READ AND LEARN HOW TO DEVELOP THE BUSINESS MINDSET…..
Whether you’re looking to get your first ideas off the ground, are thinking of a career change, or looking for ways to improve your business strategy, having a business mindset is crucial to your success as an independent creative.
We creatives are passionate about our jobs, and feel extremely lucky to work in the sector that we do. Unfortunately, this can sometimes mean that we do not recognize the value of our work, undersell ourselves, or give away our skills, knowledge, or time “for free”.
Remember, creativity is a skill and you are bringing something different to the table, so you should be looking to make a profit on your work.
Having a Business mindset simply means you understand and appreciate the unique value you offer, and are able to implement and follow a strategy or action plan that ensures the recognition and financial success you deserve.
4 key pillars for creating an action plan for business mindset
Abraham Asefaw is a creative business consultant and entrepreneur who has worked with the likes of Coca-Cola, Facebook, and Conde Nast. He believes that anyone with passion can set up their own viable business if they have the right action plan.
He is also a Domestic teacher and an expert on demonstrating how to use a business mindset to create a detailed roadmap that will make you stand out from the crowd, ensure a healthy, sustainable business, and achieve long-term success.
Creating value
First ask yourself first what it is that sets you apart from your competitors. What is the unique value you bring to the market? Try to summarize this in a few brief sentences so that it is clear and easy to market to your potential clients.
You can also think about the kinds of problems you are helping to solve and for which group, as well as who you are targeting specifically, and who else is doing something similar. Once you have identified your competitors, you should also think about how you can differentiate yourself from them. This will answer your client’s question “what unique value will you bring me if I choose you over your competitors?”. (business mindset )
Delivering value
You can have the best idea in the world, but it will not succeed if you do not know how to deliver it. Abraham reminds us that it is important to take a holistic approach by focusing on the pre, during, and post stages of delivering your product to create the best possible experience at every point.
So for example, pre-delivery could be looking at how you raise awareness of the product you’re selling, and how you enable them to make a purchase. Post-delivery can be how you are supporting your customers after they have bought your product, how you maintain a relationship with them, and how they can become part of your brand awareness strategy.
Capturing value
Creating and delivering value are obviously important, but they mean nothing if you’re not making a profit. Depending on which area you are working in, it can be easier or more difficult to decide on the price to set for your service. The most obvious way to do so is through market research and comparing your prices to your competitors, but there is another way.
Abraham introduces an approach called a “reverse engineering strategy”, which follows a very simple formula to work out your financial goals, yearly revenue, and how much to charge for your service or product based on those findings. Then, ask yourself where your money is coming from in order to clearly-define your income streams, before testing your target audience to see if they are willing to pay the rates that you have set.
Evolving
The final pillar is to evolve your business mindset . After all, change is the only consistency in life. Evolving may be adapting your business, changing it completely, or innovating it. If you choose to evolve your business, first look at what it is exactly that you would like to focus on. Is it evolving your current offering? Or is it expanding your target audience?
Once you have decided, you need to research current activity in that area and look for inspiration. This will help you to generate ideas, and you can pick the most viable one to test a prototype and then evaluate whether it is worth implementing or not.
The Business Mindset: 12 Step Guide to Developing a Business Mindset
business Mindset are the important part of personal development and success in life good mindset help people to overcome obstacles and reach their goals. There are many different mindsets to choose from, but one of the most prominent is the business mindset.
1.Seek Opportunities to Learn.
Learning is something that is closely related to entrepreneurship, as well as the mindset of self-improvement and leadership skills that are required for this mentality. Seeking out information about how your business works, how to lead it better, and new opportunities will help you become a better leader.
Find a mentor to teach you more about running a successful business or learn from books about leadership styles, marketing, and sales. You can always learn more about how your business works and what you can do to make it more successful.
2.Don’t Stop at Mastering One Skill.
Everyone has a unique skill that they are particularly great at. Instead of focusing on this one skill, however, focus on honing your ability to do every task as good as possible. There is power in being able to complete each task no matter what the situation, and this mindset will help you reach your goals. You can help others by learning how to complete tasks better by reading books or speaking with people who have mastered more than one skill.
3.Don’t Apologize for Poor Decisions.
Making mistakes is an unavoidable part of life, no matter how hard you try to avoid them. The key here is not in making the same mistake twice, but in learning from your mistakes and moving forward without any regrets. Deciding that you can’t change anything will stop you from improving yourself and your business mindset, so be sure that you always see your decisions as opportunities to learn something new.
4.Always Be Prepared for the Future.
Every successful entrepreneur takes the long view in their business and A good business mindset is always prepared for what may come. Being able to adapt to new conditions and circumstances will help you learn more about yourself and your company. If something comes up that will force your business to change, be ready for it. You should also be ready to grow and expand when the time is right, but have a plan in place before this occurs.
5.Keep Exploring New Business Opportunities.
Business gets old and if you want to stay on top, you need to keep finding ways to grow your company. There are new products and services that you can offer, but you must be proactive about seeking them out. Be alert for new opportunities that could help your business succeed even more. Nothing is more exciting than exploring new business opportunities to increase revenue and find new success!
6.Proactively Seek Out Challenges.
Seeking out new challenges helps you find out if you can handle them or not. It’s also a great test to see what skills you need to improve on in order to have more success. Finding challenges in your business will help you learn more about how well you can perform under pressure.
This will also help you work towards your goals . By achieving them faster you’ll grow your business quicker. Which will help you learn more about yourself and your business.
7.Use Small Steps to Grow Your Business.
One of the problems with businesses is that they can get so big that they become too large to manage effectively or grow effectively. Small steps every day will ensure that you will continue to grow and expand your business without spending a lot of money to do it!
You can get started by adding more clients, introducing new products, or spending more time with existing clients. Small steps can be very helpful for a small business.
8.Have the Right Attitude Towards Money.
Having the right attitude towards money is key to being an entrepreneur and growing your business. This mindset will help you deal with money and work to get more of it without being greedy, upset, or complaining about how much it costs you. Being in control of your money will allow you to make better decisions that will benefit your company, and help you grow faster!
9.Change Your Thinking About Risk.
Your chance of failure will always be greater than your chance of success. But this doesn’t mean that you should avoid trying to start a new business. When things don’t go your way or there’s no clear path to success, think of how you can improve yourself or the business as a whole and change it for the better.
10.Always Be Ready for Change.
This is one of the most important lessons that new entrepreneurs need to learn. The business world is constantly changing, so you must be prepared to stay one step ahead of your competitors. By keeping abreast of industry trends and being aware of what’s new in your field, you’ll be able to adapt your business to stay successful.
11.Choose Wisely Based On Your Strengths and Weaknesses
Find people who will support you and help you succeed in growing your business. Choose wisely and use people who have complementary skills to your own. The more you have to offer and the better you can work with your team, the faster you will grow your company.
12.Don’t Worry About the Future.
The best way to achieve goal-setting is to focus on the goal you want in the present, and then take action towards that goal. If you aren’t setting business goals to try and achieve your current ones, you are wasting time that could be used productively toward achieving your current goals.
The “life-hack” here is to keep your eyes on the prize and do what it takes to get there. If you want to change something about yourself, then get started today to make that change happen.
Using these as a reference is a good way to begin thinking and making decisions in a more business-oriented way, but you should be prepared to follow through with your action plan once you have designed it
