The makeup of any entrepreneurial business
needs to be well designed and offer a firm yet flexible framework that can with
stand the stress of the small business market but also be portable.
The main pillar is yourself. The Entrepreneur.
You need to know yourself well. Understand your strengths, your skills, your
abilities to do the job. Also, almost as important is to know what you are
unable to do and what you are poor at doing. This gives rise to the second
pillar.
Your team. This is a group of people,
services and companies that offer you the support to give you the freedom to do
what you do best. Search these people out and build a solid relationship with
them.
To start your framework by connecting the
pillars like a ladder we begin by using the first rule of Entrepreneurship.
Niche thyself. Create a niche in the market for you and what you want to do. Begin
to speak about this area, write about it. Start a blog, offer to speak at
functions. Get people to know what you do and who you are.
The second rung on the ladder is our
finances. A solid financial plan with cash flow forecasts and management reporting
to keep us in the loop on information about current and future financial
situations.
We move to our customers for the next rung
and begin to understand who, why, what and when our customers are. The more we
learn from them the better we can serve them.
Also begin to understand your suppliers.
Seek out and build solid relationships with them. Create those important
payment terms and build a sense of team and trust with them.
Now we can begin to market. We know what we
do, who we do it with and we now have a way to offer authentic marketing. Build
a series of campaigns that follow the sales cycle of Inform, Educate and Sell.
The final rung on our ladder is the
internal processes and procedures. Every business needs a set of rules to operate
with. From the smallest function through to the yearend processes, they should all
be defined and written down. You now have a solid flexible framework for your
business, just add product.