Entrepreneurs Growth Plugs – Episode 5: The Entrepreneur’s Must-Ask Questions

Welcome to another episode of this series tagged Entrepreneurs Growth Plugs. Thank you too, for the incredible feedback from episodes 1 through 4.

I strongly believe that in the business environment, the ability to ask the right questions and find the right answers or even the wrong answers and fail before finally getting the right one is super imperative in business success. Today, I will share some important questions that every entrepreneur at any level should ask and seek answers as they strive to build sustainable businesses.

 

Ask yourself the following questions. And possibly, if you can get a pen and paper as you go through this, it will be worth it.

 

1. What pain am I really solving?

This question is critical because when you ascertain the exact pain that you want to solve through your business, you avoid the pain of building a product no one will buy or your family members and friends will buy from you out of pity. Here’s one fact, when the right pain point is not ascertained, you will sell to people who can’t buy or won’t buy. You can’t design a product your customers love if you don’t understand what pain they want to relieve.

 

2. What am I building?

Whatever you decide to answer here is directly affected by the first question. You need to clearly and concisely answer this question. Now that I clearly understand the pain point, what do I build that will perfectly solve the customer’s pain. This will help you build a must-have product and not a nice-to-have product for the pain. Build a product that positions itself as an indispensable solution. Note this–building a startup is not about really building something innovative. It is about building The Product that fits the market needs.

 

Also Read: Entrepreneurs Growth Plugs – Episode 4: Listen and Listen Again and Continue to Listen

 

3. Who will I serve?

By now, you should be having a clear understanding of who you will serve. The pain identified in question 1 is definitely linked to a target group of people in society and the product you are building should have certain characteristics that reflect a particular group of people.

 

If you don’t clearly know who you will serve through your business or product, you will sell to people who won’t need and who won’t buy. Identifying the target audience for your products or services is an exercise that will transform your business. The better you understand your target market, the faster your business will grow.

 

4. What is the promise I am making to my customers/clients and to myself?

This particular question, if answered right and practiced effectively, can change the trajectory of your business growth. Business now is more than just exchanging products with money. It’s about having a mission, relationships, kindness, leadership, commitment to go above and beyond. It’s about the higher purpose of service to others and when you make this promise to clients and yourself, results are different.

 

What is your promise to your customers? For us, at COSDEF Group, our promise to our clients is, “We put you first place and serve you with class and excellence.” Every action we take towards a client is backed by this promise.

 

5. What are my objectives, strategies, and action plans (steps) to achieve my goals?

This is definitely one of the most important questions but very few entrepreneurs get to intentionally seek the answers. The majority of entrepreneurs operate like they are on autopilot. Always have clearly defined objectives, executable strategies on how you will achieve the objectives and most importantly, action plans with dates and who to hold responsible when objectives are not achieved and who to celebrate when the objectives are met.

 

Entrepreneurs often are overwhelmed by the number of tasks they need to accomplish on a daily basis. When you have a detailed objective, strategy, and a detailed action plan, it becomes easier to evaluate the urgency of the tasks, to determine what tasks to focus on.

 

If you went through this just for reading sake, it’s time to practice. Get a pen and a book and do your best to provide answers to the above questions. You don’t guesswork and build a great business.

 

See you in episode 6. Super interesting stuff coming.

 

Book me now for your team (staff) results enhancement, business growth, personal productivity, digital/tech services, and more.

 

Call: +237 656-140-207

 

Email: javnyuy@cosdefgroup.com