How to Start Building the Foundations of Your Business
Aug 01, 2022Every business has to start somewhere. For some businesses, that means starting with the foundations and building from there. This can be a complex process, but getting your operations in order is important before you start taking on more customers and scaling your business.
In this article, we will discuss some tips for beginning to build the foundations of your business. We will also talk about how to set up your operations so that you can run your business smoothly!
If you are just starting out, it is essential to think about the foundations of your business. What does your business need in order to function?
Even though you have an online business, you need to think about software, your workspace, and more!
You will also need to think about your operations. How will you handle customer service? How will you deliver your services or products? What are your onboarding processes?
Once you have a good understanding of the foundations of your business, you can start to build out your operations.
Building your business's foundations can seem daunting, but it doesn't have to be! By taking things one step at a time and planning ahead, you can set yourself up for long-term success.
There are 3 core functions of any business, no matter the size:
1. Operations
2. Sales/Marketing
3. Financials
If you have a plan and foundations for each one of these components, you will have a much better chance of succeeding than if you don't.
Here is a brief overview of each:
1. Operations: This is the "how" your business runs day-to-day. Other things to think about within operations are Product/Service Creation. It's important to ensure that you have a well-defined product or service that meets a need or want of your target market. Otherwise, you'll have a hard time selling anything.
It would help if you also had Client Experience, Product Service Delivery, and more. All of these things need to be well thought out and planned in order for your business to run smoothly.
2. Sales/Marketing: This is how you get customers and grow your business. You need to have a plan for acquiring new customers, whether that's through online marketing, offline marketing, or a combination of both. You also need to have a plan for retention, or how you keep your customers coming back.
3. Financial: Do you have accounting, budgeting, and reporting routines in place? How are you checking expenses and income?
One of my passions is making things fun when able and that is why I am so excited that Scott (my husband) and I are truly building something amazing! We have already created a program that teaches experts how to write a book and start a podcast, along with lots of one on one support, but we've always known how important it is for entrepreneurs who have been in business for 0-10+ years to have the foundations and operations of their business built out.
I am truly excited, as we officially have our first founding course members who will begin in September and will be building out the foundations step by step in their business. In our Expert Foundations course. The other exciting thing is when we open the doors to our high-level year-long mastermind, Expert Authority, Expert Foundations will be included! So you have everything you need, no matter where you're at in your business.
If you are interested in learning more, you can join the waitlist by visiting: https://www.thetimetogrow.com/expert-foundations
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