What I tell new businesses

This is what I tell new businesses.

Starting a business doesn’t require mountains of money or even the perfect idea right out of the gate. It starts with passion and the determination to turn that passion into a sustainable business. Forget the idea that you need to identify a specific niche market. Success doesn’t always come from finding a gap in the market, but from doing something you love and doing it well. Focus on your strengths and outsource tasks you dislike keeping your energy aligned with what drives you.

Once you’ve locked into your passion, execution is the next step. Start simple, whether that’s creating a blog, launching a social media page, or recording your first podcast. Keep things small and manageable at first, refining as you go. As you gather momentum, experiment with different revenue streams. Don't be boxed into a traditional hourly rate. Look at options like subscriptions or performance-based models.

The key is to develop and learn with each step.

More than just profits, finding purpose in your business gives it longevity. Purpose-driven businesses are more resilient, with a mission that not only energizes the team but also attracts customers. Start by identifying a problem that matters to you or the world around you. Align your business goals and strategy to address that problem, and build a team that shares your mission. Purpose-driven work is easier to manage because it resonates deeply with everyone involved.

Winning in business requires playing the long game. It's about delayed gratification—building relationships and value first, focusing on the long-term payoff rather than chasing immediate results. Persistence, patience, and taking calculated risks are essential. Stick to your vision even when competitors falter, and prioritize delivering genuine value to your customers.

Failure is inevitable, but how you handle it defines your success. Learn to lose gracefully. Don’t be overly attached to material successes or failures. Flexibility and resilience will help you bounce back faster. Ego-free growth is key; don’t let pride impede learning from mistakes or others.

Instead of rigid business plans, consider using a mind map. It’s a more flexible way to visualize your business’s potential directions. Start with what you love at the center, then branch out into marketing, operations, and revenue models. Mind maps allow for creative, adaptive thinking, unlike traditional plans that can sometimes box you in.

A co-founder can bring balance to your business, but it’s crucial to find someone whose skills complement yours and who aligns with your moral code. Identify what you need help with and manifest the right person through your network, social media, or professional groups.

For sales, the key is understanding your customer. Sell the benefits—what your product or service will do for them—rather than just its features. Build relationships and trust, rather than pushing for a quick sale.

Marketing is the art of telling your story and building awareness. Start by establishing a brand that resonates with your target audience. Then, experiment with unique marketing tactics to stand out. Finally, use systems to ensure consistency—whether it’s email marketing, social media, or events.

Finally, public relations can give your business credibility and visibility. Be strategic in your efforts, targeting the right platforms for your audience, and make it easy for journalists to feature you by giving them all the information they need to tell your story.