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1-Page Summary of Will It Fly?
Overview
Starting your own business is a great idea. You need to have an innovative idea and build a company around it. But you also want that company to succeed, so you want to make sure it’s built correctly from the beginning. The following are five key points that will help with the launch of your business:
There are several key steps to take when developing a business idea. First, you need to make sure that your idea aligns with your personal goals. Second, you must be able to financially support the venture. If you can do both of those things successfully, then your business will be ready for takeoff.
In this article, you’ll learn how to identify your strengths and weaknesses. You’ll also find out why it’s a bad idea to create a website for food trucks if you don’t own one yourself. Finally, you’ll discover how to speak the same language as your customers.
Big Idea #1: Becoming a successful entrepreneur means creating a business that’s in line with your lifestyle goals.
What’s the first thing a young entrepreneur should do before starting a business? It’s not getting funding or printing business cards. The most important step is to figure out how her idea will support her desired lifestyle.
Before starting a business, it’s important to make sure that your business idea is aligned with your values and goals. If you don’t do this, you’ll end up wasting time, energy and money on something that doesn’t matter much to you.
So, if you like interacting with people, make sure that’s reflected in your business’s social environment and create a space to nurture that.
How can you make sure that your future business decisions will leave you satisfied? By interviewing yourself in the future.
To figure out what type of business you want to start, ask yourself a few questions. First, break down your life into four parts: family, career, wellness and finances. Next, assign each category to a quadrant on the page. Finally, imagine yourself in five years and write down all the things that come to mind for each category.
For example, you might write about your financial goals. You could say that in the next five years, you want to have paid off your mortgage and start investing in property. Your kids’ education should be covered by then too. If it doesn’t seem like this is possible for you at the moment, think of ways to improve on it now so that when those years come around, you’ll achieve what you set out to do.
All this talk of the future might have you thinking about starting a business. However, before you do that, it’s important to figure out what kind of person you are and what your strengths and weaknesses are.
Big Idea #2: Successful entrepreneurs spot their advantages by looking to the past.
If you have one skill that is better than others, use it to your advantage. Your unique skills give you an unfair advantage over other people.
Having a superpower is an advantage. It makes you stand out from the competition and can motivate you to do better.
For example, imagine you’ve been teaching yoga for 15 years and just had the idea to open your own online school. You have a lot of knowledge about different schools of yoga as well as various techniques. Naturally, you’d want that unique knowledge to serve as the foundation for your online school.
However, if you’re not sure what your strengths are, then it’s important to figure them out. One way is by looking at previous experiences and seeing what you liked or didn’t like about each one. The author did that when he worked for an architecture firm and found that he enjoyed learning new things every day and working on something physical so that after a project was finished he could actually walk through it.
