Beyond Business Podcast Ep 13

Episode 13

What to prioritise when your business is new

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EPISODE SUMMARY

Have you ever had that lightbulb moment of a business idea that lights you up, only to be stopped in your tracks by the question of where to begin? Starting out in your own business can be both exciting and daunting. Overwhelm can be a common companion in the early days.

In this episode I offer up a step by step framework that you can use to guide simple, sustainable action that starts small and allows you to grow from there. It helps to take you from initial idea to a fully fledged business in a way that moves you out of your comfort zone by just he right amount.

This strategic approach is designed to align the actions you take with your motivation for starting your business in the first place - whether that's achieving your ideal work-life blend or contributing to a larger scale issue in your community and beyond.

I break down the foundational stages of creating a small, sustainable business or service, by taking actions that help lay the foundations for the longer term. Using an iterative approach, the aim is to nurture confidence and gather information through a series of cycles to help grow and nurture your business in a way that feels good.

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EPISODE TRANSCRIPTION

00:03 - Debbie (Host)

Welcome to Beyond Business the podcast, the show for impact-driven egocreneurs who want to be part of a bigger change and make a difference that reaches beyond your business alone. Hello, and a very warm welcome to this week's episode of the Beyond Business podcast. This week we are going to be diving in and taking a look at the framework that I use with clients at all stages of business, but today we're going to be focusing in on those early days where you have an idea, you know roughly what your business will look like, what you want from it, but at the same time, you're maybe feeling slightly overwhelmed as to where to begin, what to do next, what to prioritise, what to focus on and how to get going with taking some action and feeling like you're making progress when, yeah, it just feels like there's an endless list of possibilities and things that you could potentially do. I know that for some people, starting a business can be a long time coming. I know that for me, there had been this like ongoing niggle inside for an awfully long time, and that might be the case for you too. But often it's like then things happen very quickly. I think most of us can pinpoint some sort of light bulb moment or a life event where suddenly things take shape very quickly, and so it's really hard to know what to focus on in order to support you in going from that one single idea or that light bulb moment to having an offering that will make up a fully fledged, that will lead to, let's say, will lead to a fully fledged business.

02:09

So I thought I'd put together this podcast episode as a bit of a quick start guide, because, although you by no means need to map out everything and have a long term in-depth plan in place, I do think that at this stage, it's worth pausing and mapping out a few of the basics first and using that as the framework to help you get going and to support you in taking action and understand why you're doing the things that you are, because when you're able to take that action in a way that feels, you know, as easeful let's say as easeful as possible then that is the place where you can hit that growth edge, let's say, and learn by doing so. What we want to come away with is a tangible plan for a set of actions for the short term that you just about push you outside your comfort zone and no more, but they don't push you so far out of it that you then need to completely stop and take a break and, yeah, just put you off going further. So that is the plan we want to get you a framework that you can map out and support you in taking meaningful, tangible actions. So, like I said, the framework that I'm going to run through is the same one that I use with more established business owners as well, and so it really applies at any stage of business, because I like to think of the journey of growing a business as a cyclical one, one that continually evolves and will change in some ways, sometimes in small ways and sometimes in bigger ways. But I look to nature, I think for inspiration, the inspiration, let's say, behind this model, the inspiration, let's say, behind this model, and I think of planting a seed.

04:31

So when we plant a seed, the first time it's something small. We put it in in the ground where, you know, often no one can see it, and that's the stage where this idea is sort of brewing inside of us. And then, after several cycles of the seasons, and the seed will naturally sprout and grow and evolve until it eventually becomes this grand, flourishing tree, let's say. And so when we think of our business in this way. Like I said, we can begin with this idea and nurture it and cultivate it and allow it to sprout and grow and flourish, and the idea is that we're putting in enough effort, like tending to it. You know the way we would water a seed and put it in fertile soil. We're putting in enough, but then letting our business, like allowing enough space for things to emerge and creativity to bloom and blossom as well, um, so that the, the framework is based on that cyclical model and there are four stages to the cycle, with something at the heart of it all, and that is the why behind your business. So that's where we shall begin today.

05:53

So why is it that you're starting this business in the first place? And that doesn't have to be a big grand statement, nor does it have to be at the scale of saving the world, like it definitely can be. But for you, it's really useful to spend some time thinking about why this business is important to you and what you want to get out of it. And, on a personal scale, that might look like thinking about the sort of hours that you might like to work or the times of day that you would like to work in, or the type of people that you want to work on or work with sorry, um. Or it can be on a much larger scale, like a problem that you see in your community that you want to contribute to solving, or even a big global challenge that you're really passionate about and feel like you have the impetus and wherewithal to make a difference towards. And either way, I think that doing like spending this time thinking about the why right from the outset lays the foundations for supporting you in decisions that come further down the line. And like knowing that from the outset means that you can assess decisions against some criteria. Let's say so.

07:23

For example, um, if, many years ago I pre-kids, I have to say I started an artisan granola business, and one of the main places that were, like one of the main places that granola was typically sold, was in farmers markets, and so it hadn't really I hadn't really properly thought about it from the start that you know, in order to sell at farmers markets, I needed to be available at weekends, which, with kids, just didn't work out. So it's things like that, you know, if you're, if you're making an artisan product and want to sell at farmers markets? Are you happy to work weekends? Or, if you're creating a service, then is the service that you're going to create you making sure that that is doable and manageable within the hours that you have available to you just now? And also, like, does it really solve the problem that you you want to contribute to? Like, is it really in line with, um, the the bigger why of your business?

08:36

So, once we have an idea of what lies at the core of your business, then we move into this cyclical model that I was talking about, and I'm going to outline each of those four stages in turn in a bit more depth, but I'll start off by giving you a brief outline of them all. First of all, the first stage of the cycle I like to call create, and this is where you're creating an offer or a service or, sorry, a product or a service, so like a small scale offer of some sort that will get you going and that you can begin with. The second, then, is around connection, and this is thinking about who might benefit from this offer, who it's suitable for, why it's a good fit for them and, yeah, thinking of ways that you can connect with these people directly. The third stage, then, is all about inviting people in, so inviting them to work with you or try, you have a go at the thing that you are creating. And then the fourth stage is about integrating, and this is mainly around gathering feedback that will then feed into the next iteration of your offer, and so the cycle continues. So you can see that, with that model, that framework, then we can afford to take super small, we can afford to keep things super small scale in the beginning to allow us to get through one entire iteration of that cycle. And then we go again, and that's how, then, each time, things get likely clearer. That's how then, each time things get likely clearer, more focused, um, um, like a more, a more solid, well-defined offering, but knowing that it will take several iterations of the cycle in order to do so. So I really like this because for me it it takes enough pressure off those early stages that I can to help me get going with.

11:00

Like I said, I'm all about taking small scale, sustainable actions. So let's take a closer look at each of these four stages in turn. Number one, like I said, is create, and this is creating the thing that you're going to sell, whether that's a product or a service, and I say sell, but it can be offer up in these early stages and, like I said, my best advice with this is to start super simple. So if it's a service, for example, what is the smallest, most simple version of what you want to do? So let me think of an example. If you're a copywriter, for example, can you offer a one-off standalone session that helps someone write a single blog post, let's say, or even a social media post, like something that can be done within an hour, where they can really take away something that's useful and valuable and will help them, but also that is like small enough for you that it's a bit of an experiment, and the reason that I suggest starting simple is firstly, to give yourself the the time and the headspace, let's say, to get used to the logistics and the admin that go alongside, like creating the thing and and making an offer to someone to see, like because this it allows you, like doing it simple to begins with, it allows you to see which bits of the process work well and which don't, without having to get tied up in offering lots of different things all at the same time.

12:57

If things are simple and small scale, then it's really easy to go back and change the things that aren't working or to tweak the things that are. But I think the second part of this is is really important as well. It's to give you the chance to get your confidence up and test out whether this is actually something you enjoy doing or not. I think it's so much easier to feel confident and confident if it's something that we also enjoy. So you know quite often like I think it can be surprising sometimes where the idea of something in our head sounds great, but then, once we actually do it, it's like the ultimate litmus test. And then, lastly, the other, like the last reason why I suggest starting small and simple is to test out pricing points. So sometimes it's hard to gauge how to price things when we're starting out, because we aren't entirely sure how much of our time and energy will be taken up in creating and delivering this thing. And so if you start small, then it means that small and simple and, let's say, it's easy to switch up the pricing, whereas if you've created like a whole suite of offers and put together all the things right from the outside outside then it's much harder to change the pricing later on. So, yeah, that covers create.

14:41

I think the next stage of the cycle, then, is I like to call it connect. It's all about connection, so connecting with the people who will benefit from the thing that you're offering and for some business owners, you may already have a very definite idea of who this person is from the like, from articulating your why in the beginning. So, for example, if you're a mum and a big part of your why is in supporting other mums, then it might seem like a really natural fit that you offer your product or services to mums, because no doubt you will have created something that benefits them. But even if the person isn't a big part of your why, it may still be obvious from the product or service you create. So, for example, if you, let's say, you're a yoga practitioner and you want to run in-person kids yoga class, then it becomes apparent very quickly that the people that you want to connect with are kids and parents in your local area. But I think for some businesses especially if you're going to be working exclusively online or mainly online, let's say, then the people who want to support may be less obvious to you. Like there might you might not have a ready-built community of these people, and so it may require a little bit more thought. But even in this case, when it comes to finding like at least one person who you can offer to in this first iteration of the cycle, then I really encourage you to start close to home, or as close as possible with people you already know, and and then, after that, you might want to look for you know, larger groups of people or look for hubs where people will be looking out for products or services like yours. So maybe let's go back to the kids' yoga. Maybe, for the first iteration, you run a taster class with some parents you already know, and then, in the next stage, you could expand this to approaching local schools or putting up flyers in your town or joining some online groups that are built for local parents. But, as I say, the whole point in this, this first iteration of the cycle, is to start small, and so often the easiest thing to do is get connecting with people we already know. So that's connect.

17:42

Then the next stage of the cycle is invite, and I find that if things are going to start feeling sticky or uncomfortable or it feels like there is a block of some sort in your way, then it's usually at this stage, because this is the stage that is very akin to selling, let's say, and selling selling our business, I think, but especially as a solopreneur, it feels like our. We are very entwined with our business and so, although we're selling a product or a service, it can feel like we're selling ourselves, and I know that this isn't something that comes naturally to many of us. It can bring up a lot of uncomfortable feelings and uncertainty around getting more visible and often like for really good reasons. I definitely do not like to dismiss these as unfounded and I really care about supporting people through these. While acknowledging all that's there, I am not a person who advocates for feeling the fear and doing it anyway. So if this is you, then please be gentle and kind with yourself and like take things super slow. Like I said, we're aiming to edge just enough outside of that comfort zone and no more. So when it comes to inviting, there are ways to start easily and small and build from there, and if it helps to get you going, then you don't have to charge for the thing that you're offering the first time around.

19:34

I like to think of pricing as an exchange of value. So, rather than needing to charge for your service and you know there be a monetary exchange, you can think of the exchange in other ways and articulate the value that you, as the business owner, receive and you know from you at this early stage. Maybe that is like simply the experience or the ability to gather feedback. Um, so, let's say, if you're a product-based business, then this stage is quite straightforward. I guess the part is that you invite people to try the thing that you have created. If you're offering a service, then I think at this point it's quite useful to have some sort of information sheet or flyer, like enough that you can outline to the person that you're offering this, to what it is that you're offering this, to what it is that you're offering them and why it might be helpful for them, and also what it is that you want in exchange.

20:51

And I think that for so many people, the tendency at this stage is to want to dive in to having like creating a business name and a logo. But please only do this if it helps you feel more comfortable and more able to take action. It's not necessary at this stage. I know so many businesses that still, you know, instead of having a website, will use a Google Doc as a sales page, and there'll be plenty of time to spend on you know, really concrete, solid, eye-catching brand further down the line, when you have so much more of an idea of what your brand is all about. But for now, you don't need a website. You don't need a social media. You know you might like to have it, but just having at least some, some outline to pass on to someone as an information sheet is really helpful, and canva is a really great tool for this. And then the other thing you need is, if you are charging for the service, a way for people to pay you. So there's lots of tools, paypal being one of them.

22:05

So that's in the invite stage, and that brings us on to the final stage, which is integrate, and this is all about integrating the learnings that you've picked up along the way. So this assumes that you have. You've created something, you have found someone to offer it to, you've invited them in and you've delivered the service, and now you are gathering feedback. So feedback from your customers at this stage is really helpful in deciding what to offer next, and you may also be able to use it, with their permission, of course, for testimonials as well. That might help in the next stage and especially when you're starting to offer out to people that you don't know and who may not be so familiar with your work.

22:56

But in this stage it's also worth checking in with yourself here. How do you feel after going through this entire cycle? What bits worked for you and felt repeatable and good and comfortable, and what bits just didn't work out as you expected or didn't feel good or didn't feel effective? And then all of this feeds back into what you offer next time around and you can get going with the cycle all over again. So there you have it four stages for when you're just starting out in your business. The first is to create, where you put together a small scale offer of some sort. The second is thinking about who this might be suitable for and why it would be a good fit for them. The third is inviting them to work with you or inviting them to try it out for some, an exchange of some sort. And then the fourth stage is about gathering feedback and integrating and, yeah, putting it back into the next iteration of your offer and continuing that cycle.

24:03

So I hope that that's been a helpful outline for you, and I have a tool in in development that will help you map this out on one page. So if you are interested in getting your hands on that or having a copy, please send me a message and I'll be super happy to share. And if you're listening and have any other questions or can't quite see how this applies to your business, then please do get in touch as well, and I'll be really happy to help get you going. And until that, I shall see you next time. Bye for now. Thank you so much for listening to this episode of beyond business. If you've loved what you've heard, I would be incredibly grateful if you could rate and review the podcast so that together we can create a global ecosystem of change makers, pioneering business as a force for good. Until then, I look forward to speaking to you in the next episode.