You need to understand that having a skill or products to sell is one thing. You can have a skill or products, yet no business. Business begins when you begin to think in terms of structure, scalability and sustainability. So, let’s talk about the transition – skill to business.
Business begins when you start to think about how to multiply your efforts in order to scale up the results (impact, reputation & revenue). And the moment you begin to think about all of these, they force you to start working with people more than you work with tools.
Of course, it’s always good to have sufficient technical skills before saying you want to have a business. It always begins with being skillful at something or a group of things, then having people who work with you on those things so that you can begin to strengthen the public image of what you do while replicating yourself in those working with you. At this stage, you’re no longer responsible for the work, but you’re responsible for those doing the work.
Now, let me be vulnerable here! This is never a smooth transition. Trust me. A lot of people (including me) would rather feel more secure and safe being responsible for the work and just getting our heads buried in the work, than to look for worthy hands to commit the work to.
But who says we have to feel safe? It’s never about feeling safe, but about doing the needful. We all have been called to leadership. And the moment you begin to display some exceptional qualities in something, whether you’re prepared or not, life will force you into leadership.
Now, here’s the strongest part! Whether you feel safe or not, as long as you remain the person who does all the work, it can never scale up. Why? There’s so much you can do in a day. There’s a limit to the projects you can take even if you’re the best in the world. You are limited in yourself. So, if you want to grow into something bigger than yourself, then you must be ready to take up that leadership gauntlet. By doing so, you want to start learning how to build proper processes, systems and structure around your work. If you need to learn more about this, reach out to me.
Now, as a service provider or someone with chains of products, you need to know your high-selling services/products and the low-selling ones. For instance, you have a target of N1,000,000 as revenue in a month and the least of your services/products is just N10,000. How many products would you need to sell in a month to realize 1M? That’s 100 units. What if your highest is N100,000? That means you only need to sell 10 units in a month?.
Another question! Can you alone handle 100 units of N10K products/services in a month without breaking down or having other important areas of your life grossly affected? Ask yourself! What about the 10 units of N100K products/services? Can you handle them alone? You need to be sincere with all these answers.
Now, in the course of marketing and showcasing your works/products, if all you showcase is the N10K products/services, you will always get only N10K customers. Because they are the only group of people you’re communicating to. No one will have any tangible reason to demand from you, what they haven’t seen you do before.
So, do you really want to grow your business? Have you been asking yourself the right questions? Have you been actually making the right changes and adjustments? The answers will determine if 2023 will really be a better year or not.
I remain your BrandCore Strategist