As children, we were introduced to the W questions: Who, What, When, Where, Why, and sometimes How (it’s apparently like the vowels and their hot-and-cold relationship with Y). Over the next few weeks, as we lead up to the kick-off of the Bionic Business Lab, I’m bringing you back to the online business basics so you can thrive, not just survive.
Last week, we talked about why you have this particular business. Because you can make money lots of ways, but you chose this model for a reason.
Now we need to talk about what your business does and what you, the owner, do.
This can be tricky for many of us, myself definitely included. My business has gone through a lot of transitions over the past 3 years (it started as a freelance science writing/editing endeavor). Now, when people want to refer my work to others, they’ll often come back to me first saying, “what exactly do you do again?”
Talking about what we do is key to getting business! If no one knows the answers to the following what’s, you’re going to be fighting an uphill battle:
- What problem does your business solve?
- What do you do, exactly?
A lot of us in the solopreneur world focus a little too much on number 2 and not quite enough on number 1.
A good business should be based on solving other people’s problems.
You can solve more than one problem under a single umbrella. A designer, for instance, may be solving both general graphics woes along with branding concerns. A freelance writer may be solving the lack of time a business owner has while also providing an answer to said business owner’s own clients.
At Systems Scientist, I help solve the problem of “how do I establish and scale a business online?”
That looks like different things for different people, but we’ll talk about target audiences (your Who) next week.
And the What is also not the How. The How of my business involves a mix of being a generalist business coach and being a specialist in systems and processes.
But the What doesn’t really give a damn about the Who or the How.
The What is the problem that you’re going to do something about.
The lowercase “what” is about you.
What do you do? Because the answer to your What could be various other people’s what’s (holy crap we’re getting a bit Inception-like in this explanation).
When my clients are thinking about the What problem of “how do I establish and scale a business online?”, they can turn to various answers:
- Training programs
- Software as a service
What I do is a mix of a couple of those things. I coach, consult, and train. That is my little what.
When you combine your big What and little what, you get your elevator speech.
I solve [big What] via [little what].
I help [my who] establish and scale their online businesses as a coach and consultant.
That’s right, we’re still missing a piece! And a little flair to make it sound less stiff. But I’m all about the formulas, and by the time this 5-day series is over, we’ll have a pretty kickass pitch (that doesn’t sound pitchy).
So tell me what your What and your what are. Bonus if you figure out how to make it sound coherent with 5 what’s in a single sentence!
Could you use a hand figuring this stuff out?
I work with a handful of creative entrepreneurs 1-on-1 every month.