As a new entrepreneur, one of the biggest mistake you can make is not realising that we are, in fact, a business owner. This single mistake can really prevent us from achieving better results and a tone of money. Therefore, realising that you are running a business means also realising that many different field/type of skills are required to run a successful business. Those include sales, marketing, accounting, relationship, management, hiring, etc. Understanding all of those required skills is the only way to fully optimize your business. The more knowledgable you are on those subjects, the more leverage you will obtain to affect those variables in your company. Notice that you can, always for someone more knowledgable than you to manage this skill in your business. However, it is always better to have some basic understanding about all of those skills.

The 4 Components Of Every Businesses

Component #1 : Lead Generation

Lead generation is everything that concerns the marketing side of your business. Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

Component #2 : Lead Conversion

Lead conversion is everything that concerns the sales, the copywritting, your offer, your presentation, your landing page/website, your product benefit, etc. Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

Component #3 : Value Delivery

Value delivery is everything about the quality of your services or products or customer service or anything that brings value to the client. Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

Component #4 : Payment Collection

Payment collection is everything about your money collection system. It can either be a membership, pay-per-view, one time payment, payment plan or financing, pay-per-use, etc. Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

The most common problem with new business owner

The most common problem among new entrepreneur is that most of them only focus on one component out of the four. Most of the time, people that are starting a new business tend to focus all their energy on the value delivery component of their business. However, when you are just starting out, we shouldn’t focus on delivering the perfect product. You focus should be focusing on learning how to get people to buy your product or service. In other words, you should make sure to put time into establishing a strong marketing strategy to generates lead as well as a strong lead conversion game plan to nurture those prospect into buying customers.