Identify Your Needle Movers and Plan To SUPPORT Them (by Christine Comaford)
This week’s post is a guest article by Christine Comaford. Please watch my introduction video first:
This week’s post is a guest article by Christine Comaford. Please watch my introduction video first:
No matter how much we might wish to believe the contrary, no one is good at everything. Each of us possesses specific talents, gifts, skills, abilities, etc. Our unique set of talents and abilities makes us who we are as business owners or entrepreneurs. It makes us who we are as individuals, as well.
In the business world, no one can do everything. The same is true in our personal lives. Whether we don’t have time to learn to do things, or we don’t have time to do some of the things we know how to do, we simply can’t do it all. Nor should we try to do it all.
Fortunately, each of us has our own area of genius. When we focus on our particular genius, we are able to accomplish more, accomplish it more efficiently, and accomplish more of what we do best. For example, I am not an automobile mechanic, nor do I want to be one. If I were to try to fix my car myself to save money, by the time I figured out what was wrong with my car, I would be able to develop a marketing strategy for a client. By the time I figured out how to fix what might be wrong with my car and actually fixed it, I could have helped several clients and easily created enough profit to fix my car and then some. So, I don’t even try to work on my own car. That would be a complete waste of my time and energy. What is more, it would take me away from what I do well and cost me more in lost time and income than if I just take it to a mechanic and pay him to fix the problem.
In today’s economic climate, it is essential to have a seasoned team, a fast path to revenue, and a staged rollout plan. When it comes to team, there are some absolute necessaries that you need to put in place.
What are the first questions a prospective investor will ask? PEOPLE questions, of course! Here are some of mine: Do you or your team members have massive experience in your field of choice? Do you have an advisory board? (It’s easy to set up an advisory board, which can bring you phenomenal expertise at zero up-front cost, as well as much-needed credibility.)
Without a seasoned team or a long history of experience and income sheets to review, how can anyone possibly trust your revenue and cost projections? As a business owner, you need credibility, and you need it pronto. Follow this “people plan” to help you get off the ground.
1. Lock in well-known and respected advisers who are veterans in their respective industries. Timeline for this? Like, now.