Tuesday’s Tips — Starting a New Company Initiative

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Are you trying to build something brand new or start some initiative or build a new business or launch something new that hasn't been done before by you or maybe even by anybody? You might find it difficult. Hi, my name is Bill Gallagher, Scaling Coach, host of the Scaling Up Business podcast. We've got shows like this, hundreds of things that are helpful for you, interviews and more wherever you get your podcast and video content or at our website scalingcoach.com so go to scalingcoach.com, you'll get all these kinds of things, searchable. You can find something that relates to something you're dealing with, I'm sure, in growing and developing your company. All right, so listen, I've had a couple of companies do this and they're working on launching a new thing or they're launching a brand new company in a new sector and they're finding it really, really difficult to do and to think of in mind. And then they end up making really expensive mistakes because it made sense and they laid out the plan, but in reality it didn't turn out that way. So there's two things that really make a big difference here. First of all is we want to start with the end in mind. We know this from Stephen Covey. Starting with the end in mind, planning backwards from a future that's never been, working at what came before and what came before getting back to the present state of where we are now and asking ourselves through that whole planning process what's most likely to go wrong. Now the last thing we want to do is use bullets before bombshells, as we learned from Jim Collins and others. We want to play some experiments and don't expend all of our resource until we've proven something works just because you hear it's worked for a bunch of other companies or stuff. Don't devote most of your marketing budget to that or your development or whatever until you've tested and tweaked it. So hold something back back. Do little tests. Prove out concepts before you pour your heart and soul into it. Don't bet everything right in the beginning. Hope that's helpful for you. We'll talk to you again next time. Like subscribe get these things every week Keep Scaling Up.

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