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Your business can never be successful until you know why you are in business.
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It is normal to become nervous after reaching the 40th year of age. With increasing age, the responsibilities on your shoulders also increase and in such a situation there is very little possibility that you would like to start a business on your own, should you do so? But instead of going through a mid-life-crisis, the age of your forties could also be a decade of new opportunities for you. By the age of 40, you can understand very well what you want from your working life and what you do not. So how can you turn this phase of your life into an opportunity for new things?
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In this summary, we are going to talk about this. Here you will learn step by step ways to start a business, which will develop your confidence and you will be able to do some meaningful work in your everyday life by becoming your own boss. From finding your ideal customer, pricing your product to becoming a reputed brand, this summary will guide you through starting a business in the second phase of your life. In this summary you will learn why your brand is like an iceberg? How Can You Hire the Right and Necessary People? And what kind of pricing strategy should be used?
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So let’s get started!
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In 1992, Shawley, a business consultant and author of this book, was earning a decent amount of money by helping people create the perfect resume, teaching and writing articles for trade magazines. All his work was freelance. Why didn’t Shawley start his own business despite being a freelancer? Because he didn’t know why he should do this. Shawley also wanted to start the business for the same reason that most of us do. She had to support her family financially and she did not want only family activities in her life. Although this reason was valid, it was not good for the foundation of his business. Apart from your product and price, there is another reason why customers may choose you over your competition and that is because they are able to relate to the reason behind your business. Shawley wanted to support her family financially, but how could this reason inspire a customer to support her? For example, take a psychotherapist, the reason behind his work is to allow the client to live a pain free life. This reason, is a kind of motivation that she shares with her clients and because of this shared goal, the customer would like to see this psychotherapist grow ahead of other psychotherapists.
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When you know the reason behind your work, then you will know which work to say yes to and which to no. The reason behind the work itself, will help that psychotherapist to understand which work he should take and which work is better to do by others. This way the friends and professional network of the psychotherapist will know what kind of clients to refer to them. On the other hand, Shawley did not have any specific reason to do the work, whatever work would have earned her good money, she would have said yes to that work. It was confusing and exhausting. People in her profession did not even know what kind of work she specialized in and what kind of clients should be sent to her. Understanding this problem, Shawley made his work specific and now the reason behind his work helps people to set up their own business. To know the reason behind your work, start exploring what things you are passionate about and what unique strengths are within you. Often people try to find the answer to such questions alone but asking their family and friends about it can be helpful. Because sometimes we are not able to notice the strength inside us while the people around us understand it.
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