We will look at areas that will help you evaluate the state of your business, prior to launching or prior to pivoting.
4 Businesses that Need Small Guy on Top
There are four types of businesses that need the materials on our website:
- Startup (you have a new idea and want to make sure it starts right)
- The Struggling One-man Show (maybe you are offering services, a product, or affiliate products and services)
- The Stale SME (in business, but stuck – revenue ceiling or unidentifiable chaos)
- The Artist (any kind – visual, musician, video, etc…)
You may be a startup, but you want to ensure your success. You want to do things right from the beginning. You need these materials and our website.
Perhaps you are a struggling business with only you, the lone wolf. You are running the show all by yourself. You might have been in business for 2 years, but you are still not making it work. Your offers may even include such things as SEO, a blog, or affiliate products and services. This material at Small Guy on Top is for you.
You may be running a Stale SME (Small to Medium sized Enterprise), where you have hit a glass ceiling in revenue or you may be experiencing a general and unidentifiable chaos.This material is for you as well, even if you have been in business for 7 years. You need to take on the attitude of a startup. For the rest of this article I will be addressing this mentality, but understand that it is intended for all of those who are in the categories mentioned above.
The Startup Mentality for All 4 Types of Businesses
Everyone in any of these categories should take on the view that their business is a startup. That means giving yourself a fresh start. It means there are some things you can do as a startup:
- clean house
- throw out existing ideas
- change niche
- change products/services
- PIVOT… start again!
Although many recommend creating a business plan before proceeding into any business venture, it is unnecessary in most cases at the beginning. That is not to say that you should never create one, but there are many businesses that simply would not benefit from it. The state of your business can be communicated through a simpler process I will describe in this article and go into greater depth in following articles.
In order to determine whether a business plan is right for your business you need to understand its purpose.
- Internal use as a formal guide
- External use for presentation on the reason for being of your company
As a Formal Guide
The business plan serves as a tool to communicate values across the whole business. It keeps all decisions focused on the vision and mission. The plan can serve as a measurement, since the business can determine how well they are performing by meeting this plan. So it serves as a goal or a set of goals.
As Presentation of Reason for Being
If you need to present a formal synopsis of what your business is about, then the business plan fills that role. This is especially useful with external companies and individuals. These may include potential vendors and suppliers, or investors. The business plan is a concrete commitment to a specific vision and plan. Others can trust that you are abiding by it, by comparing to it how you conduct business and where you are going with your operations.
4 Areas to Examine the State of Your Business
It is said , “An ounce of prevention is worth a pound of cure.” It means that it is cheaper to put in some time to prevent something from happening than to put in a lot of time after it has happened to fix it. That is why you should go through these four areas ahead of starting any venture.
I will go into each of these in greater detail in following articles.
Reason for the First Steps
The reason you should go through these first steps is that it helps you take account of what you have at your disposal to start your venture. As a result, you understand better what you still need. The process also inspires you to reflect on what you believe. It helps you to begin constructing the story of your business in its infant form. This story develops with time as your company matures. It becomes extremely important internally and externally. It will bind the company together among the personnel and it will inform and empower your branding and marketing. In short, it establishes a foundation for the state of your business.