Want to know what three key things you need to make turn your passion into a successful business? Read on!
I’m a passionate woman. There I said it and now my statement will live forever online! I’m proud to be a passionate woman because without passion I would not have chosen to do so many of the things I do, including starting my own business. But what do I mean by passion? I mean being excited, energised and motivated by what you are doing. It is having belief in what you do and the difference it can make to others. Passion is one of the reasons people start their own businesses but it is not enough to maintain a business or make it profitable.
Your passion should drive you but behind that passion you need three key things:
A business plan
This does not have to be a 36-page treaty on every thought you have relating to your business. If you are a low-cost start-up or do not require outside investment two-sides of A4 will be sufficient. Remember to include your core business values, what is unique about your service or product(s) and the target audience. It needs to be a living document, so keep it updated and it may be handy to have it somewhere visible. Perhaps be a bit creative with it, you can use pictures or infographics if it helps you to visualise your business. If you haven’t got one, write one and if you have, dust it off and have a look whether it is fit for your current needs.
SMART Goals and objectives
Set yourself goals and business objectives with SMART in mind. SMART means:
(there are various versions of this but I’ve always liked this one!)
Making your goals this way is a way of breaking up that daunting objective that sits on the horizon and blocks out the light, into a series of manageable tasks. For me the ART bit is a key focus. Set yourself realistic deadlines. If you’re setting up a business alongside a current job, caring for family members or with little funds some things may take longer to implement. Set out your tasks and do a little each day – use your commute to work or when the kids are sleeping to tackle some of your lists. I would recommend having three key things each day you want to make happen. Long lists can be demoralising if you are not ticking off lots of items.
It can help to make the most of technology – Smart phones, laptops and tablets mean you can work more or less anywhere. You can save information in cloud storage for ease of access and use a variety of apps to assist you.
Marketing strategy to make money out of your passion
You have your idea, your roadmap and your goals and objectives, so far so good. But how will you let your audience know that you exist, and get them to engage with you and your products or services? Your marketing strategy is crucial to the success of your business. Depending on your needs, this can also be a couple of sheets of A4. As your business grows you may need to create a more detailed plan but the important thing is to have a plan!
The plan needs to have at its heart – who, what, why, where, when and how, a schedule of activities and ways to measure the effectives of activities. SMART works here as well and can help you manage your activities.
Author: Yvette Ankrah is an experienced marketing professional who runs Ankrah Associates, providing support to women struggling with their marketing as they build their empires from their kitchen tables! If you want to discuss how your passion can be propelled by your marketing strategy, get in touch – firstname.lastname@example.org