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Show Objectives - The Why
In this show you will get to know the blueprint of creating a venture. In that You will come to know the 4 things to take into consideration when you are starting a venture. Those 4 things are; Why are you into that venture; What you are trying to accomplish from that venture; What you need to become to get success in that venture and how to succeed in that venture.
Key Issues - Owner Perspective:
The key issues are lack of clarity; Purpose and Vision. Without that getting into a venture is risky.
What You Need to Know - The What
So you need to know exactly what you are trying to accomplish; Then you need to make a strategy; then action plan; and then a plan of alternate route.
What You Need to Do - The How
Here is a 4 step method to accomplish that.
Why are you trying to accomplish?
This portion needs to be very clear. Most people, when they start their venture they create it for the following 4 reasons:
1) Running away from something.
2) leaning towards something.
3) Love for specific work
If you are running away from something, you need to sit and answer why you are running away. Is it due to pain, frustration, or lack of clarity?
You will be in a desperate state of life, and in the desperation state, setting up a venture is the ugliest thing you can do.
So, clarifying your values and the outcome you are looking for is of utmost importance.
Let me Illustrate through my personal example:
My life is a story of overcoming obstacles. A few obstacles that I had to overcome were the following:
1) Confused childhood without having a proper mentorship.
2) A wrong paradigm of success (Lot of money).
3) Wrong paradigm towards relationship.
4) Wrong paradigm towards the profession.
5) Wrong paradigm towards money
Most of the startups that form have come out of pain and some out of inspiration.
The entrepreneur sees pain either in their personal life or somewhere in the close circle. They see the pain and cannot find a solution, and that's why the idea of starting a venture pops in.
Money is one of the outcomes. If money is the only reason you get into a business, you will manipulate people or get tired of the work involved.
It would be best if you had a passion for that work.
What Are you trying to Accomplish?
You are trying to accomplish the following:
Name & Fame
Calling your own shots
Making a difference in other people's life
Removing confusion from their life.
In my experience of mentoring & Coaching Entrepreneurs, people want to start their business to have a lifestyle and a lot of money.
But when they start the business, they realize that this is the only thing they will never get.
Who you need to become
I need to become a system creator.
The error people make when they start a venture is in trying to do everything alone.
Second Error they do is the delegate the things they should do and do the things they should delegate
Eg: Technical Work can be outsourced (Like creating a website, finding the digital marketing avenues)
Marketing system (You have to invest in the tools, some you will need to learn it yourself and somewhere you will need to collaborate)
Understanding the difference between marketing and sales
Recruiting system (Never Delegate recruitment)
Value addition system to keep your performers in the organization
It would help if you formed an organization
How to get started?
All the planning but not getting started are the two major challenges most of us face in our lives.
One group of people are trailblazers: They are history creators. If you are one of them, you might have known by now.
The second category of people doesn't have that strong a risk-taking capacity. They are like me. Then, in that case, you need to do systematic planning.
1) Find a mentor & a Coach ( Understand the difference between the two and where it can help)
2) Start with an apprenticeship (Be part of a Paid Master Mind and learn from others)
3) Take Baby steps
4) Learn Marketing and Sales ( You Can't outsource this in the initial stage)
5) Build your Brand ( Create an image of subject matter expert)
6) Project yourself as a thought leader
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