I enjoy working with entrepreneurs from many different markets. The enthusiasm, energy and opportunity to build something makes for very fulfilling work.
Typically, the hardest part is finding a good market. Today, markets are emerging rapidly and others are dying quickly. The onslaught of the information age has created great opportunity and change. We are in special times.
Finding a market for an entrepreneur typically happens in one of the following ways:
- An employee got sick and tired and set up their own shop. This is most often the case.
- A trend develops like iPhone Apps or social media. The pathway emerges and the next thing that happens is a project with budgets and marketing happen.
- A need occurred. Discoveries of deficiencies in how a process is done or a service is delivered from the customer perspective creates frustration and energy to do something about it.
Whatever the case, a market can be found from circumstance or initiative. They exist all around us. We can all get into the business of software, ice cream, clothing or professional services among many others. But, there is a barrier…
Got Market, Need System
Finding a marketing is highly important. Pick a bad market and your struggles may be endless. Too much competition, old mindsets, and a host of other obstacles can sabotage the best intentions.
I hear ideas all the time. They matter little. Execution is critical for success at the end of the day. Namely, the business systems which can:
- Attract customers
- Deliver your promise
- Manage projects
- Get you paid
- Help customers start
- Increase revenue
- Take vacations
These are what create a future and not a fizzle. Without a system which creates a predictable result, you cannot grow the business. The work becomes exhausting and chaotic. Business systems are the business at the end of the day. It is what you sell when you exit. It is what your new hires are looking for to get the job done. It is what you exploit to manage with ease from anywhere.
Build a better business system and you have a business which can grow and give you peace of mind. It is the key challenge inherent when you find a market.
Perhaps you see opportunity. What business system do you see a need for? Feel free to comment below.
