9 Ways to Build a Remarkable Business in 2010

2010 is just around the corner, for some of you in other parts of the world its upon you now! So instead of making a list of silly “I want to get skinny” goals read over these 9 musts for any entrepreneur who wants to build a stellar, remarkable business in 2010… then you’ll have enough dough to pay someone to work the fat off for you.

  1. Be REMARKABLE. In every thing you do from now on ask yourself “how am I being remarkable in my field, market, business, community. If you find your brand slipping into the large pond of the mundane quickly change directions even if it means losing profits at first. Only the remarkable truly succeed in the end and produce a lifestyle that you’ll be proud of as the founder.
  2. Try Anything Once except… the status quo. In business it is necessary to try many, many different paths before you hit upon one that will rocket your little biz into the new decade’s Fast Company, Zappos or Subway. If you go down one path and realize it is wrong change direction fast and try new things furiously. In the beginning you have the beauty of being undefined and finding your best niche, use this opportunity even if you have to eat rice & beans for a year to get there.
  3. Face your Fears. Ask the following questions to yourself & write down the answers. Then every time you have a problem or decision go back and re-read them. What is the worst case scenario and how would I overcome it? Who is my ideal market? Who isn’t my market? Is this business model supporting my ultimate dream life and if not how do I change it? These aren’t easy questions but if you answer them honestly you will know more about yourself and your business than 90% of Fortune 500 executives ever do.
  4. Become a Salesman. Regardless if you hate people, are severally anti-social or think your too good to ‘sell’ anymore you need to re-evaluate and embrace the job of a salesman. I don’t care if you get a job selling vacuums or read 10 of the best books on what makes a great salesperson, you must be able and willing to sell if you want to be a success. It is irrelevant if you will ever be on the ‘sales floor’ of your business, just knowing the difference between a great salesperson and a poor one is worth it. On top of that when you are out and about you need to be in ‘selling’ mode 24/7 so learn this trade. An old saying goes like this: show me a good salesman and I show you a man who never is without work.
  5. Don’t Start with the Product. Starting with an invention and then finding a market for it & a sales method is a sure fire way to go bankrupt. Instead turn the ordinary model on it’s head. Start with the target market, figure out how you’ll sell to them.. what you’ll offer, where their ‘free prize‘ lays and then develop a product around what you already know.
  6. Act like a Preacher. This means you need to believe in your business, product and brand deeply.. almost religiously. Now I don’t say this to be irreverent, I have deep faith in my own beliefs, but I mean this to push you to truly champion your business and product preach to others. If you aren’t your single biggest fan than why should anyone else be?
  7. Whats your Free Prize? The idea of the Free Prize was one I learned from reading Seth Godin’s book Free Prize Inside. One I recommend highly, this book champions the idea that consumers by products and services not for their intrinsic value but for the feeling they get from them. Often this ‘feeling’ is a sense of superiority, coolness, getting a deal etc. and often the ‘free prize’ idea is core to this model. iPhone’s for instance don’t seem like a product that offers a ‘free prize’ but in reality their free prize is the coolness the status one gets from owning an iPhone. So ask yourself when you look at your service or product, what are the bonuses that will get them to buy? If you don’t have any or can’t see any email me at: marenkate@gmail.com and we can brainstorm together.
  8. Create a Franchise. Now when I say this I don’t mean you will ever need or want to franchise your business (though it is vastly profitable), instead I should say think like a franchise. In everything I do I write manuals, guides and task lists. I got this idea early on from the book The E-Myth and it has stuck. Even if it is just you at this point act like you are building up a business that you will have to sell to 100 eager franchisee’s and need to teach them EVERYTHING you do from the ground up. This truly is the single best piece of business advice I’ve ever gotten and also the least used in companies big or small. Why? Its hard, its actually a total pain in the you know where. But the more you do it the better you’ll get and it puts you in the mindset for massive success because you are planning on your business growing large enough that future employees will be going these manuals like a bible for your business. So start thinking like a franchise, you never, ever want to be stuck in the “I’m the only one who can do x, y or z” spot. If you are you’re business will never grow to great heights and you’ll probably burn out at 35. But if anyone can do any part of your business then you’re good as gold… because then you business runs like a well oiled machine and doesn’t have to be bothered with the human element.
  9. Find your 1000 true fans. I have been obsessed with this idea ever since I read this brilliant post on gaining 1000 true fans. To sum it up the article says that any business, brand or musician can be successful if they have 1000 true fans as their base. That means 1000 people who buy every book you write, album you release or product you create. These are people that read your every blog post, interact with you on Twitter, are you fans on Facebook and more. It may seem like a daunting number but its not, 1000 true fans starts with 10, then 100 then gets to 1000 and beyond. Find out who could be your 1000 true fans first and then actively pursue them, write articles aimed towards that demographic, create products that base will love, make offers that will resonate with those 1000. Think of it this way, if you have 1000 true fans and own a web based business where you teach them X all you have to do is release 3 products a year at $37 each to make almost $100,000! That isn’t chump change! Now imagine if you are a car dealer or a rare watch maker. Your 1000 true fans could make you a millionaire many times over.

I hope these 9 ways to build a remarkable business help you in 2010, they sure as heck have helped me in the last year and I plan on implementing them even more this coming one.

Action Step:

*Read 1000 True Fans by Kevin Kelly.

*Post a comment with at least 1 thing you are going to do in 2010 that is truly remarkable.