I found this really cool post from Andrew Wilkinson on X. I recommend his book Never Enough: From Barista to Billionaire by the way.
I posted a while back about what is a business and I thought I would add a checklist on what a business or entrepreneurship is – thinking about it from First Principles. The reason for this is people I have met who want to be entrepreneurs are too focused on either the money they are going to make or the product they are going to build. I think that’s the wrong approach.
- What problem is your product or service you solving?
- What value are you giving?
- What is your WHY? What is the mission and vision?
If the answer to these three questions are solid and you slowly start your business, ask:
- Are you communicating this message to your customers clearly? (Read Building a StoryBrand by Donald Miller)
- Are you repeating your message? (There will be always new people who haven’t heard about what you do)
- Do you have the right team?
- Do you have systems in place? (could the business operate without you?)
- Are you taking care of your employees?
- Are you getting feedback from customers and employees?
- Are you iterating your business and operations from feedback? ( Success is 10,000 iterations!)