What to start
KNOW YOUR VALUE
Image courtesy of katemilner.com
The received wisdom is to follow what you love to do and that is in part true. If you are going to make a change to start something new, to invest time, energy and resources into your new idea, it should absolutely be about what you love to do.
Something that brings you inner value means you’ll have an inherent curiosity in your chosen area, a natural drive to network and meet like-minded people. You’ll be excited to progress and grow, find out about new developments and trends and you’ll have a contagious enthusiasm about what you’re doing – ALL of which are essential for making a success of a new venture and will give you a real competitive advantage.
However, it's not enough to love what you do when you want to start a successful profitable business – you also have to meet a need or want in others through your idea that people are willing to pay hard cash for.
However, it's not enough to love what you do when you want to start a successful profitable business – you also have to meet a need or want in others through your idea that people are willing to pay hard cash for. This is where making sure you are delivering outer value comes in – how can you apply what you love to do in a way that brings fantastic value to others and makes them want to become not just customers but enthusiastic fans.
When you have a clear sense of the inner and outer value your idea brings it will act as a SUPER FUEL to you and your venture.
When you have a clear sense of the inner and outer value your idea brings it will act as a super fuel to you and your venture. It will keep you getting out of bed every morning and provide a strong sense of direction and conviction. It will pick you up and keep you moving when you meet the inevitable hurdles that every founder faces as its something that you’re fully committed to and know that others benefit from. It will also provide a sense of growth and contribution that we’re looking for in a new start.
When we don’t do this, when we don’t lock into something that drives inner and outer value – we end up flitting between ideas, we don’t commit fully and we’re not able to bring that extra passion and focused energy all new businesses need to get off the ground. Not being clear about our value proposition means our customers won't know why to choose us above the competition or have reason to connect to us in a way that all modern brands need.
KNOWING YOUR VALUE
Taking time to identify and clarify both your inner and outer value is an invaluable exercise and a critical step in the formation of your business that shouldn't be missed. We'll be dedicating a Knowso series to help you discover an idea that truly sparks and delivers that inner value for you and whether it is something that captures the imagination and wallets of your customers. Keep tuned in...
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Is it an idea that truly sparks and delivers that inner value for you and does it capture the imagination AND wallet of your customer?