Understanding the 7 Fundamentals discussed in growing a legacy business is crucial in making the income and the impact that you are looking for as an entrepreneur.
The first fundamental is your Mindset. In order for you to grow a legacy business, you need to have a long term mindset, a legacy mindset, it's what I call it. You want to be in your business for the long term, and you want to be able to connect your business vision and mission to your personal live's vision and mission. When the two connect and you are emotionally attached to the reason WHY you want to make the impact that you want to make with your business, then, of course, the day to day challenges that come across your way are going to be much more easily tackled and manageable.
The second fundamental is Branding. Everything in life and in business is about positioning. You want to be able to position yourself as your personal brand. This is similar with your business and your offers. You want to be the authority in the marketplace. So branding yourself and understanding how to articulate what you do and why you do it is crucial in speaking your audience's language. You also might want to consider what is the value that you offer in the marketplace, through your business model which is really important in order to help you stand out from other people that are offering similar things. Ensuring that you're the story of your brand, your message, why you do what you do is all crucial components that make up your overall personal brand umbrella. You want people to build trust with you and that's how you get known so that people can start to really build a meaningful relationship with you in the long term.
The third legacy framework is Marketing. I have learned in my career and in my experience, that you can be amazing at what you do, you can have an amazing offer, you can have an amazing solution to the problem that you want to solve in the marketplace, or to what you want to bring out there to the world in general. However, unless you understand how to market yourself and your business, then of course, you cannot make the impact and the income that you are looking for. So this is why marketing is the next fundamental that you need to learn as an entrepreneur. Marketing is all about taking the branding, the authority building that you have done already and strategize on how is it that you can consistently add value to your potential prospects lives or the people that you want to serve in general. So that is the main function that marketing has in helping you stay consistent and stay top of mind while having the attention of the audience that you feel called to serve.
The next fundamental is Sales. Sales is what actually brings in the money to your bank. It's what creates the much needed cash flow in your business so that it can survive and thrive. Sales is really the final verdict, between your mindset, branding, marketing, and when you get to the sales part that is where you learn how to connect all the prior dots between the rest of the fundamentals so that you are closing and keeping your ideal client long term. In a nutshell, that is what sales is. And it's very important to understand how to have a very intuitive, authentic and heart driven sales process in your business that makes sense to you and internally aligns with you so that you don't feel like sales is icky and makes you want to refrain from it.
The next fundamental is Systems. Creating Systems and processes in your business sets you free. Staying aware around the tasks that keep repeating is important in knowing how to delegate them out. In order to delegate, then you can decide which automation tool to implement or which team member to bring on board. Systems also help you ensure that you can make your business scalable. If not done properly, then you run the risk of burnout or lack of long term sustainability.
The last fundamental is hiring the right Team. It absolutely takes a team to build the dream. In order to stay aligned with your natural abilities, you need the support of a team that can complement you. This way you can leverage your abilities, skills and time in order to be able to have your business support your personal life goals and vision.
To recap, these are the fundamentals that you need to implement in your business in order to build a strong foundation on top of. This is what the amazing brands you already know, love and follow do.
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