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Steps For Building A Business—And Succeeding

Monday, February 6, 2023   /   by Nick Waldner

Steps For Building A Business—And Succeeding

The secret to building a quality business comes down to this.

 

For all of my entrepreneurs out there, we’re talking about how to build a great business, no matter what that business is. Yes, I sell real estate, but I also understand the value of building a business, and that's what I've done with mine. So let's go over a few quick things so you create the best business possible. If you own a business, think about what you should have done or could go back and do. If you're thinking about starting a business, this is where you start.


It starts with researching the opportunity; who's doing what you want to do the best? What are the top 3 to 5 things they’re doing to crush the competition? Now that we start to understand who's winning, what can you do just a little bit better? We don't have to create massive change. We don't have to reinvent the wheel. But we have to beat the best at their own game. So start thinking about what you can do to achieve that.


Now, as you do, you will start understanding your value proposition. Where are you positioning your company? How are you showing value to the people around you? Start moving in that direction. What's your mission? Vision? Values? What does your sales funnel look like? Who's your avatar? Start building that stuff out now so that you understand what you're trying to do and who you're trying to do it for.


Once you've built that and started that process, develop your Disney map. Now, if you don't know what a Disney map is, Google Walt Disney, Disney map. This man, in the 1950s, way before he had anything, built a map of everything that he wanted to create and how it was all interrelated. Want to go one step further? Google his org chart. He had an org chart of everyone he needed to create his vision before he even started the first inkling of the company. Now that's planning.


Build your vision map and your org chart, and then figure out the five people in that org chart who will make the biggest impact. The five leaders, the five people who are going to make all the vision possible. Go out and start building an understanding of what they look like. Who are they? What are their skill sets? What have they done in the past? What do you want them to do for you? Build out their job descriptions, expectations, and what you want from that hire. Understand their key metrics, what they're trying to grow, and how you will judge whether they're doing a great job.


Once you have that, hire the first one. Hire the first one, and build your 90-day plan. Understand how they win in 90 days and how they lose in 90 days. Did you make the right hire? You'll know if you have a way to track them over the first 90 days.


From there, build your company. It's all about training and research. You should have a research company and a training company. Everything you're doing is understanding the market you're in, what you're providing, what your competition is providing, and how you can improve on that. Massive change comes from small improvements. So start looking for ways to improve your company every single day, and you'll look up in a few years, and it'll be a completely different company, something you probably didn't even imagine you could get to in such a short period of time.


If that was exciting to you at all, and you are weird like me, and you like building companies and growing businesses, reach out any time. I'm happy to talk about entrepreneurship, building businesses, or the specifics of what you're looking to build.

 
Waldner Winters Team of Keller Williams Realty Centre
Nick Waldner
9250 Rumsey Road, Suite 100
Columbia, MD 21045
410-505-8268

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