Building a big business does not have to be complicated. Especially if you are an “idea entrepreneur”, one of those fortunate people who gets paid to think. (If you are a speaker, trainer, coach, consultant, author, or information marketer… This means you.)
There are four overarching components you need to build a really big business as an idea entrepreneur. They are:
- Big Mission. Some will argue that you don’t need this, but I disagree. You need a “big why” to help you stick with it when things get tough. And inevitably, the day will come when things do get tough. The rewards are there for those who endure through the trials. Having a Big Mission will give you the power to endure.
- Big Idea. You can’t play in the big leagues if you’re swinging a Little League bat. You need an idea that’s not just about “how-to” information (in my opinion, “how-to” is next-door neighbors with “me-too”). You need wisdom-level, legacy-building content, and a powerfully articulated big idea. Think 7 Habits of Highly Effective People, Platform, Fully Alive, and The 4 Hour Workweek.
- Big Invitation. My friend Michael Port taught me a long time ago, “Always have something to invite people to.” It might be a weekly teleconference call, or a free online members area. But invite new acquaintances to become part of your world. Don’t be stingy. Offer them something of real value.
- Big Offer. This is where you offer something for sale. A product or service. Calling it a “big offer” is intentionally provocative. I’m not suggesting that you necessarily have to offer something at a ridiculously high price-but I am flat-out telling you that you must offer something with ridiculously high value. That’s where the “big” comes in.
If you are in the business of ideas, make sure these four components are laid into the foundation of your business. If you get these four pieces right, you can mess up a lot of other things and still be profitable.
Question: how are you demonstrating these four components in your business right now? If one of them is missing, what will you do to change that?