Success in Sweatpants

You have taken that big step and started your own solo business. Congratulations!!

Now what?

One of the biggest omissions (perhaps THE biggest) that I see over and over again in the solopreneurial world is the lack of a solid foundation for a business.  All marketing, sales, offerings, communications—everything—come from this solid foundation. Without it, activities are random (chosen according to the latest tweet or recommendation by a friend), communications are vague and unfocused (“If I stay general, then I’ll be able to sell to more people, right?”), and offerings are not created with a clear target in mind (rather, they follow a “build it and they will come” model). The result is sluggish sales, financial struggles, and frustration.

Do not pass GO without knowing the answers to the 4 W’s and the H:

• WHO do I serve? Describe your target market in very specific terms. It is not enough to say you serve professional service providers. It isn’t even enough to say you serve lawyers. When you start out, you need to focus in very tightly. Bankruptcy lawyers, divorce lawyers. Lawyers who serve a very focused market themselves. Get detailed, get specific, get clear.
• WHAT do you offer? This question has two answers. Starting with your detailed “who,” research your target market and gain an understanding of their needs and objectives. Then figure out:  1)  what challenges do you help clients with and what benefits do you provide? and 2) what products and services do you offer?
• WHERE do you find your marketing and make your offers? Where do your prospects gather? Are you marketing locally, regionally, nationally, internationally? Offline or online?
• WHY do you do what you do? The answer to this question is what will keep you going when the going gets rough. Understanding your drive to be in this particular business and serving that particular market will keep you grounded, motivated, and moving forward.
• HOW do you market your business? What are your primary marketing channels? What tactics and tools will you implement to attract the right prospects and acquire the right clients?

This is not necessarily a slam dunk kind of exercise. I think that’s why so many solo business owners don’t go through it. Driving for detail about your target market, for example, can bring up all kinds of worries and doubts. What if I pick the wrong target? What if I am too narrow? There might not be enough prospects, I might not be able to find them, etc. etc. The agida that these questions can bring up is enough to stop looking for answers.

The same is true of the other questions. I see it again and again with my own clients (by the way, MY target market is solo business owners who want to stay solo and get successful…in their sweatpants!); in that first all important module of my solo business coaching program, I see a high percentage of undone homework (this has been a killer week!) and a lot of wavering (I’m not sure about this…). Whatever the reasons or excuses, it really boils down to one thing: resistance. Illogical, unintentional, frustrating resistance.  Very common, and very bad for business!

If you knuckle down to answer the questions above and get uncomfortable or distracted, don’t worry. If you are resisting it, you don’t need to understand the reason why. You just need to stick with it, keep engaging, keep answering. And I promise you this: When you finish answering, you will have that all-important foundation and a much clearer way forward for your business!