Bravo! I am really proud of you for taking action to understand how best to build the infrastructure of your business in 2019. Why? I understand you very well and I know the road you have traveled in building your business, and I know that women entrepreneurs sometimes continue to build their airplanes in flight.
If you have come all this way and made it this far, you are doing something right. So, first of all, take the time to congratulate yourself. Entrepreneurship is never easy, which is why my goal is to help make it as easy as possible for every single female entrepreneur in Turkey!
As someone who started her own business many years ago, who is still working on new ventures and who has worked with dozens of women entrepreneurs, I am here to tell you that it doesn't have to be that hard. I have started to see a recurring pattern in the women entrepreneurs I coach that causes them to struggle and I want to share it with you.
The secret is that in order to go forward, sometimes you have to go backwards. You need to land your airplane for maintenance so that you can go to a higher altitude afterwards. This is the biggest "hah ok this is it" part that I want to create in the E-book you will read. It's time to grow your business and get support for it.
By answering the following 5 questions for yourself and your business, you will be on your way to building a stable, profitable and dazzling business model that will benefit you for years to come.
After reading this article, pack your suitcase. You will now be able to have that beach vacation you have been dreaming of!
Your company culture is much more than mission and vision. Yes, they are important too, but you have to know and constantly remind yourself of your raison d'être every time you make a major decision, such as whether to stop working with a client or to let a team member go.
For example, if you are motivated by idealism, take time to think about how you can give something back to the world in a bigger way. I call this strategic payback. You can build a business that makes millions of dollars, but inside you may not feel good because for an idealist, money may not be the biggest goal. Many millionaires and billionaires "retire" for this reason and go into non-profit service or start their own foundations. So if you know yourself well and know that you are highly idealistic, why not build giving back for job satisfaction and success into your company culture from the very beginning?
Branding is another important element of your company culture. Aside from the visuals, colors and messages you present to the world, branding is what people say about you when you are not there. Branding is how other people see you, and it is what best aligns with your ideal customer profile that you want to attract.
If you don't take the time to clearly define and execute your company culture, someone else will do it for you and your business will no longer be your vision but theirs. Trust me, the only person you want creating company culture is YOU, otherwise you may be unhappy feeling that there is no connection between who you really are, what you sell and how your company operates.
I can hear that voice in your head... "But Bahar, I am a tiny one-person company". My reason for writing this article is to help you stop seeing yourself as a solo-entrepreneur. Why? Because great things cannot be done with a "solo mentality" by just staying in your own world and not sharing information. If you want to build a stable, profitable and dazzling business model, play small no more. Now is the time to create a company culture so that people will find a reason to work with you that suits them.
If people don't know who you are, what you offer and how they can work with your company, it will take a very (very, very) long time to build your business.
The secret to being visible is to consistently be where your ideal customer usually hangs out, physically and online. The word that is often overlooked is CONSISTENCY. Don't just try something once and then move on to something else when it doesn't work. Keep trying it for three months and make a decision. True visibility is a perception that builds over time so that your ideal client thinks "I see this woman everywhere". This means you are doing the right thing.
Be really clear about who your ideal client is and get in front of them. Focus on one marketing strategy at a time and measure the results. Allow at least three months before abandoning a strategy.
Here's a formula that works great
Have a one-page marketing plan. Choose marketing actions that you can implement consistently and measure the results. Don't have too many of them, implement them optimally and, of course, consistently. This will first generate interest and then give you the visibility you need to turn that interest into commercial exchange.
Making money, or not making money, can make or break a business. I know this goes without saying, but I'd like to make this important reminder. Now that you have a workable and simple plan on how to be visible to your ideal customer, it's time to sell them exactly what they need.
Have a specific way of accepting money in your business. Do you accept checks, cash, credit cards and/or new payment systems? You'd be surprised how many women I talk to who are struggling to make money because they don't have the right pricing or don't clearly define how they will get paid. Establish a clear pricing and money collection process to close the sale and get paid.
Meanwhile, make sure your sales process is clear. Now that you are visible to your ideal customers, have a clear step that invites them to take action to convert an interested customer from an "interested" to a "buyer".
When I create business process maps for my clients and it comes to sales, I often hear them say, "Oh my gosh, I had no idea I needed to do the sale this way." That makes a big difference. Your bank account will thank you if you take the time to create a step-by-step sales process that you can use again and again.
Think about your ideal customer. Is he or she a "Diamond", "Gold", "Silver" or does he/she want "Copper"? To create a WOW! experience for the customer, you need to know your customer and go one notch above their expectation. If you are targeting a gold customer, offer them a "diamond" approach. They will expect a "gold" experience and will be blown away when you give them more.
On the other hand, if you are targeting a "diamond" customer, you need to offer them an "above diamond" approach or you will not have a happy customer. I know that some businesses are sourcing for copper. All they need to do is to offer their customers a "silver" experience, that will excite them.
Long story short... Find ways for your customers to pick up the phone and call you to say THANK YOU or email you to tell you how you have made an impact in their lives. The best praise I've ever received is when a customer (even though they paid me) sends me a gift to say thank you. Never overlook the way to provide your customers with the best possible experience. Finding new customers requires more effort and money than keeping existing ones happy.
This is normally the easiest question to answer, yet many women get stuck here because;
1. Even if they have someone on their team, they may not trust them enough to take ownership of their work or their competence.
2. Even if they can afford to hire someone, they are not sure who to hire or why they should hire someone to do something they can easily do themselves.
The truth is that you need a dream team that will help you achieve your goals and that fits your company culture. Since you are no longer thinking like a solo-entrepreneur, you can surround yourself with people who are more competent than you in areas that are outside your genius and competence.
The people on your team don't have to be full-time... they can work "as needed", but you need to identify a team you trust. You should have at least a lawyer, an accountant, an assistant and a business strategist to help you focus on the big picture.
Have a trial period with everyone and build mutual trust over time. Hire slow and fire fast. Think about working with project-based contractors and freelancers. Just don't do everything yourself. Doing everything just because you can is the kiss of death for an entrepreneur. You will burn out very quickly!
As your business grows, you can add digital marketing experts, project managers, salespeople, support staff, and other billable people who do the work like you do (and make you money).