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5 Things I’m learning building a business from the ground up

I’m coming off a few weeks, that I wish would have been better. I had to take a step back to reflect on the lessons learned.

Here are 5 quick things I’m learning while building a business:

What services will bring in the most revenue

I’m finding that there are things that people will pay for. Things they might pay for if you package it nicely. As well as things they won’t pay for. This is great for me to know in the long run so that I know where to put the most energy. As well as the most financial resources. It will also help me continue to narrow down my exact target markets.

What business ideas I should be looking into that many businesses aren’t talking about

It’s true that building a business means solving other people’s problems. But what about the problems that people don’t know they have? While doing economy research, I’ve found two major things that are important in business. Talking to both employees and small business owners, the majority don’t care. Others didn’t know it was a problem that needed solving. I’m taking the time to learn more about them. As I predict they will be important to people in about 2-4 more years.

Where I will need the most help

I’ve spent a lot of time evaluating my strengths and weaknesses. I completely understand them both. I’m definitely looking to have people around me that are smarter than me. I don’t fear people knowing more than me. Because I like to constantly learn. So I never stop growing myself. This is a mindset I’ve grown into after years of being in the technology industry. Not being afraid of competition is not something that came easily initially. However, I’ve learned how to use competition to my advantage.

An understanding of each role I’ll need an employee for

Understanding a role gives me an idea of the effort it takes to be in the role. Meaning, this helps me learn to layoff when someone says they need more time. It also allows me to monitor them a little when I feel they are taking too much time. I‘ll be able to know the right questions to ask, without coming off insensitive. I must note it’s never good to claim to fully understand someone else’s specialty. So you do have to give them that respect. But it’s also good to have an idea.

How to create educational career paths for employees

I’ve taken different classes and webinars to help my business. I’ve also attended quite a few events. Some free and some paid. For very specific roles, I’ve started to outline what it would take to educate people in that role. As well as making note of the resources I’ve used, the cost associated and what appeared to be effective. Obviously, the type of educational course will vary from full-time, part-time and contractor. But there definitely will be some educating going on, should I get to hire folks.

No, I don’t think I know everything. But I have a vision for my business and it is very clear. Repair the economy!

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12 replies »

    • Thanks for taking the time to check it out and comment. Very true that we should all continue growing and learning. That’s definitely always my favorite message. Never get comfortable.

    • Thank you for taking the time to read and comment Kate. I tried to make sure I captured what I felt were the most important pieces. Glad it resonated with you. Best wishes on your business.

  1. Listening to people is really important. I think admitting you don’t know everything is a huge step. Knowledge and experience isn’t a threat. It’s an asset and most people don’t realize it. Good post!

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