Happy Friday!

Before we start, take a moment to applaud yourself for embarking on this courageous entrepreneurial journey.

Today, I want to share something that might just reshape how you view starting your service-based business.

Imagine you're learning to walk – and suddenly, you set your sights on sprinting like the legendary Usain Bolt. A tad intimidating, isn't it? Well, starting a service-based business is a lot like those first wobbly steps.

Sure, we've all heard the success stories of businesses offering services that are "10 times better than the rest." It sounds inspiring, right? But attempting the same from day one might be your biggest pitfall.

Consider the journey of renowned life coach Tony Robbins. His early workshops were far from the mega-events we know today. Robbins started with a vision, not perfection. Just like you.

Face it – you're just starting. Money's tight, resources are scarce, and crafting a service that outshines the competition seems like a distant dream.

Building a product or service that blows the market away? Unlikely at this stage. And that's perfectly okay!

Learn to embrace the fact that you're not expected to have it all figured out from day one.

What else is coming up:

📈Tips: Small Beginnings, Big Results: Essentials for New Businesses

☕️ Stories to remember: Beyond Resolutions: Practical Goal Mastery Guide

👀 Exclusive insights: Must know Trends for a competitive advantage

💫 Resources: An online community for small business owners

📈 Tip of the week

Smart Tips for New Businesses: From Launch to Growth

1. Start Small, Think Big:

• Begin by offering a simplified version of your service.

• You don't need a full-fledged platform or an extensive service menu from day one.

• Focus on a niche or a specific aspect of your service where you can excel and stand out.

2. Build Relationships:

• Attend local events and leverage word of mouth.

• Engage with your early customers on a personal level, make them feel like valued.

• Their feedback can be gold for refining your service.

3. Embrace Imperfection:

• Your service doesn't have to be perfect initially.

• Launch with a minimum viable product (MVP) and refine as you go based on real-world feedback.

• Learn from the flaws in your early offerings and use them to enhance your service gradually.

4. Strategic Pricing:

• At the initial stage, pricing is crucial.

• Be competitive, but also consider the value you provide.

• Offer introductory rates or early-bird specials to attract your first customers.

5. Continuous Learning:

• Stay informed about industry trends and innovations.

• Even though you're starting small, keeping an eye on the bigger players can inspire innovation in your approach.

☕️New Episode: Systematic Goal Setting with Timely Planning and Aligned Strategies

Welcome to the December special episode, where we delve into how to set and achieve the right goals. Let’s discuss why most New Year resolutions often fizzle out and how to break free from that cycle.

I share my take on setting goals that aren't too big or too small but just right, so you stay motivated, not overwhelmed. From my personal experience, I have learned the importance of breaking down monumental tasks into bite-sized actions while periodically revisiting and tweaking your strategies.

It's about progress, not perfection!

Tune in for a confidence-boosting conversation on setting goals that truly resonate with your authentic self. Trust me, your dreams are within reach.

Available now on Spotify, Itunes, Amazon Music & Youtube.

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👀 Industry Insights

Small business trends you should know about to stay ahead of the game in 2024. Business Trends You Must Know to Stay Ahead of The Game for 2024

Marketing Trends

Social media spending will increase.

• Social media will increase from 55% to 57% of overall global ad spend next year.

• While Ads can bolster organic growth, organic approaches like content marketing could have a better return on investment.

Marketers will leverage their best customers.

• During uncertain market conditions, businesses will rely increasingly on existing customers to drive sales and weather economic headwinds.

Tech Trends

Generative AI will disrupt business operations.

• More and more people are expected to immerse themselves in tools such as ChatGPT and AI tools.

• Small businesses will encounter more AI tools to revolutionise their operations.

Automation will become more important.

• AI-powered automation will work alongside existing tools to streamline processes and get more done in a shorter amount of time.

• Additionally, automation will play a major role in creating more personalised recommendations for consumers.

These are just a few of the many ways business is changing. Keep an eye on trends like those above and anticipate what they mean for your business. You can gain a competitive advantage over your competitors

💫 Resources

🌐SmallBizClub: an online community for small business owners. It features articles and insights shared by entrepreneurs and business experts. Use this to grow your network and learn from other successful entrepreneurs.

📊 Noobpreneur.com: This platform targets small business owners and entrepreneurs with articles on business trends, marketing strategies, and practical advice. An amazing platform for learning the market trends and industry insights.

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"The best knowledge is the one we share with others."

See you next week