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I’ve been a frustrated business operator my whole life. The first time I considered going into business with my Dad, he told me I could do better than he did. I was to go to college and “get a good job”. Right after grad school, I took the opportunity to create a business, which I operated successfully for several years. However, I lacked the business development skills to sustain the business. When my primary customer’s project finally ended (a six month project was extended repeatedly until it lasted well over two years), I saw no way to continue the business in that form, and I went to work for someone else. Now all that is changing. This year I’m kicking off a project to create a sustainable business.
The Starting Point
I know I want to create a business that is location-independent and schedule-flexible. With the advent of the internet 2.0, the maturation of digital marketing, and the increasing availability of online education as-and-when-you-need-it, I’m ready to give it a go. The thing is, it’s very early in the project. We’re still very much in the initiation phase of this project. I don’t know what the path will look like or how it will turn out. I know I’ll depend a lot on others as I search for the path.
The thing that surprised me
The thing that surprised me most as I’ve considered this initiative over the past year is my MBA wasn’t enough. I lacked insight about product development, marketing, and sales, and I didn’t know I lacked it. Just like the stereotype, I was an arrogant MBA degree holder! However, I remain confident because growth is possible when shortcomings are visible.
Where To Focus
It’s clear I need to focus. I see opportunities in several areas:
- Product Sales
Whatever I choose:
- I will pursue both online and in-person interactions with the markets I intend to serve, prospective customers, and eventual buyers.
- I will define the products and services interactively with people in those market segments.
Consider And Act
Where would you focus?
Do you have an on-line business?
- If not, what area and specific product would you choose?
- If so, what area do you need help, or what area(s) do you see the biggest future need or opportunity?
Also published on Medium.