The 4 Seasons of Business Growth – 2 of 5

TRANSCRIPT

Okay, continuing our conversation about the four seasons of business growth. In this video, we’re going to talk about the first of those seasons. The spring or the learn season.

I can always tell an entrepreneur that’s in the learn season because they’re primarily talking about the idea. What is the big idea? How am I going to change the world? One time I was at a business seminar for a very well known business author. At the end of the presentation, there was a time for Q&A. A man raised his hands and he started asking the question, what do I do if I have a phenomenal business idea for the auto industry? He was asking basically, how can I sell my idea without putting any work into it and make millions of dollars from the great idea. What the speaker said was, in essence, continue to follow your dreams. What I wanted to say to the man was, your idea isn’t actually worth anything. Until you put legs on an idea, it’s just an idea.
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When I talk with an entrepreneur with a great business idea, the first question I’ll ask is, what talent do you have that can help that idea come to fruition? For example, you might have the idea of becoming the next star on American Idol. But if the reality is that the voice in your head doesn’t sound as good as the voice that comes out of your mouth, then there might be a problem.

The third question and the third thing to think about during the spring season is, what education do I need to be able to move that idea into a product or service?

When you think about creating a product or service that are three fundamentals. The first is creation, what does it take to create your product or service? The second is production, what does it take to produce that on a major scale? And the final is distribution, how do I get that product or service into the hands of my customer?

Let’s say you’re a songwriter, you might write an amazing song in the shower. The fact that you can write a good song doesn’t necessarily mean that that song is gonna get played on the radio. Before you can get that song to the radio, to your customer, you have to first create it and then you take it to a studio where the song is produced. Now you’ve got drums and vocals and all the background music. But even if I produce my song excellently, it doesn’t mean that it’s going to get played. Now I have to connect with an agency or a distribution channel, maybe it’s an online streaming mechanism so that my song can get heard by my potential customers. Turning an idea into a business, you have the creation phase and the production phase, and the distribution phase.

If you have a great idea, great talent, and the education necessary to create, produce, and distribute a product or service, now you can start thinking about launching your business.

In the next video, we’re gonna talk about the fundamentals necessary to launch a business. If you need help launching your business, please visit growability.net and get your hands on a copy of the Growability workbook.

This workbook is designed to help organizations grow leaders, and to help leaders grow organizations. While you’re there, check out the Daily Business Question video blog. Where you can get in your email inbox, answers to common and not so common questions for growing a non profit or for profit organization.
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