I adapted this title from an article “Start Small Win Big Challenge” by entrepreneurial authority JJ Ramberg in the February 2013 issue of SUCCESS magazine. Ramberg’s article is brilliant in its simplicity and that is what captivated me. She keeps her advice refreshingly simple.
Ramberg presents four meaty steps that will lead you – the small business owner – toward SUCCESS. Here is an observation you can relate to because it may keep some of you up at night: Success often appears more elusive than it should be or just more challenging to achieve than you thought it would be. Often, we present the invisible behavioral barriers to the success that eludes us. Ramberg reminds us that thoughtful preparation is the indispensable element to success.
To begin, ask yourself:
Who are your potential investors, customers, and job applicants?
What approach should you take with each of them? (Hint: It should be based on their interests, not yours)
Ramberg suggests, with each category (investors, customers, and job applicants), do the following:
STEP 1: Refine your elevator pitch. Develop pitches for 20 seconds, one minute, five minutes, 20 minutes and one hour. Remember, your purpose is to pique the interest of someone important to your success.
STEP 2: Keep it simple! In your pitch, don’t ramble and don’t overwhelm with details best provided at a later time. Test your message on those who don’t know what you do. If they understand, others are likely to understand as well. You are looking for the reaction that says, “I like what I am hearing and I want to know more.”
STEP 3: Look at metrics. This simply means always pay attention to the factors that drive your success. A partial listing of Ramberg’s factors refers to Traffic to your website, conversion rates, numbers of repeat customers, etc. (see article for her full list.) Ramberg’s list is illustrative, therefore you may add other factors more germane to your business venture.
STEP 4: Understand your finances. Ramberg writes “Many of us go into business because we’re in love with our idea, not because we’re in love with income statements and balance sheets. But the only way to provide a clear growth path for your business is to understand your finances.”
I cannot improve on that language. Ramberg’s advice is timeless, practical, and proven. Try it! SUCCESS in your business venture may prove less elusive than it has been thus far.
