You're looking to start your own business. How can you ensure it's a success?

Establishing your why helps you when things are going against you. Being able to recall my core purpose has motivated me to be resilient when challenges arise in my business. Don't just take my word for it. "He who has a Why to live for can bear almost any How." - Victor E. Frankl Not only does understanding your why help with motivation and resilience. It also helps you align with what your audience needs. ”Don't ask yourself what the world needs. Ask yourself what makes you come alive, and go do that, because what the world needs is people who have come alive.” - Howard Thurman Ask yourself "What are the things that make me come alive?"

What is your business's purpose and long-term goals? Do they align with your purpose and long-term goals? Aligning your business with your values and long-term goals is crucial for sustained success. It provides a strong foundation for decision-making, guiding your actions in a way that reflects your core beliefs. This alignment fosters authenticity, building trust with customers, employees, and stakeholders. It creates a sense of purpose, motivating both you and your team to work towards shared objectives. When your business aligns with your values, it enhances employee engagement and retention, as individuals find meaning and fulfillment in their work.

Practically speaking, no one can "ensure" that it's a success. That's not in our control. All that we can ensure is to give our very best efforts, utilise all available resources to their maximum potential, and remain true to our principles at all times. We can only ensure walking back every time we get de-railed.

Before diving headfirst, rigorously validate your business idea. This involves conducting market research to understand if there's a genuine demand for your product or service. What problem are you solving for your target audience? Is it a significant pain point they're willing to pay to address? How big is the market for your solution? Who are your competitors, and what are their strengths and weaknesses? What makes your offering unique and valuable compared to existing options?

My work is a mix of serving corporate partners and business owners. I can't even count the number of times a corporate contact has said "I would leave this job and start a business if I knew how to make it successful." My reply is always: Leave the safety net and it will be successful. But seriously, it's all about aligning with the right people, the right influences and the right resources. If you're looking to start your own business in the next 6-12 months, my advice is to start focusing on your network right now. Start right here on LinkedIn. Connect with business owners, join their webinars, sign up for their newsletters, comment on their posts, ask questions. You'll be amazed at how many business owners want to support you. Good Luck!

Surround yourself with talented and passionate individuals who complement your skills and expertise. Assemble a team with the necessary experience and knowledge to execute your vision. The business landscape is constantly evolving, so be prepared to adapt your strategies and pivot your business model when needed. Be open to feedback, embrace change, and stay agile to navigate challenges and seize opportunities. Your brand is more than just a logo or tagline; it's the personality and values of your business. Develop a strong brand identity that resonates with your target audience and differentiates you from the competition.