There are so many ways and ideas to consider when building your business. But every business is different. There is no specific formula that can be adopted that will guarantee success. However, there is a process that can and must be followed if you are to increase the odds of being successful. Here is the process, and the order in which the process must be undertaken;
- Vision - A very clearly defined vision
- Team - The best people to do the job of executing the vision
- Product (Proposition) - A unique and proprietary proposition
- Market - An easy path to a large enough market
- Business (Model) - a model that is repeatable and executable
- Culture in which everyone thrives
The above six form the propitious cycle where a strong Vision attracts a strong Team, which in turn develops a unique Proposition or Product that will gain Market share through an appropriate Business Model that will lead to a Culture of success.
A weak Vision will have a disconnected and ineffective Team that will result in a weak product with lagging Market share and a poor performing business model leading ultimately to a Culture of failure.
Chat more in a future blog.