Many early-stage entrepreneurs discover that growing a profitable business is hard. When you’re in the early stages, it’s tempting to look at other people’s business and try to reverse engineer success based on what we see other people doing. 

It’s not the external things that allowed others to build profitable businesses. Businesses don’t make money because of the external things you can see, but they make money because they are built on a strong foundation that you can’t see.

Building a business with no foundation is like building a house but spending all of your time and energy picking out the paint colors and fixtures. You have to make sure the actual structure of the house is sound!

To have a strong foundation as a creative entrepreneur, you need 5 things

• Vision: You need to know what you want the business to become in 10 years
• Marketing Plan: You need to know and understand your ideal client and how you are going to reach them consistently.
• Financial Plan: You need to price your services adequately to cover your expenses, taxes, personal salary, and yes, profit. 
• Systems to Scale: You need to take a systems approach to everything you do in your business so that you can grow and scale.
•  Short term goals: Be specific about what you are trying to accomplish in your business right now and map out the action steps that are going to get you there

References and Links

E-Myth, Michael Gerber

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