Page 22 - iNET magazine.June.2021
P. 22

Start Up Success

                                                   by Michele Malo

                                                You were       based on offerings in the industry, within your
                                                brave and      competitive set.
                                                decided to
                                                leave your     3) Research, network, research. Attend industry
        current occupation or invest in a new opportunity.     conferences, research competitive websites,
        When it comes down to it, the financial burden can     locations, and products.  Start subscribing to industry
        be daunting. You must be comfortable with being        publications, so you can stay ahead of trends and
        uncomfortable especially when owning your own          learn from adjacent industry’s best practices.
        business.  Below are some steps to get you jump        4) Begin to determine your company´s top competitors
        started and not running back to the comfort zone of    (4-6 competitors).
        your past.
                                                               Set up a dashboard of comparisons; choose different
        Where should you start?                                variables, price, product quality, exposure, brand

        1) Building your personal brand, the first thing you   reputation, etc. Setting up a dashboard allows you
        need to understand especially when starting out,       to compare your offerings to theirs and keep track of
        customers and clients buy you, not your product or     changes in the industry, so you can be the disruptor
        service—you.                                           and not get disrupted.  You can use this data to
                                                               uncover white space for innovation, additional revenue
        What do you stand for, what makes you different from   streams both active and passive, then go to market.
        anyone one else, what makes clients say, “I need you
        in my life?” What is your realm of genius? Think of    5)Ok I think we have finally made it and now it’s time to
        the one thing that you can do in your sleep, this your   let the world know your business is ready to take the
        unique selling proposition.  Build all of your messaging   marketplace by storm.  Take all the upfront work you
        with this expertise and authenticity in mind.          have done and start thinking about how your target
                                                               audience would search for your product or service.
        2) Now, it is time for some competitive analysis. It is   What problem are you solving, pain you are taking
        important to understand where you stack up against     away and what are people Googling?
        the competition and do a swot analysis.
                                                               Now your business is at the official start line and
         What is a SWOT analysis?                              ready to accelerate forward, you will be turning those
                                                               passions into profits in no time.
        S – Strengths, this is an internal deep dive into your
        business. This is where you identify your strongest      Michele Malo delivers an appetite for sanity to
        points of differentiation you can offer the marketplace.  entrepreneurs and corporate go-getters needing to

        W – Weaknesses, this is also an internal look            make a change in their lives and businesses. As a
        into the areas you need to work on and where your        coach, she creates strategies in personal branding,
        competition may have an advantage.                       marketing, career and business acumen for her

        O – Opportunities, we are going external to see          clients. As a speaker she motivates audiences all
        where there may be untapped white space or               over the world, and as an author she empowers
        where your unique selling proposition gives you an       others to confidently live a life without regrets.
        advantage on your competition.                           Michele fuels an appetite for success through
                                                                 her Success Menu Programs, that opens up their
        T – Threats, this is external and a deep analysis of
        where your business can be threatened or vulnerable      mindset with the idea, “If the rug gets pulled out
                                                                 from under you buy a new rug.”

   17   18   19   20   21   22   23   24   25   26   27