Grow Your Empire
Why are we here and why are we doing this?
Why do we wake up and decide to build a business?
Perhaps it’s a legacy. Maybe we want to build something bigger than ourselves. Our children come to mind when we think of this question.
When it comes to building a business, Ray strongly believes in asking the following fundamental questions.
What to Ask Yourself Before Building a Business
- Why would anyone want to buy your business?
- Can the buyer plug and play with what you’re offering?
- How tightly is your brand tied with your company?
- Is your name/persona tired to your brand?
- Do you have an A-team in place? It’s important to note that often times buyers won’t need your team. They want infrastructure to scale. It’s important to think about this when building your business.
- Have a star player in place.
- Build for the future and yet act in the present. Pay your taxes, do legal due diligence, and have great customer service. Be clear with who your customer is.
- Understand your demographic
- You want to be able to tell your buyer who the ideal customer is
- Understanding who that customer is is VERY important
- Build relationships with your future buyer
- Know, like, and trust your buyer
- Alexander Carter: Ask For More
- Understand what the buyer really wants
- Do they want your intellectual property? Property?
- Do they want your customer base?
- Be clear on who your customer is
- Understand what you want
- Don’t let ego get in the way of
For more gems, check out this segment of Own Your Future.
Can’t get enough of Ramon? Check out his events schedule at Smarthustle.com.