Business fundamentals

Starting a business from scratch is much easier when you have a useful template to organize your thoughts. ‘The Personal MBA” by Josh Kaufman is something I recommend every wannabe entrepreneur to have by their side all the time. It focuses on actionable insights that are easy to grasp and implement.

Here is one of the first simple but still useful lessons that can help you start a business.

What are the “The five parts of every business”?

  1. Value Creation
  2. Marketing
  3. Sales
  4. Value Delivery
  5. Finance

Let us apply this to a Content Creation Business.

1) Value Creation:

You aim to discover what people need or want and then create it.

Example:

I create content that aims to help people become more productive, make money, be inspired, be informed, and be entertained.

2) Marketing:

You attract attention and build demand for what you have created.

Example:

I create Blog posts and Threads on X. I optimize for SEO on my blog. On Twitter, I aim to create regular content and participate actively in replies to attract attention.

3) Sales:

You turn readers into paying customers

Example:

I have two basic monetization streams at this stage. Google pays me for ads on my Blog. Twitter pays me for its ad revenue sharing. In the future, I want to sell an app, ebook, subscriptions, etc.

4) Value Delivery:

You give your customers what you have promised and ensure satisfaction.

Example:

I aim to create interesting content regularly to keep my Twitter followers engaged and encourage visitors to subscribe and return to my blog. Aim to not lose followers.

5) Finance:

You bring in enough money to keep going and make your effort worthwhile.

Example:

My first payout from Google felt amazing. I look forward to my first payout from Twitter next week as I just became eligible. Aim to keep increasing earnings each month.

Conclusion:

Business is not rocket science.

It is a process of identifying a problem and solving it such that both parties benefit.

The 5 points above are fundamental for every business plan. Clearly define each and you understand your business.

0 0 votes
Article Rating
Hi, I’m Vineeth Naik

Liberal part time Blogger and full time Researcher with a broad range of experience, professionally and personally in Austria, Italy, UAE & India. Loves Finance, Business & Technology. Cares about society.

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x
Index