We all have a dream of making it big and getting our first million. It’s what we start our businesses for and why we spend so much time “in” them.
If you start a business properly you probably developed it Business Plan. This mostly certainly helps maintain the vision and direction of your fledgling business. Some times these plans can span years. However, this doesn’t make them right.
How I Started
Some time ago I started in the same way. I created my Business Plan whilst doing a “Start Your Own Business Course” with the Local Enterprise Office in my home town. Along with my class mates we created it to have order and structure and this enabled us to create our business form, from what was in our heads.
I remember looking at draft ones in the weeks before we started the course and thinking I could never make up something that complex, but I did. We all did. There are advocates and business supports out there ready to provide support to you. They can only do that if you yourself can verbalise and visualise your ideology.
My plan was in black and white and I was steadfast in my mission. I wasn’t initially very organised, I hadn’t a clue what to prioritise. Frankly all of it was important wasn’t it? It’s not like I didn’t need business cards, a website (with regular content on it), regular posts to my social media and of course brain dumps of “How To’s” to share. Let’s not forget creating terms and conditions, setting up an invoicing system of some kind – oh and networking and following up as well.
Why I Changed
My first business plan said I wanted to be known for Social Media Marketing and PR (including Press Releases). I was creating a very diverse and complex format, trying to incorporate as much as possible into my brand to draw awareness. After a year or so of running my business though, I started to feel a little overwhelmed to be honest.
It’s difficult to be everything to everyone. Especially on your own! I was learning from other business owners that it was better to be known for one thing and build on that then try and do everything at once. To this end, I did a survey with my existing clients and after asking them what they felt my brand better represented. I was left in no doubt that they felt I was more Social Media Training than anything else.
So I started my Business Plan again from scratch this time not trying to do everything. I even upped my prices as I felt more confident that I could provide a better service and both have seriously worked to build up my online presence.
What Happened Next
It didn’t take very long from there to build a better model of my business. It was a tough lesson to learn but it was necessary to go through. Since I pivoted, I’ve been able to deliver more of what my audience wanted from me.
With the renewed focus I have been able to target a more relevant audience, create content for them and attend events more relevant too.
Overall it was vital for me to do this. I appreciate I’ll probably have to pivot again as I am now much longer in business and better recognised on a National level. I hope in the next year or two to bring people onboard with me to collaborate or perhaps even employ as I get a larger client base.
It’s scary I won’t lie, changing your dream. I thought I was stepping back a little too much initially but now I have no regrets. It’s much easier to do one thing really well, rather than do too many things averagely. Once you have got that thing really well, then you can always add more on slowly afterwards. That’s what I have learned anyway.
If you need to pivot and aren’t sure how to – I would highly recommend the LEO Mentors. Highly effective, affordable and honest to god nice people. If you want to bounce some ideas with me, you’re welcome to. I’m just at the end of the phone.