Before Starting A Business, Here’s 3 Questions To Answer

Getting started in entrepreneurship is like being a parent. Businesses need as much time, attention, and energy as babies. At least at the beginning, until they become self-sufficient and raise themselves on their own (not always, but it’s possible). And just like a couple preps for the birth of a kid, hustlers should prep before starting a business.

I’m reminded of this topic because I’ve had some free time since finishing my MBA. Instead of channeling all this newly freed up mental space towards work, I paused to evaluate myself. I needed to be sure that my day-to-day was aligned with my 5-10 year vision. So here I am about to go into complete solitude for a few days… Realizing that most people won’t take 1 hour or even 10 minutes to reflect on whether they’re working towards something or just, working...

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The Problem

The Problem

Most entrepreneurs fail.

That’s the all-too-common tragedy of business. That’s because Business is a hungry vampire that never gets full. Except this vampire doesn’t feed on your blood, it feeds on your energy.

The problem isn’t that we lack systems, teams, or ideas…

It’s that we run out of energy, bounce from process to process, and quit our businesses before we give them a fair shot at turning into giants.

This is a cliche topic that’s not everyone’s favorite. But again and again, we find new entrepreneurs making the same mistake before starting a business, they don’t build around their purpose.

Instead, they have an exciting idea, chase what they feel makes the most money, or go for whatever’s easiest. It’s fun in the beginning. But when that vampire gets hungry in the middle of the night and you’re energy is completely tapped out, that’s when Business starts to backfire:

  • You start looking for the next quick fix.
  • You’re debating which direction to move.
  • You lack focus and switch from idea to idea.
  • Your business traps you like a job instead of freeing you like a boss.

All this can be avoided with a little self-reflection before starting a business (aka giving birth to a vampire).

Discover the purpose of your life and business decisions get easier because everything has to be in alignment with it. Goals and new ideas come to you easily because when you’re in your purpose, every day is a fresh opportunity to achieve something that has special meaning to you. Not to your parents, your friends, or society, but to you, the hustler reading this right now.

On the other hand, without a purpose to work towards, it’s like having a navigation system but not taking the time to punch in a destination. And what good’s a navigation system if it doesn’t have a destination? Useless, right? Without a purpose, it’s easy to find yourself on the “Everyday I’m Hustlin” hamster wheel, grindin’ for as many hours as you can, and still be stuck in the same place.

I know because I’ve been there.

Goals by themselves aren’t the answer, clarity of purpose is what matters the most. 

You probably feel like you have a purpose already. But you’d be surprised when you talk to business owners and ask them what’s their 10-year, 5-year, 3-year, or even 1-year goals are and they look at you as if you have 2 heads. That’s because only a few people take the time to design their lives past the weekend and that’s the difference between those who are just getting by and those who are constantly leveling up in their business.

The Solution

The Solution

You’re reminded how important it is to build your business around your purpose so the next question you have to ask is, how do you find it?

There are good exercises out there so we won’t dig into a specific one here. And ultimately, they all boil down to answering 3 questions:

  1. Who do you want to serve?
  2. What do you want to help them do?
  3. And why do want to help them do that?

Before starting a business, do a deep dive into yourself and answer the questions. And you might notice that they’re based in service to others and I’ll let this quote explain why:

“Successful people are always looking for opportunities to help others. Unsuccessful people are always asking, ‘what’s in it for me?”

Brian Tracy
before starting a business, find your purpose

Answer the 3 questions and of all the paths your GPS can take you, yours will shine bright-like-a-diamond because now you know where you’re going. 

Quick Examples

If you’re a financial planner, you might choose to serve middle-income couples to build their retirement. And you might want to help them specifically because you watched your own parents work until 70 because of a lack of planning.

If you’re an orthodontist selling braces, you might decide to serve young adults by giving them confidence in their smile because other kids made fun of your crooked teeth when you were younger.

Get the picture?

Who – What – Why.

NOTE: Being able to answer these questions doesn’t necessarily mean you found your purpose. It means you know who your business is serving. To truly know if you’re living your purpose, you should be energized when you wake up every morning.

The Aftermath

The Aftermath

Here’s my personal example of how I answered the 3 questions:

1. Who do I wanna serve?

The person I wanna serve is the hustler. That’s the person who decides to start a business in spite of the overwhelming odds and stupid-sad statistics that say most businesses will fail. 

2. What do I wanna help them do?

I wanna help hustlers grow their business by educating them on how to get consistent with their lead generation. And without all the stresses that come from working with the wrong people, applying the wrong systems, or getting sucked into the repetitive hole of failing new thing after new thing. 

3. Why do I wanna help them do that?

I wanna help these people specifically because they remind me of myself. I was in the same place a few years ago where I had no idea what the heck I was doing. I tried and failed in a bunch of areas, trusted the wrong people, invested in the wrong systems, and ultimately found a way that works without all the stress.

That’s my purpose in a nutshell and since getting clear and refocused on the purpose of my life, it’s also why I’ve decided to share advice in mini-chunks like this article. Whether I’m learning from books, mentors, or my own clients, it’s my mission to share what’s working so that the hustlers on the same journey can get more leads and generate more revenue in a lot less time.

Before starting a business, find your purpose by answering these 3 questions:

  1. Who do you want to serve?
  2. What do you want to help them do?
  3. And why do want to help them do that?

Spend some time on this, sleep on it, and once you find your true purpose of being, good luck to all your haters because nothing will ever stop you from achieving it.

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