BUILD THE BUSINESS YOU WANT

Setting Up A New Business

Transcript

Hi. George Swift here from Bigger Brighter Bolder.

I thought I'd take a few moments, actually, and just put some thoughts out there for you if you're someone that hasn't yet set up your business, but you're thinking that running your own business might be the calling for you. And I thought what I'd do is put a real whistle-stop tour of things that maybe I think you should be mindful of before you embark upon that journey.

Number one, I want to share this with you. It is rewarding, there's no question. There is more freedom in being your own boss, more freedom in running your own business than any other career on this planet. I mean that.

Sometimes we look up at and we revere actors and pop stars and, I promise you, behind every actor and pop star, there is someone telling them where to be, what to do, what to say and how to look, right?

As an entrepreneur, as a business owner, we get to do it our way. We get to do what we want, the way we want. We get to choose our customers and we get to do it ultimately for the wealth that we want.

So fundamentally, there is no other freedom like being your own boss, that's true, and maybe freedom is one of the main reasons that you're thinking about being your own boss.

The second one is this. It is incredibly rewarding. It can be incredibly rewarding financially for you, but more than just financially, it can be really rewarding to you at a very deep, meaningful level. Doing something that you love, doing it in a way that you choose to do to give the best possible result to other people who you really care about, is probably the most rewarding thing there is in this world.

And you get to get paid for that and you can get paid really well for that. And it's an incredibly rewarding career choice.

However, number three, it is challenging. Don't kid yourself.

You know, the idea that I can work when I want - yeah, you absolutely can. I'm not an early bird, never have been, I used to kill myself trying to get up to London on the tube at 7 in the morning. I don't start really until about 10 o'clock most days.

Yes, I have that freedom. Guess what? I don't finish most days until way, way into the evening hours. Some days, even now I am many years into my business, some days I can still be working until midnight, one o'clock in the morning. However, I may take a Wednesday off and then work on a Saturday. I may work seven days straight and have four days off.

You know, when my kids were growing up, I used to work really hard when the kids weren't with me and then when my kids came to stay with me, what I would do is stop all work, whether that was a summer holiday, a Christmas holiday, Easter, whatever it might be. There's incredible freedom and there is a real luxury around that freedom.

However, there is a big job to get done and you must get it done. You can't just sit there and say, "Here's my 40 hour week. And then I won't do that, and I won't do that...” And you're left with this.

I promise you, the hardest thing you're going to do is try and make a business successful by only working on it a handful of hours or only giving it a half-arsed attempt. You really need to be all in and full on. However, you are a master of your own destiny, you are your own boss and you do get to work the hours that you choose, and you just need to make sure the job gets done.

That job is going to be a challenging one, it's going to have many pitfalls, many hurdles. Many business owners, I promise you, have got to a point where it's nearly broken them, however, I promise you when you get through that and you break through those barriers and you get through to what I sometimes call clean air - like a plane, getting through the turbulence and then getting through to that clean air - it's incredibly rewarding, it's exciting, it's creative, it's intoxicating.

But don't kid yourself, it's really, really hard work and it is really challenging. And sometimes we go into setting up our business a little bit blinkered, you know, and sometimes I say, we do need to be a little bit naive sometimes and if we really knew how hard it was going to be, we probably would never start.

I'm not trying to put you off in any way, but I'm more like trying to rally the troops. And get you ready for maybe what's in store for you because if you go in there, you're going to have a bit of a shock when you realise you're probably going to have to work harder than you've ever worked before for probably less money than you've ever earned before. But once you get through that period, I promise you the rewards are there.

What happens with a lot of people is they go in there a little bit naively, they get caught up in the hard work, they get caught up in all those challenges, they never really break free, and they end up making a prison for themselves where what was once a dream becomes a little bit of a nightmare. And what I have is a little saying where I say, you know, "To live the dream, you first have to get through that nightmare."

Now, it doesn't have to be all as bad as that, I promise you. If you surround yourself with the right people, you get the right input, the right advice, and if you've got people that breathe life into your business and breathe life into you, it's a lot easier than if you try and go it alone and try and make all the mistakes on your own and stuff like that.

A couple of pointers, I'd say to you, if you're really thinking about setting up your business...

Number one, make sure that you know exactly what the product is you're going to be offering, probably a service, right? That's what a lot of small businesses set up to do. So what service are you going to offer? Is it what you're already doing for someone else? Or is it something new?

The second thing is, who am I going to sell that to? Really important you understand that you’re not going to try and sell it to everyone. That's an absolute, catastrophic, terrible strategy.

You may sell to people you already have relationships with, but equally, they might not be the best clients for you. So, who's going to really value my product? Who's going to really respect my product? Who's going to pay good money for what I'm doing? That's a good place to start.

Also - the passion side of things - who do I really love working with? Who do I work well with? What projects really excite me and what do I care about?

You know, if I don't care about my clients, I can't give my all to my clients. If I don't care about what my clients are doing, I can't give my all. When I'm bought in to a bunch of clients who I love individually, and I love what it is they're doing in the world, now there's real alignment to my purpose, my passion, my motivation and what it is I'm trying to do. There's incredible joy, and that incredible sense of doing something purposeful and living a meaningful life and creating a meaningful business.

The other thing I want you to think about is when you're going through the early stages of business - but I promise you, there's still many a slip between a cup and a lip coming up for you even when

you've been in business for multiple years - you want to make sure that people closest to you are bought in. So don't go out there and fight everyone close to you, you really want to rally the troops.

Now, I know not everyone has this, not everyone has the full support of the people closest to them. I get that and it's hard work. For those people, it's even more important that you surround yourself with the right people and you have an environment of people who are business owners.

If you surround yourself with other people who are employed, like yourself maybe at the moment, what will happen is you'll have a lot of people that are not necessarily trying to hold you back or stop you - trying to look out and protect you really is what they're doing - but they might be saying things like, "This looks like a lot of hard work. Why not get a job?” “I can get you a job here." Or, “You're working really long hours, I can see you're stressed, I can see the pressure, I can see the struggle..."

They're not necessarily trying to poo-poo your dreams - they're not trying to necessarily bring you down - what they're trying to do is protect you and keep you safe. However, you don't need that kind of support pulling you off your A game. So what you want to do is make sure you surround yourself with people who are bought into what you are achieving. It doesn't mean you move away from friends or family. It just means that you want to try and win those people closest to you onto your dreams and your ambitions and your goals.

If your business affects other people - a spouse, your children, et cetera - no matter how young the children - mine were seven years old when I set up my business, I think, and I got my children bought into this business right from the get-go. Make sure your partners are involved, right? Not necessarily involved in the business as such, but they're involved in the dream, they understand the sacrifice that maybe they're going to have to make as well for you to be able to create the dream that you're creating. Let's be honest, not just for yourself, this is for you, your family, those people that you care about, and maybe for the world at large.

So try and make sure that you take the time out to win over those people closest to you, your friends and your family, certainly spouses and your children so they understand why you're making the sacrifices, understand why it is you're doing, how you're doing it for them as much as anything else, and understand that actually these people who may get frustrated with the long hours, they may get frustrated with you being stressed and stuff, understand that these people are also paying a price and making a sacrifice for you to create your business as well. So have some compassion for that, but really try and create that team environment at home. The last thing you want is to have pressures and stresses at home that are getting in the way of what you're trying to do, which is launch and create the successful business.

The quicker you can launch the business, the quicker you can get it off the ground, the quicker you can start to stabilize things and it doesn't have to be such hard work. That being said, you've always got to work hard, right? Once you get through the really, really hard work and the challenges, there's always going to be further challenges and stuff, but you then get to choose for yourself how far do you take this, do you want to create a lifestyle business with a moderate income? Or you want to go off and build an empire? I've worked with both types of people.

Some people they want to create big empires and go onto multimillion pound businesses. For some people, they want to create a nice lifestyle earning decent money. However, just because that's the end game, one up here and one nicely cruising out down here, the truth of the matter is that first step, that first year, if you like, is the same for everybody, which is you really want to get your foot down using my plane analogy, you want to pull back on that yoke and you want to get some serious climb. The most dangerous place for a plane is when it's close to the ground, either on takeoff or when it's landing. Once you're up there in the air, it's the safest place for the plane to be. So what you want to do is you want to make sure you pull back, get some clean air, get a successful launch in your business, then you'll start to get the rewards that you want from your business, you'll start to see those rewards, it'll be easier, if not easy, in order to maintain your motivation. And therefore, you'll find that you'll start to go the distance and play the long game.

So it's not for the faint-hearted, it is a challenge, but I promise you it is worth it for the right person.

If you are seriously thinking about launching that business, then as I say before, you really want to make sure you're not making your life harder for yourself than you need to, and therefore, if I may be so bold, a quick plug for my Success Groups Launch. Success Groups Launch is our entry level, if you like, group at Success Groups. We work with businesses from launch, we work with build, so building is when a business is doing 30, 40, 50,000 and we help them to break that £100K mark and we also work to help scale businesses. These are businesses between a hundred grand and half a million, that want to consistently grow and scale their businesses into something of real true value.

So regardless of where you are, I'm talking to you guys at the moment that are specifically in that launch phase, maybe just launching, thinking of launching, dreaming of launching, maybe you've launched, and you're not quite got that pull back and you're not getting where you want to get to. We do have a program that we offer around helping business owners to get everything right at the beginning to maximize what they're doing at that launch phase. So important, there's so much you could do, there's so little you can do, and actually there's such a small amount that you really need to be doing that's going to give you the maximum results. And what I want to do is help people to decipher that, right? And help cut down the journey of growing a business from, you know, maybe this to something like this.

Our ambition by the way with our launch program is to try and compress about two to three years worth of learning into three months. If you're interested, right, in finding out a little bit more, whether that's because you're just in the early days of business and it's not quite working out for you, or you want to make sure you get the biggest bump you can to get started, then reach out, okay? I'll put a link in this post to the next open event where you can come and just check us out. And I'll share a lot of stuff about modelling, I'll share a lot of stuff about the value proposition, maximizing your worth in the marketplace, choosing a target market, incredible value there, right? Just for the investment of your time to spend some time with us. I'll also talk to you a little bit more about this launch program.

If you are thinking, dreaming, come along to one of those as well, and just really see all the questions you need to be asking ahead of time. I wish I had attended this myself when I launched my own business, I did it like a lot of people, you bumble in it, you do the best you can, you fail, you learn, you fail, you learn, and then you work it out. And then, you pick up a couple of really smart people on the way to help you. And then, you start to put it in place and then your business takes off.

I want to help shortcut that whole experience there by getting you really starting with your best foot forward. So yeah, if you want to set up your own business, I promise you nothing more rewarding if you're up for the challenge. However, you know, don't make it any harder than you need to be, maybe come along to one of our little sessions and just see what else you need to be mindful of before you go into that business. And maybe, maybe you'll join us longer term, no pressure whatsoever. And I get to work with you one-on-one with your businesses. Anyway, I look forward to hearing from you, hopefully, look forward to seeing from you, even if I don't hear from you before, every success with your business, I really believe the world needs more small businesses, I believe it's the future of the world we're moving into, which is independent people doing incredible things for other incredible people, rather than be necessarily plugged into dead-end jobs, not feeling the reward, not feeling particularly motivated, not feeling particularly respected, working towards maybe goals that aren't even their own objectives and goals. I believe entrepreneurism is the way forward and if you've got it in you, there's nothing more rewarding. Good luck.

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