So you want to start a business! There are many strategies. Which one is best? Our guest Lucas Root shares the strategy he uses to help people launch their business, and this strategy works! Let’s learn from Lucas how to launch a successful business today.
Business Mistakes are OK!
We always afraid of making mistakes! Often, we do not want to make a mistake because we are worried a mistake will lead to failure. Who wants to fail? No one!
Lucas shares the rules, which are the following.
- RULE #1: Accept, we will fail!
- RULE #2: Learn from our Mistakes!
What Lucas is trying to communicate is that we should not let failure something we should fear failure, but we should use learn from our failures. Then, take what we learn from our inability to help us make better decisions the next time.
The take away is not to let our fear of making mistakes form stopping us from doing things. It’s “OK” to make a mistake! The key is to learn from our mistakes.
The Business Launch Process
Launching a business is exciting! It is fun to start something and watch what we are working on succeed. There is also the reality: most businesses fail because the plan they used was the wrong strategy. What is the best strategy for launching a business?
Lucas shared a new business launch process he uses to help his clients. Here is the business launch process:
1. Have a Great Idea
All businesses start with a great idea! If you currently don’t have a big idea, but you want to launch a business, Todd Smith, one of our past guests, shared how to have a great idea, and this is what he said: “start with your passions and interested.”
2. Know Our Part
After having a great business idea, the next step is to know your part in the business. Lucas shared encouraging words! We can be the inspiration for the business, and someone else can run the business. This means we can focus on using our strengths during the business launch.
3. Have Team Structure
Once we know our part in the business, we will be able to make a quick plan for the type of people we will need on the team. At this time, we are not hiring people; we just need to know the team roles.
4. Know Fundamentals
The next step is to create a business plan. This is what all the planning begins. Lucas said this is where the business owner writes down their vision, objectives, and goals. Most likely, this will take time to create.
5. Understand Customers
We may have a great business idea, but if customers do not want what we think is AWESOME, our business will not prosper. Lucas shared that the way to know customers’ thoughts about our idea is to meet with potential customers, share our idea, and hear what they think.
6. Find Core Team
When we know our business idea is needed and people would be willing to pay for it, we can start forming our core team. Lucas says this is where we need to make sure we hire the right people.
7. Start Executing
Now that the business has a team, the business plan can start being executing the plans. Lucas encourages business to create an MVP (Minimum Viable Product.) This means do a test product launch, which the customers know they are the product testers. By doing this, customers know the product is not perfect, and they are part of the perfection process.
The business launch process Lucas shared is OnPoint and is appropriate for many people who want to launch their business idea. It is simple and can be used for all types of business owners.
Making Decisions is Hard!
There is one thing that we all have to do: make decisions! It is so important that we make GREAT decisions because our choices have consequences.
Lucas said that the #1 challenge everyone has in business is making decisions. He shared how most people are tempted to do what others are doing, and they are not doing what is best for their business. This means we need to ask the questions does this applies to us.
It is easy to be influenced by what others are doing and what others are doing, maybe what we want to do. The key is that we ask the question Lucas suggested, so we are doing what is best for our business.
How to Enjoy the Launch
Launching a business can be very stressful and not enjoyable. What can we do to make sure we enjoy the business launch process.
Lucas shared three things he things are essential for all those who launch a business, which are the following.
- Work on something we believe in.
- Be with people we enjoy.
- Have a business plan
What Lucas shared will help us enjoy the business we are launching, and all three of these tips are things we control. This means we can make sure we only strive to achieve a company we are excited about pursuing. We can make sure we only hire people we will enjoy having as employees. Lastly, we can make sure we have and are following our business plan.
We had a great interview on how to launch a business! If you are starting a business now, follow Lucas’s suggestions, so you are OnPoint!
Now we know all about how to successfully launch a business! We are blessed to have Lucas Root on The OnPoint Cast! At the end of the interview, Lucas shared how to contact here, which are his website http://lucasroot.com/, Instagram https://www.instagram.com/lucroot, and LinkedIn https://www.linkedin.com/in/lucroot.
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