Good Morning, Afternoon, Evening, where ever you are in the world as we speak, Welcome to The Takeover Strategy, WELCOME, WELCOME, WELCOME!
I think today’s title of this blog speaks for itself, doesn’t it? And the truth is in the pudding, which means if you don’t have a strategy in place for your business it will FAIL! You need a solid foundation with a strong strategy behind it, everything you do has to be strategically planned, even down to your toilet breaks! You need to understand how many hours you are working a week, as many people when they start a new business will already have another job which they will run side by side for some time. Whilst we are on the subject of running two jobs side by side, I get asked this question all the time by my students, when can I give up my job to do my own business full-time? The answer is how long is a piece of string? It’s different for every student, it depends on a multiple of things, whether you have money to support yourself for six months, as you will need six months to work full time on the business before you know if it is going to work or not, however, I believe every business will work, it’s the individual that runs the business that’s the problem. However, you need to understand the point of going Self Employed whether you have money or not, and we teach you how to judge the correct moment to jump ship, it isn’t as easy as you think, many fail at this point. The reason they fail is they have no patience, we are in a world where everyone expects it now or tomorrow, but sadly growing a business doesn’t work that way, I have seen students grow businesses organically for three years plus, and then boom it happens, you need to make sure you are in it for the long haul, this is why so many new businesses owners lose people in the process of starting a business because their partners at the time don’t have the patience to stick by them, but I am a great believer the right woman or man whatever your preference will stick by you and do whatever it takes for you to fulfill your dreams, that is love to me, always expect to be treated the way you would treat someone and if you do have someone that supports you and helps you in your new business keep hold of them and cherish them as they are a keeper. I understand everyone has dreams and aspirations, but there isn’t any reason why you can’t support each other’s dreams and aspirations, it should be a level playing field at all times, but as I said some sadly are too selfish and self-indulged and they only think of what may happen to them during the process of you starting a new business, they don’t think why are you doing it? How much it means to you? This is why if you have someone in your life who gets in the way of your dreams and doesn’t come aboard the ship, you have to say goodbye, I have had to do it myself and it’s a hard process to go through, but again here at the takeover, if you are struggling with that we can help and give you advice on the best way to manage it.
So enough about losing people let’s get into the nitty-gritty of this blog, a strategy or strategies, how important is it? It’s very important, two main things when starting a business or starting to rebuild a person are FOUNDATIONS AND STRATEGY! As I mentioned in previous blogs where we went into FOUNDATIONS, having the correct ones are so important, but having the correct strategy is equally important. In this blog, we will go into the fundamentals of having a strategy and what a strategy consists of. What do you need to do to put one place? How do you structure the strategy? So let’s get stuck into this Blog I am excited to talk about this as this is where THE TAKEOVER STRATEGY EXCELS! I am going to demonstrate how we work with clients when we are putting a strategy in place, whilst we are talking about that I am going to give you an insight into the elements you need to put a strategy in place.
The development of a concrete business plan:-
At this point you would have already found your niche which is the business idea whether it’s a product or service you want to go forward with, you would have already researched the niche as mentioned in previous blogs, and we would expect you to have researched for at least two months. In that research, you would have looked at things like your competition, and prices, you would have identified your target market, you would understand the pains that your potential customer has, you would have solutions and where you could add value to your potential customers and you would have looked at what trending in that industry, you would have a full picture of small/medium and large businesses in that niche as mentioned in previous blogs, x 5 of each, you would also by now understand the difference between them all, which means how they advertise, what content do they put out, who are they attracting and so on, there is much more, perhaps I will cover this off in a new blog in the future. Here at The Takeover Strategy, we can do this for you, so if you came to us just wanting to start a business, we could help guide you from start to finish, but we are currently speaking from the point where you have already researched otherwise this blog would be 10,000 words long. You would come to us, where you have researched everything you need as I said this process takes a minimum of two months, and we will then start to piece together a business plan for you. What you need to do with your business plan is work based on weekly, monthly, quarterly, six-monthly, and then yearly! What I mean by that is you need five business plans in one business plan, I shall explain. With a business plan, you need to break everything down to half hour or hour, especially within your weekly plan, you need to understand how many realistic hours you have in a day to work, and you need to understand what the minimum hours you need to sleep to enable you to work hard the next day if not harder! For example, when I first started my first business I was working all day and then to 3 am every morning, and then I was getting up at 7 am! I did this for six months, sometimes it was 1 am, but mainly 3 am. However, I soon realized I wasn’t functioning properly, and I could get more work out of myself, getting the correct amount of hours sleep and working fewer hours, but at a better pace, with fewer mistakes, I worked out that most of my time I was fixing mistakes I had done myself due to the lack of sleep, so I decided to look at quality not quantity! It’s a good idea to judge your sleep patterns, so test yourself over three days, and see how many hours you feel you need, for example, I need seven hours, seven hours of solid sleep and I function like a steam train! This is where you need to have patience because it’s going to take you longer, but the quality of your work will be so much better. So we work out a weekly strategy for you, we work out the things you should be doing daily and we plan your whole day and week by the hour! The weekly strategy plan is a GUIDE, it’s a guide to keep you on the path, if you come off the road if something comes up, you have the road to get back onto. Many students we work with are not only looking for guidance in their businesses, but we also have to grow them with their businesses, so again we add into their weekly plans what they need to do every week to grow themselves. Now, you will find that your weekly plans change, we find most plans change every six weeks, this is great though, because this means you are growing and your business is growing because you are adapting to new things, so your weekly strategy changes, you are moving further down the road to success.
TIP You have a weekly strategy plan, so it’s easy to follow, step by step, this helps with your patience and taking baby steps, but we also suggest you have two notepads! This might sound silly, but it’s a tip and it does work very well. One pad is called LARGE WEEKLY TASKS TO COMPLETE and the other is called DAILY TASKS TO COMPLETE. You have your weekly plan, which is your road, the road you journey down every day, getting further and further down the path, the Daily tasks are for your own business only, for example on your weekly plan you may have “Social Media Work 6 pm-7 pm” You might, for example, post in this time to groups and comment and interact, but as you become faster you will find you will have more time, so it may only take you 45 minutes, so you have 15 minutes free, so you then turn to your daily tasks to complete list, is there anything on there related to social media? Yes, great I’ll get that done, then it’s done and comes off of the list. You’re Large weekly tasks to complete list is what fills your daily task lists, so it works as a FLOW! As you realize jobs need to be done they go on to the weekly, as you tick things off of your daily the thing from the weekly re-fill the daily! I expect you are wondering why it’s done this way. I shall explain, there are several reasons, number one is a mindset. Why? Because when you see your daily list going down you feel a sense of achievement, this is then building your confidence, and giving you self-belief anything is achievable! You also can witness your growth and your business growth, so again your mind is thinking you are achieving your targets, this will stop you from procrastinating if you suffer from that. Number Two is you are organized, and when you are organized, your business will be organized what do you think happens when you have an organized business from the start? You have an organized business when it takes off, and when your business is organized, you will attract better clients and businesses to work with, as I mentioned so many times, it’s your foundation! Another reason is that you will find as we go on and discuss monthly, quarterly, six-monthly, and yearly each one falls into the next, and the reason they do that is that for certain stages of a business to be successful it’s all about repeating the process, and again this is why businesses fail, this is the truth, because people don’t have the staying power! So what I mean by this is each stage of a business once that stage is set up repeats, repeat, repeat, then you go up a level, you put the correct strategy in place, then repeat repeat repeat. Many business owners get to a certain level and think I am not going anywhere, this isn’t working, you have to have a mindset of, I will do the same things growing this business every day until I am 90 years old, growing this business never giving up, it’s never about when it’s about how! How can I make this work, trust me as long as you are doing the correct processes, ANYONE, I mean ANYONE can start a business and have one long term, you need to have that mindset of it’s do or die, again we can teach you and guide you to have this mindset, it’s very teachable!
OK so our next BLOG will be on Friday the 4th of August 2023 and we talk about how to put a strategy in place monthly to get you more organized in growing your business
Until Next Time
The Takeover Team
Navigating Past your Competition
info@thetakeoverstrategy.com
