online business, or actually in any type of business, is that you only need to do few things well. In some cases, you could even get financial freedom by just knowing how to do one thing very well. This is a problem for many new entrepreneurs, or in general for people who want to start doing business, and believe that they have to offer everything for everyone.
When you start analyzing and you look at the most successful entrepreneurs and the most successful companies, you will see that they have been based on the idea of specialization and on the idea of being very, very good at providing a very, very good thing.
And what you have to start asking yourself as an online entrepreneur is: ‘What makes me unique? What do I contribute and why are people willing to pay me? What do I do better than most other people? And what is the work or skill that I can perfect and improve even more and by which I can be paid even more as I advance?
It is very important that you have this discussion with yourself soon and often, because it is very easy, as the business grows and things get complicated and your schedule becomes more and more hectic, you can divert your attention in a million Addresses.
The point is to remind you to focus on doing few things or even one. You may be a great speaker or a good speaker. Maybe you’re good at programming. You may have a special ability to negotiate and join teams or to reach agreements between two different companies. It really depends on you to find out what that special skill you can bring and then simply work to be very very good at it and try to improve over time.
This brings us to our second point, which is how do you get even better at what you are already good at?
When you focus on things that you do normally well, the things you want to get paid in your company, you will generate the level of expertise that people will want to pay for, and then you start asking yourself this question, How can I improve In what I am already good?
What you really want to say to him with that question is, How do I get paid even more for that skill in which I am already naturally good and for which I am making myself known as an expert and by which people Come to me for help?
Maybe they’re already paying you a fair amount of money for doing what you do. How to get even further? How to develop that talent and be even better at it, and in turn increase the amount of income you can generate with this skill?
It may seem contradictory that as we go deeper into one thing we think we will have less to do, but in fact, it is the opposite. The more you focus on a particular skill, the greater the opportunity to grow and develop that skill.
Once again, returning to my example of being a good speaker, once you become very, very good at a way of speaking, perhaps as a speaker at events or if you are hired to speak at conferences, then you will have perfected the art of oratory. You know how to connect with your audience. You know you can keep people’s attention and even motivate them to action.
Now you have all kinds of opportunities to enter the world of the webinar or online presentations or to become an instructor and teach other presenters how to do what you do. As you improve on what you are already good, your ability to make more money will increase.
Separate Business and Feelings
Another very important thing about business development is your ability to separate business and feelings. This is where the large number of entrepreneurs, especially novice entrepreneurs, fail.
There is money involved and many feelings can get involved when money comes into play. It is very important that you look at every situation. Could you negotiate with a customer who treats you disrespectfully? Could you negotiate with your partner or former partner? Maybe you’re working with outsourced people who offer you some content or some sort of material for your business, and they become unpleasant or have a personality type that you simply do not get along with naturally. How do you react?
It is very easy to let yourself be betrayed by emotions, whether you feel that you have been cheated of something for what you paid or if you think you have been despised; You could conclude that they are not respecting you.
When making a decision, always rely on what is effective for the business. Your job is to make sure your business stays alive. Separating the feelings of business is very easy to do when we approach business in this way.
If it is time to let someone go because it is not a good choice, you can focus strictly on: This is a business decision, and my business will die if I do not make this decision.
It is very easy to eliminate feelings when you separate from the company. Your job is to keep the business alive, and the more you let go of the emotions, the less effective you will be in making those difficult decisions that will keep your business afloat.
To be a student for life
The best entrepreneurs are students for life. If you look at any successful entrepreneur, even the most famous people in the world today, where you could be reading his biography, take a look at your daily routine and you will see that they are always learning. They are always studying. They are always pushing themselves.
Often, the most successful people you can read about are the most determined. They are the ones who get up at 3:00 and 4:00 in the morning and work all day, and I’m not suggesting that you have to work tirelessly to achieve success, but they are addicted to growth. They are addicted to becoming students of their trade and getting better at what they already do well. They never, ever let themselves sleep on their laurels or look at what they have done in the past and say: ‘I have already achieved my maximum level of success. I’m done. ‘
They are always looking for ways to grow. They are students, and when they feel that they dominate something, they enter into another area that can expand what they are already doing well and become new students in that area.
They enjoy the process of learning. They enjoy the process of coping with something they do not know how to do, going through the awkward initial phases of figuring out how everything works, developing competencies, and then being motivated by the idea of mastering something new that they were not able to do before. You have to be able to think that way in all areas of your business. If there is something you master and it is time to move on, what another area of your business could you dominate that will make you more profitable?
Repeatable Processes and Systems
Next, you need to find repeatable processes and systems. It is very easy to think of a project that you want to start up and give some money, and then you leave it aside and you think about something else and every time you have to restart the process. You’re starting from scratch. You have to start asking yourself, ‘How can I take advantage of the actions I take, the things I do in each project, each one of the projects that generate income? How can I follow a model? How can I guide myself through a system or write a checklist so I can repeat many of the things that led me to success in the first place? ”
As an example, let’s say you create a product of some kind and people are buying it and have questions. Perhaps many of the questions that come are of the same type. Maybe they fall into three different categories, but for the most part, there are three categories of questions and you can anticipate that these same questions will appear again in the future.
Well, you can create response templates, anticipating when you are going to ask about it again in the future. Instead of having to answer these questions again yourself or your support team, you could have templates created or create a FAQ section and you will have something already done. It is already fully systematized, so when this happens, your company is already prepared to automatically handle the action and move on. Do not interrupt what you are currently doing, what you are working on for the growth of your company. The more you do it, the more processes you will find and the more things you will systematize, the greater the asset base to build in your business and the more money you can make, because you can take care of more.The more you can systematize, the more money you can earn.
So you should always be in search of things that you are doing that are repetitive in nature that can be systematized or put into some type of template.
Building Your Network
Finally, the construction of a network. When it comes to business development, it is impossible to go far and become a successful entrepreneur if you are not expanding your network of contacts. The problem is that many people do it the wrong way.
They enter into these social networks like LinkedIn, and they start asking people for help, or they go to an event and all they talk about is themselves. The key to building your network is to locate and connect with other people, and the best way to do this is to meet people with the idea of knowing them well and having the genuine interest in who they are and their lives.
Not only for what they work for, but also for their personal lives: where they live, how many children they have, where they grew up, some of the things they do outside of business, some of the projects they may be working with that have nothing to do With earning money. It can connect with people on all types of levels.
I have spoken to a large number of businessmen. Some of their best partners, some of the best people in their network, are people they hooked up with out of business. Good because they played together on the same sports team or maybe because they were interested in the same type of hobby. When they met at that level, they had a common connection, a common bond, and then it happened that business connections flowed naturally out of that.
When entering an event or networking situation with the aim and determination of I just have to build my network and I have to find as many people as they can give me as much money as possible, you are doing In the wrong way.
You’re really going to repel people. They will not be interested in talking to you because they will see that you are only there on the business side. You just go to make contacts, to grow your list of potential clients and there is nothing that they are going to get from you or even in a relationship.
Always think of meeting people by knowing them, and then simply let them flow naturally from there. You will be amazed how many connections you will make, even with a single good relationship.
So treat those relationships very, very well and build your network tactfully, focus on the person in the first place. If you do well and do everything that I have mentioned in this section, then your development in business is on the right path to success.
Let’s talk quickly about some business development exercises you can put into practice right now.
List three skills that give money on a regular basis and suggest some ideas on how you can strengthen them. Already doing well, because they generate income in your business. How do you go one step further?What can be done to improve the skill? What can you do to find more customers paying for that skill? Think of all the ways you can transform this into more opportunities for your business.
List three areas that make you lose money. These are tasks that are really an expense for your business. The things you do on a regular basis that prevent you from spending time on the other three things that do give money. Look for ways to eliminate them, either through systematization, delegation, subcontracting, contracting, elimination altogether in some cases, but sit down and think of them in a detailed way so that you can eliminate them.
Doing these two exercises will be completely transformational for the development of your business.