FBH #001: How to Launch a Profitable Business

The #1 reason why most people find it difficult to start a new business or begin a new project is they do not know what steps to take to reach their desired goal. They haven’t mastered the art of bringing ideas to life

The thought of starting can indeed be overwhelming sometimes so much that it scares them away,

I want to teach you 5 different steps  to “break down ideas (deconstruct)” and eventually get started with them

Fulfilling your dreams.

Step 1: Determine your Objective 

Firstly, this guide is not meant to be cliche. “Write down your objectives”. “Vision is everything!”. I know you’ve heard this before. The truth is that an objective helps you see where to focus your efforts.

Sometimes it’s ok to refine your objective as you go along your journey but putting something specific down before you start is truly a must-do

The key to writing an objective is to use an action verb that describes the result you intend to accomplish. You can use action verbs such as build, learn, buy, run, and start, and then state the end result you have in mind.

For example, let’s say you’ve harbored the thought of starting your own skincare brand – Your objective and goal become: Start a skincare business

Step 2: Deconstruct  your Objective 

The idea here is to take apart piece by piece and examine each key components that make up your objective.

For example, just as a couch consists of the frame, springs, padding, and covering, your objective consists of multiple key components that if well put together and achieved as single pieces will ultimately lead to the finished goal

Resist the urge to overlook this step with the thought that you already know it. Focus on finding and breaking down every key component that makes up your objective

Some guiding questions:

  • What are the necessary parts that make this up?
  • How can I group the parts into subcategories?
  • What are the steps in the process of each part?

The goal here is to break down each component until you have one thing to focus on. Simplifying your goal into subcategories will make it less overwhelming and also help you see certain components that can function simultaneously.

For our example, deconstructing the objective to “Start a skincare business” could look like this

Main Category (Business Brief)

  • Working on a business plan
  • Conducting market research/feedback
  • Getting some startup funds
  • Business Registration

Sub Category 1 (Business Identity Creation)

  • Logo development
  • Visual brand assets
  • Brand handbook
  • Website development
  • Getting a team
  • Business Registration

Sub Category 2 (Business Launch)

  • Online positioning
  • Sales Marketing
  • User Engagements
  • Funnel Distribution

Step 3: Research each component

Since we have our objective broken down into smaller components that are now achievable, what we can do is fill in the knowledge gap through research, analysis, and exploration

Research is the most valuable tool to help us understand the complexities of our project, disapprove the lies, uphold the truth and create knowledge that is reliable and authentic.

With thorough research, you will in no small way develop your understanding and enhances your decision-making capabilities.

4 ways you can research your project:

  • Find an expert with experience in that area of interest
  • Search online for “How to” videos and texts on the individual component that makes up your objective e.g “How to [insert component here]”
  • Use discussion forums on the subject area [skin care business Facebook groups]
  • Read books on the particular topic [skin care business]

Step 4: Visualize your successful objective

Visualization is all about generating a mental picture that helps you achieve your goals. In some cases, it serves as motivation. In others, it allows you to relieve your anxiety and increase your focus. – Jayson DeMers

We apply visualization here to motivate and help us build confidence by rehearsing the scenario in our minds before it unfolds in real life, essentially giving you a “practice run.”

For our example, simply visualize yourself running that skincare business. Picture yourself relating with customers, executing orders, and shaking hands with your team after a major promotion

Keep that visual in your head you’ll be able to derive motivation and confidence from the experience.

Step 5: Apply what you’ve learned

You’ve put in the work needed to accomplish your objective. Now its time to go to work.

Remember that only the athlete who is present on the race track and eventually runs stand a chance of winning the race. You won’t see your idea come to life until you apply wha you’ve learned.

No doubt you’ll make mistakes along the way, it’s ok, most of the best things in use today were born from terrible mistakes.

Take one action every day, tackle one component every week that gets you closer to your objective

Summary

In summary, we all get cold feet when we want to start something new

But putting the effort to deconstruct our ideas into smaller components can give you the motivation you need to succeed

So, to get started, do the following:

Step 1: Determine your Objective

Step 2: Deconstruct your Objective

Step 3: Research each component

Step 4: Visualize your successful objective

Step 5: Apply what you’ve learned

That’s all for my guide on launching your profitable business

I’ll be updating this throughout 2022.

Thanks for reading.

Whenever you’re ready, there are 3 ways I can help you:

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