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Starting A Small Business?

The Golden Circle, Simon SinekPhoto credit: createyourperfectbusiness.co.uk

Starting a small business are you or hoping to?

Still thinking about your idea?

Well I want to share a few things I have learned along the way on my travels about starting a  business over the course of this site and share useful information from others I have encountered along the way.

Mentors are everywhere for you to learn from.

From what I can see, many people seem to want to start out on their venture the wrong way round.

They first think product or service, then throw money at marketing in the hope someone will buy, then get disappointed and give up.

Let me tell you I have done this several times already.

I mentioned in my about me page, how I have started several online businesses and one off line one. I also mentioned how really, I didn't get on very well with any of them, I tried and failed (you can read in my about me page actually how I feel about the word failure).

Aside from not choosing the right business model for me or the right subject area the other glaring obvious mistake I made was not being crystal clear as to why I ever wanted to start a business in the first place nor did I pay any heed to who I wanted to serve, or actually how I wanted to serve them.

This is absolutely crucial to get right in the beginning. I can't emphasise that enough, WHY are you doing it?

Read on I think you might find this premise interesting because

When you know everything will flow

Let me share with you someone who is an expert regarding this subject of why in business.

Starting A Small Business - Why?

Simon Sinek is a modern day thought leader, he has written several books, he is a consultant and very famous for having spoken at the TED conference about the subject of why be in business.

The premise of the video is when discussing business, many large companies get their priorities wrong and wonder why they cannot obtain loyalty to their brand.

The lessons he provides could equally be relatable to any one starting a small business of any type and size, anywhere in the world.

His most famous quote from the book he wrote about this subject is:

People don't buy what you do, they buy why you do it

If you think about that for a while it will make perfect sense to you

Starting A Small Business - The Golden Circle

The photograph on this page is of what he terms as his Golden Circle.

What it means is, when companies do business they start with the outer rings and what they do and how they do it.

If you begin with why you do it, it will appeal to your customers on a more personal level. 

He talks about how if you build your business using the outer ring of the circle you will speak to customers from a less personal point of view but if you work from the inside of the circle outwards you will talk to them from a more feeling point of view and you have a much greater chance of having their loyalty because, as we said before:

People don't buy what you do they buy why you do it

From a sales point of view, he argues human behaviour is influenced in only 2 ways.

Either we are inspired or we are manipulated into buying, and business make decisions about their products or services in this way. 

They are driving their business and we are buying  by price, promotion, fear, aspiration, peer pressure or novelty and this creates for them short term gains but longer term losses.

If a business is driven by the why then it creates loyalty over the longer term.

Just think about the brands you are loyal to and why.

Often it is because you like how they do things.

So the challenge for you is to find your why and work from there, because the ultimate goal of a business is to find people who believe in what you believe in and this is often referred to as finding your tribe.

For more information about Simon Sinek and his work take a look at his website. 

He has written a couple more books and been a popular speaker at some more Ted Talks.

I hope you find some useful insights on your journey to starting a small business.

Why? - TED Talk By Simon Sinek

A Final Thought

If you are starting a small business for these reasons then you will understand now while it may all feel wrong...

  • Family pressure - you are expected to be in business because it is what your family "does"
  • You think you ought to because you are out of college and graduated with a business degree
  • You have been made redundant and it's what people do with a sudden influx  of cash
  • You are trying to replace a job you hate

The best reason of all for starting is because...

You feel born to do it and it fits you like a glove

If it doesn't and you feel stressed, resentful and feel like going back to a job because it is easier then perhaps you should!

But before you do, you might also want to take a step back and look at how you are doing things as well in addition to why you are doing them

Why you do something and how you do something  are a key combination 

for success when starting a small business so don't give up just yet.

You just might need to fine tune things and create a better fit around who you are and tailor that glove with a bit more precision.

But you can do, you just need to give it some  deep thought and ask yourself the right questions.