Becoming an entrepreneur is one of the most exciting things a person can do. The thrill of going it on your own, of making your dream come to life and living your passion is an unparalleled experience. It is a wonderful adrenaline rush of the feelings of being confident, joyous, excited, making a difference, feeling invincible and completely vulnerable all at once.
A common reason people become entrepreneurs is that they have a drive and passion for a specific product or service and want to share it with the masses. They often have experience with that product or service and a genuine interest in providing it with added value, benefiting more people, and hopefully earn a substantial income.
Entrepreneurs are passionate people and that passion is felt by everyone who interacts with them. Being able to harness the passion into a successful business starts with not only knowing what you are selling but also knowing why you are selling it. If you are passionate about health and fitness, being able to articulate WHY you are so passionate is a very powerful way to get business. It is often referred to as your “Why Statement” (why are you in business).
The next step is to develop a “Who Statement”. The Who Statement is about knowing specifically WHO your product and service will benefit the most, and WHO you are as a business owner. Understanding everything about your ideal client is crucial. Are your clients in a specific age or gender? Do they live in a certain area of town? Are they internet users? Are they interested in having a transactional or ongoing relationship? Do your clients have a specific amount of experience, education or income? Who do your clients associate with?
For you as the entrepreneur, understanding who you are is crucial as well. Who do you want to be for your clients – the expert, the consultant, the collaborator, the supplier, the go to person, etc? Who will you become as a successful entrepreneur – happier, more astute, more knowledgeable, more giving, less stressed, more focused, more engaged with family, friends, the community, etc?
From my experience coaching many successful people, entrepreneurs with a solid “Why Statement” and “Who Statement” are more successful, more joyful and have a greater impact with their business. Having Why and Who Statements provide the opportunity for perfect alignment between entrepreneur (supplier) and client (customer). And when there is perfect alignment, it is a win-win for everyone involved.