Saturday, December 5, 2020
Home Financial Literacy Phyllis Shallman -How to Build a Business That Lasts

Phyllis Shallman -How to Build a Business That Lasts

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Successful businesses are good at solving problems.

The larger the problem to solve, the more rewards you will reap. We instinctively know this is true, even if we can’t articulate it. Just look at our spending habits.

Our favorite coffee shop solves our lack-of-energy-in-the-morning problem.

Music streaming soothes our rush hour stress with our favorite tunes.

A food delivery app removes the hassle of driving to a restaurant.

Your brands of choice provide you value by solving your problems. The more they fix, the more you love them!

So, imitate your favorites. Explore the problem you’ve identified until you’re an expert. Next, develop a solution that crushes the problem.

Training your sights on providing value won’t magically make you successful. But it can serve as a guiding light when you feel directionless and unsure of your next steps.

Can’t find your target market? Brainstorm which companies or agents would gain the most from implementing your solution. Be as specific as possible in explaining the benefits.

Struggling to discover a niche in a saturated market? Look for issues that competitors and industries have ignored or missed. It might be something they’ve accepted as cost of business.

Trying to scale up? Diligently research the obstacles your new clients face and tailor your solutions to their specific needs.

Let me know if you’re hungry to start a business. We can talk about the problems facing some of the largest industries in the world and how you can provide much needed solutions.

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