Three Parts of Business Success: Vision, Value, And Velocity (Don’t Screw These Up)
When putting together your business plan, focus on getting your vision clear, then identify how to create real, substantial value for your customer, and then figure out how to ramp up the velocity to cash in on the first two steps.
As an entrepreneur, focus on these three areas and you will be a success. Get distracted by anything else and you’re going to lose site of the main thing. Read on to discover how you can create a simple, effective plan with these three steps.
Get very, very clear on the vision of what you wish to accomplish. The more precise, detailed, and complete the vision, the more likely that you’ll bring it to reality.
A big entrepreneurial mistake is trying to be all things to all people. There’s no need to boil the bathtub when you’re brewing a cup of coffee. Define exactly who you are going to serve and exactly how you are going to make their life so much better that they will be compelled to trade cold, hard cash for your innovation. If you know exactly where they live and work, so much better.
Then sum up your vision in 50 words or less and create a seven word value statement.
For example: Fuzed is the only collaboration tool that connects people, information, and ideas so that teams rapidly innovate and synthesize breakthroughs in a time when staying on top of rapid change is becoming almost impossible.
Fuzed: Insight and innovation from ideas and information.
See how this tells the whole story in seconds. Now, you do it for your vision.
If you need help, check out this video overview on how to do it, complete with forms to build your plan.
What value will you bring to them? The more value you can pack into your offering, the more you can charge and the more disruptive will be your innovation.
A big entrepreneurial mistake is not creating enough relevant value. The harsh reality today is that if your offering isn’t disruptive, it’s not going to make much of an impact.
For example, when Apple introduced the iPhone, it was totally disruptive to the cell phone market. And even though many enormous companies have tried to bring to market an iPhone killer, no one has been successful. Sure Android phones from multiple manufacturers have more unit market share, yet Apple reigns supreme in the only measurement that counts with entrepreneurs, revenue and margin. The reason is that Apple brings real value to their customers by making things just work right.
How do you bring real value to your customers so that they refuse to buy from anyone else?
Explore more about identifying and creating value with this article.
Next step is to ramp up the velocity. Without this, the most elegant vision creates no real value. Have answers to these questions:
- How can you create massive amounts of business based on the value that you’ve created when delivered to execute your vision for your customer?
- What processes can you put into place to attract crowds of buyers willing to give you money right now?
- Can you find several very large customers?
- Or can you excite a crowd of people to want what you’ve got?
Creating velocity is where most entrepreneurs get stuck. Sales and marketing don’t always connect with entrepreneurial insight and innovation. Yet the world will never beat a path to your door unless they know where to find you, understand why they should come your way, and drop everything to do it.
Stop tinkering with your vision and value and start finding people who so appreciate your product that they’ll buy it in massive quantities.
Often, entrepreneurs need help with these steps. Use a coach to keep you focused on your vision, value, and velocity. Find a team who can help you create the messaging and systems. Delegate to trusted people to execute where you’re weak.
If you’d like to talk about how to do any of these steps, especially in creating velocity through customer acquisition systems, let’s have a conversation. Check MarksSchedule.com for a mutually acceptable time to talk.