Sunday, August 30, 2015

Lean Startups and Bartering Relationships (Part 3)

C) Build A Business That Will Offer Value

You cannot get rich, unless you offer people something of value.

People are attracted to things that they value, thus, they will treat it as valuable. 

How will your business benefit another?

Conduct two measurements before you embark on your business: Do a SWOT analysis, and a Cost-to-Benefit (CBA) analysis. These will give you a fair indication of what to prepare for. 

If you are investing into a business, avoid parasitic processes where you have to 'work' for somebody else's pot of gold. If you do, ensure you are higher up in the process. You can build your team, but ascertain that those you 'lead' will benefit just as much in their near-future. Avoid annoyingly-obligatory sales processes, i.e. selling to friends and family, and the  familiar. 

If it is a skills-based business, ascertain your skills, experience and wisdom. Identify your Unique Selling Points (UPSs) and uniqueness. Clarify this question: What makes you different that we should consider engaging you? Avoid the lowest-price trap (reflecting poor marketing competency).

More to follow. Best of planning and preparation!

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