What Is a Business Mindset and Why Is It Important? - Domestika

Having a business mindset simply means you understand and appreciate the unique value you offer, and are able to implement and follow a strategy ... BlogWhatIsaBusinessMindsetandWhyIsItImportant? amy.mcgregor Follow Learnhowtodevelopabusinessmindsetandapplyittoyourcreativeworkforguaranteedsuccess Whetheryou’relookingtogetyourfirstideasofftheground,arethinkingofacareerchange,orlookingforwaystoimproveyourbusinessstrategy,havingabusinessmindsetiscrucialtoyoursuccessasanindependentcreative. Wecreativesarepassionateaboutourjobs,andfeelextremelyluckytoworkinthesectorthatwedo.Unfortunately,thiscansometimesmeanthatwedonotrecognizethevalueofourwork,undersellourselves,orgiveawayourskills,knowledge,ortime“forfree”. Remember,creativityisaskillandyouarebringingsomethingdifferenttothetable,soyoushouldbelookingtomakeaprofitonyourwork. Creativityisaskillthatallowsyoutobringsomethingdifferenttothetable. Havingabusinessmindsetsimplymeansyouunderstandandappreciatetheuniquevalueyouoffer,andareabletoimplementandfollowastrategyoractionplanthatensurestherecognitionandfinancialsuccessyoudeserve. 4keypillarsforcreatinganactionplan AbrahamAsefaw(@abrahamasefaw)isacreativebusinessconsultantandentrepreneurwhohasworkedwiththelikesofCoca-Cola,Facebook,andCondeNast.Hebelievesthatanyonewithpassioncansetuptheirownviablebusinessiftheyhavetherightactionplan. HeisalsoaDomestikateacherandanexpertondemonstratinghowtouseabusinessmindsettocreateadetailedroadmapthatwillmakeyoustandoutfromthecrowd,ensureahealthy,sustainablebusiness,andachievelong-termsuccess. AbrahamAsefawisasuccessfulbusinessconsultant,entrepreneurandDomestikateacher. Abrahambaseshisactionplanaround4keypillars: Creatingvalue Firstaskyourselffirstwhatitisthatsetsyouapartfromyourcompetitors.Whatistheuniquevalueyoubringtothemarket?Trytosummarizethisinafewbriefsentencessothatitisclearandeasytomarkettoyourpotentialclients. Youcanalsothinkaboutthekindsofproblemsyouarehelpingtosolveandforwhichgroup,aswellaswhoyouaretargetingspecifically,andwhoelseisdoingsomethingsimilar.Onceyouhaveidentifiedyourcompetitors,youshouldalsothinkabouthowyoucandifferentiateyourselffromthem.Thiswillansweryourclient’squestion“whatuniquevaluewillyoubringmeifIchooseyouoveryourcompetitors?”. Deliveringvalue Youcanhavethebestideaintheworld,butitwillnotsucceedifyoudonotknowhowtodeliverit.Abrahamremindsusthatitisimportanttotakeaholisticapproachbyfocusingonthepre,during,andpoststagesofdeliveringyourproducttocreatethebestpossibleexperienceateverypoint. Soforexample,pre-deliverycouldbelookingathowyouraiseawarenessoftheproductyou’reselling,andhowyouenablethemtomakeapurchase.Post-deliverycanbehowyouaresupportingyourcustomersaftertheyhaveboughtyourproduct,howyoumaintainarelationshipwiththem,andhowtheycanbecomepartofyourbrandawarenessstrategy. Inhiscourse,Abrahambaseshisbusinessplanaround4keypillars. Capturingvalue Creatinganddeliveringvalueareobviouslyimportant,buttheymeannothingifyou’renotmakingaprofit.Dependingonwhichareayouareworkingin,itcanbeeasierormoredifficulttodecideonthepricetosetforyourservice.Themostobviouswaytodosoisthroughmarketresearchandcomparingyourpricestoyourcompetitors,butthereisanotherway. Abrahamintroducesanapproachcalleda“reverseengineeringstrategy”,whichfollowsaverysimpleformulatoworkoutyourfinancialgoals,yearlyrevenue,andhowmuchtochargeforyourserviceorproductbasedonthosefindings.Then,askyourselfwhereyourmoneyiscomingfrominordertoclearly-defineyourincomestreams,beforetestingyourtargetaudiencetoseeiftheyarewillingtopaytheratesthatyouhaveset. Evolving Thefinalpillaristoevolveyourbusiness.Afterall,changeistheonlyconsistencyinlife.Evolvingmaybeadaptingyourbusiness,changingitcompletely,orinnovatingit.Ifyouchoosetoevolveyourbusiness,firstlookatwhatitisexactlythatyouwouldliketofocuson.Isitevolvingyourcurrentoffering?Orisitexpandingyourtargetaudience? Onceyouhavedecided,youneedtoresearchcurrentactivityinthatareaandlookforinspiration.Thiswillhelpyoutogenerateideas,andyoucanpickthemostviableonetotestaprototypeandthenevaluatewhetheritisworthimplementingornot. Abraham'scourseteachessimpleandpracticalstrategiestoimproveyourbusinessmindset. Usingthesefourpillarsasareferenceisagoodwaytobeginthinkingandmakingdecisionsinamorebusiness-orientedway,butyoushouldbepreparedtofollowthroughwithyouractionplanonceyouhavedesignedit. Ifyouwouldliketolearnmoreaboutcreatingyourowndetailedandpersonalbusinessroadmap,thatappliesabusinessmindsettoachievelong-lasting,sustainableresults,thencheckoutAbraham’sonlinecourse:BusinessMindsetforCreatives:MakeanActionPlan. 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