No. 143

Planning a Business – The Foundation

At a recent business retreat I attended, we were asked to “reverse engineer” our year. Essentially, we started with the number we wanted to make and worked backwards. When I first started my business, this was essentially how I handled things: I had a number and worked backwards to figure out what my hourly rate should be.

The problem? I had no foundation.

I had a viable business idea, but I didn’t understand the full value of the business.

The Three Things You Need To Start A Business
1. You need to know your ideal client

Trust me, you don’t want to be everyone’s go-to source for whatever service you provide. Your history, your story aligns you to work with specific clients. Get to know your ideal client — their dreams, their fears, their mistakes, their potential. Interview past clients who have been a joy to work with and find the common threads.

2. You need to know your value

How are you helping people? You might be coaching or teaching or providing a service, but look for the bigger picture. What does working with you help your client achieve? How are you supporting them? What space are you creating for them? This can be unexpected sometimes: you may think your housekeeper is cleaning a home, but the housekeeper is really freeing up your time so you can focus on your genius work or spend it fully with your family. There’s always a significant hidden value to what you do.

3. You need to know your client experience

These days, it feels like every industry is saturated. So how do you set yourself apart? By creating an amazing experience. How do you want to feel when your work is done? How do you want your client to feel? Work on what each step of your work together looks like. Where can you add unexpected value? Construct a memorable experience and you will shine.

I’m prepping my first monthly Notes to Soulful Entrepreneurs and there’s some goodness inside! If you haven’t signed up yet, GET OVER HERE and do that.

About brandi

Brandi is a digital strategist, website developer, and founder of Alchemy+Aim, a company that helps entrepreneurs and business owners elevate their online presence and enhance their digital experience. Her academic background in theatre, philosophy and physics was the perfect foundation for launching her business, where she’s worked with Brené Brown, Laverne Cox, Judy Smith, and other notable thought leaders since 2013. She is an advocate for using technology in ways that humanize, connect and serve people as well as for asking deeper philosophical questions and teaching others to think more broadly about impact when they create, particularly in STEAM fields.

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Credits

Jane Reaction

(logo and original branding) is a graphic design and art director who works with with small businesses and creative entrepreneurs, creating cohesive and interesting brands and websites.

Carrie Coleman

(photography) is a wedding photographer, whose goal is to capture the visual expression of a couple's love through timeless, organic images. She is based in Charlottesville, Virginia.