Starting A Business In 2021

Will You Be The Tortoise Or The Hare When Starting A Business In 2021?

Thinking about starting a business in 2021? Make sure you have a plan in place. It is better to be the tortoise rather than the hare!

Hi Trish Davies, here from TrishDaviesInternational.com and BuildYourAU.com. The vast majority of the world will be glad to see the back of 2020. With 2021 just around the corner you may be thinking of starting a business in 2021. Will you be the tortoise or the hare?

Now you may be wondering what on earth I am talking about, a tortoise and a hare? Well, I refer to one of Aesop’s Fables, The Tortoise & The Hare. The story of the race between two unequal partners to see who could get to the finish line first.

Fed up with the Hare’s arrogance the tortoise challenged the hare to the race. On any normal day the hare would win at a canter but because of his arrogance he took his eye of the ball.

He decided to take a nap hallway through the race only to see his competitor had slowly moved past him. To the point of having already crossed the finish line and won the race.

Now you probably still wondering how this has anything to do with starting a business in 2021. Well, I am going to put a twist on this classic story like so many have done before me.

What I am going to do is put two imaginary business owners head-to-head who both want to start a business. One will be the tortoise and the other obviously the hare to see how they get on in the business world.

Starting A Business In 2021 – A Story Of Two Strategies 

As I have said I will compare the strategies of two imaginary business owners who want to start a business. We will start with the one who has no patience and wants to get to the finish line as soon as possible.

The Story Of The Hare 

January 1st comes along, and this business owner has come up with an idea for a new business. He thinks it is the next big thing and will make him millions over the next 12 months and beyond.

He is so convinced that his idea is a winner that he spends thousands on product inventory. Right off the bat! Then he realise he needs somewhere to sell his products from so he decides to have someone build a website which costs thousands again.

Sitting there with a new fancy website he expects the sales to start coming in like a torrent. All he can see is the money flooding his bank account, enough to buy his new house and flash car.

After just a few weeks he starts to get frustrated and can’t understand why hardly any sales have materialised. At this point he is sure that his idea will take off, so he is not too unduly concerned.

Weeks and weeks go by though and the situation hasn’t got any better. No money coming in and a lot of money already spent. Things start to look dire, panic sets in, then realisation that his next big thing is a massive flop.

By then end of the year the website is taken down, he can’t pay any bills, he is deep in debt. The only option is to close down, file for bankruptcy and sink into the background with his tale between his legs.

The Story Of The Tortoise 

January 1st comes along, and the tortoise has spent some time over the Christmas period formulating a plan of action. He too has an idea for a business and is confident that he will be successful if he follows his plan. His plan looks like this.

Market Research 

He has taken the time to gauge whether there is a demand for his idea. Also, he has looked at the competition and the products and services that are available in his niche.

During his research he realises that digital products have massive potential. This is due to low creation costs and high retail prices; therefore, margins will be very healthy.

Product Sourcing 

Again, during his research, he found out that you can license other peoples products. Alternatively, he can sell these products and receive a commission when he makes a sale. By doing this he can test the market for final validation that his idea is a winner.

Now the license is under $100 and promoting other peoples products doesn’t require any initial financial outlay. He decides to take the second option to do his testing with the knowledge he can purchase a license to a similar product. That product could then effectively become his own as he will become the license owner.

Advertising & Marketing

Now the tortoise realises that to make sales he must do some advertising and marketing. Sales won’t just appear out of thin air! The trouble is he hasn’t got any idea on how to do this, so he researches appropriate training courses.

Once the advertising and marketing strategy is in place he then creates his marketing system. He has learnt that you need webpages as a gateway to making sales.

Again, having done his due diligence he either creates them himself or gets someone to do it for him. To save time he asks a highly talented website designer to create a simple marketing system.

Everything is now set up, so he starts to market his new business. The thing is it has taken him 4 months to get to this stage because he has followed his plan.

He hasn’t approached it like a bull in a china shop, he has systematically created his business backed on data that has been researched.

So, he starts placing ads, creating content and sales start to drip in, then become more regular. He starts to become profitable meaning his sales are more than his advertising costs.

Scaling A Business 

Nine months in he has a healthy amount of sales, cash is flowing into his business, so he moves to the next phase. That is scaling his business, so he looks at the product license option but decides to create his own products and services.

He has a healthy client base, has engaged with them, and asked them what they want to purchase next. He then creates what his audience is asking for and demanding and sells more units than he ever hoped he would.

By the end of the year the tortoise has a viable and profitable business. He also has a lot of satisfied customers who will buy from him again in the future. He may not be a millionaire as yet but is well on the way to achieving his goals that he set out in his planning stage.

The Moral To Starting A Business In 2021 

The objective to starting a business in 2021 is to get from point A to point B. Point A is where you start, and point B is having money flow into your account. The moral is that you can’t get from one point to the other unless you have a plan in place between those two points.

The business owner who was the hare didn’t have that approach and it backfired big time. The other business owner, the tortoise, had a calculated plan of action that he followed to the letter.

My training program called Build Your AU took me around a year to develop. It involved all the stages in the second scenario and more. I now help business owners come up with an authority business model.

That model consists of products and services which have been researched, they are in demand. Then I help those business owners develop systems which can then be marketed to a definitive audience of hungry buyers.

There is no guess work when you do things properly. You are thinking about starting a business in 2021 otherwise you wouldn’t be here. My training programs will help you set your goals and then achieve them, only if you put the work in though! To learn more about Build Your AU click on the button below and register for a video series. To your success in 2021.

A life of freedom and choice

Trish Davies

Trish Davies International