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Episode 61 | What Stage Of Business Are You and Intro to the PDSA Cycle!
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We’re Here for You!
In this episode, we speak about the Plan Do Study Act (PDSA) Cycle and how it relates to the three phases of business which are essential for any business to go through.
The three phases of business are similar to building a house or a skyscraper!
- Discover It - You may be ashamed of not figuring out what business venture you will want to start at the first attempt… or worse yet.. you feel like you have failed at the first business you attempt… but this is not a failure. It is simply you exploring different options to see what idea, service, or product offering will fit your lifestyle, passion, and personality! This is similar to laying the foundation of a house. You would never build a skyscraper building on a swamp… find a strong foundation, before you start building and you will be unstoppable!
- Build It- When starting a business, you need a community of buyers, and having brand name awareness will make your product or service even more valuable as copycats won't be able to touch you! Using different methods such as influencer marketing will help you build connections with the community and spread brand name awareness. Collaborations are another key way to ensure you’re building your business.
- Scale it- this is the time in business when you expand to different distribution channels and consider investing even more in paid advertising to really market your business so you can continue reaching a broader and broader audience.
Any time you move from one phase to the next, or you change one element in your business, you should run through the PDSA cycle and ensure you are measuring the change with Key Performance Indicators (KPIs).
You might make a change to help build your audience but what are the KPIs that you will be measuring to ensure the change was positive or negative? How long will you test out the change before you call it quits or decide if you will continue keeping the change?
We speak about all of these items in our Behind The Scenes Mentorship (BTSM) Program to help you move from one phase of the business to the next and ensure you meet your goals in a structured PDSA format!
If you want to learn more, email us at [email protected], or listen to the instructions associated with the pre-roll!
Head to bossitclub.com to check out other fantastic podcasts and masterclasses!
XO,
Sophia.
A Team Dklutr Production
Join Our Community: Transform Your Side Hustle into a Full-Time Venture
We are thrilled to offer you a free opportunity to join our community. A select number of students will receive complimentary mentorship on how to scale their side hustles into sustainable ventures. To secure their invitation to the program Click HERE to get started. We look forward to supporting your journey!
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By Sophia Syed
5
1616 ratings
Send us a text
We’re Here for You!
In this episode, we speak about the Plan Do Study Act (PDSA) Cycle and how it relates to the three phases of business which are essential for any business to go through.
The three phases of business are similar to building a house or a skyscraper!
- Discover It - You may be ashamed of not figuring out what business venture you will want to start at the first attempt… or worse yet.. you feel like you have failed at the first business you attempt… but this is not a failure. It is simply you exploring different options to see what idea, service, or product offering will fit your lifestyle, passion, and personality! This is similar to laying the foundation of a house. You would never build a skyscraper building on a swamp… find a strong foundation, before you start building and you will be unstoppable!
- Build It- When starting a business, you need a community of buyers, and having brand name awareness will make your product or service even more valuable as copycats won't be able to touch you! Using different methods such as influencer marketing will help you build connections with the community and spread brand name awareness. Collaborations are another key way to ensure you’re building your business.
- Scale it- this is the time in business when you expand to different distribution channels and consider investing even more in paid advertising to really market your business so you can continue reaching a broader and broader audience.
Any time you move from one phase to the next, or you change one element in your business, you should run through the PDSA cycle and ensure you are measuring the change with Key Performance Indicators (KPIs).
You might make a change to help build your audience but what are the KPIs that you will be measuring to ensure the change was positive or negative? How long will you test out the change before you call it quits or decide if you will continue keeping the change?
We speak about all of these items in our Behind The Scenes Mentorship (BTSM) Program to help you move from one phase of the business to the next and ensure you meet your goals in a structured PDSA format!
If you want to learn more, email us at [email protected], or listen to the instructions associated with the pre-roll!
Head to bossitclub.com to check out other fantastic podcasts and masterclasses!
XO,
Sophia.
A Team Dklutr Production
Join Our Community: Transform Your Side Hustle into a Full-Time Venture
We are thrilled to offer you a free opportunity to join our community. A select number of students will receive complimentary mentorship on how to scale their side hustles into sustainable ventures. To secure their invitation to the program Click HERE to get started. We look forward to supporting your journey!