Part 1: Providing value
Hey, future entrepreneur! I’m pumped for you if you’re considering starting your own business! But let me tell you, the journey won’t be a walk in the park. To succeed, you need to start with the basics, which means providing value.
What do I mean by value? Your product or service needs to make people’s lives better in some way. Listen up because this is crucial: your product or service must solve a problem or meet a need people are willing to pay for. It could solve a problem, meet a need they didn’t know they had, or bring them joy. It’s as simple as that. You need to know your target market to determine what that is.
- Who are you trying to reach?
- What do they need?
- Once you’ve got that down, you can start developing your idea with their needs in mind.
Companies that provide value:
Let me give you some examples. Take Airbnb, for instance. They’ve completely disrupted the hospitality industry by providing a platform where people can rent out their homes to travelers. This not only gives travelers a more unique and affordable experience, but it also allows homeowners to make some extra cash. Talk about value!
Or how about the meal kit delivery service, Blue Apron? They’ve made it easy for busy people to cook healthy meals at home without the hassle of grocery shopping. Delivering all the necessary ingredients and recipes to your door saves you time and effort while helping you eat better.
And let’s not forget about Amazon. They’ve revolutionized how we shop by offering fast, convenient delivery and a seemingly endless selection of products. They’re saving us time and money by allowing us to buy everything we need in one place.
What about you as an entrepreneur?
So, how can you provide value with your own business? Think about your target market and what they need or want.
- Is there a problem you can solve for them?
- A service you can provide that will make their lives easier?
Your product or service needs to be top-notch. You want your customers to be happy and satisfied with your offer. And if you’re not getting positive feedback, you need to step back and make changes. Your customers’ opinions matter and you need to meet their expectations to be able to keep them around. But the good news is that you can start small and simple, then scale up!
Don’t worry. You’ve got this! One way to ensure you’re providing value is to concentrate on your unique selling proposition (USP).
- What sets you apart from your competition?
- What makes your product or service unique?
- You need to figure that out and ensure your target market values it.
These are all questions for you to explore at the beginning of your journey. I’m ready to start testing new products and services and gathering feedback from my target audience. I’m excited to revise and recreate as I learn from the process!
I’m launching my very first ever online course this spring: Becoming a more mindful and productive you!
Additionally, I’m launching my first membership group in May 2023, and I couldn’t be more excited. I’m planning, creating, and sharing my journey to inspire others interested in paving their own way in the world and breaking free of the 9-5 grind.