A lot of people ask me what the steps to starting a successful business are and I thought I’d try to articulate some of my thoughts here. Of course, this could end up going in to a lot of detail, so for the purposes of brevity and to make this information easy to consume, I’ve decided to split it up in to a number of posts.

In this initial post, I’ll focus on outlining the high-level ’steps’ and then go in to more detail on each one in subsequent posts. Hopefully at the end, I’ll have compiled a mini treatise that can be read in short spurts or all at once, depending on the reader’s time and of course willingness to invest that time to learn.

Keep in mind that I have a passion for food and technology…. after all, I’m a restaurateur and technologist. So my perspective is naturally slanted towards these areas. Therefore, what I have to say, may or may not be applicable to all businesses or all industries.

The keys to starting a successful business:

1. Identify a problem

2. Articulate a solution

3. Develop the solution

4. Test the solution

5. Sell the solution

6. Refine the solution

7. Enhance the solution

I’m sure most of this seems simple and of course logical… and if that’s what you think, you’re right. After all, this is not rocket science.

But the real work comes in the execution… and of course, the details of each one of these ’steps’.

Stay tuned as I try to dive deeper in to each one of these over the next little while.

I spend a lot of time listening to people… when somebody is talking, its only polite to listen. Plus, its important to focus on what somebody is saying so you can properly digest it and respond accordingly. But… why can’t people just get to the point?

I’d say that in probably 90% of the conversations I have, people just ramble… they try to impress me with their knowledge of the buzzwords of the day, dropping some names of people that they (allegedly) associate with, and often repeat what they say, but using different words.

When I speak, I try to get to the point… because my time is important to me, and so is your time, at least to me. It’s not that I think my time is worth more than yours, but its more a matter of trying to get all the things I want to get done in a day, and respecting that you might have a lot of things to do too.

When I talk to my clients (or prospects), I make sure my message is clear and concise. I know they don’t have time, and I also know that they appreciate when my message is to the point. What they really want to hear, concisely of course, is ‘what’s my point’… why am I telling them what I’m telling them.

I often talk about ‘telling it like it is’ and part of that means to be concise. If something sucks, then say it sucks (maybe use the appropriate word). If the person wants to know why, or asks for more details, then offer them up. It seems like everybody wants to give me the whole story and make me guess that what they’re really saying is that it sucks.

So the next time somebody asks you a question or you’re telling somebody something, get to the point as quickly as possible.

A lot of people don’t really know what they do. Or at least don’t know how to say what they do. Many, when asked, state their job or their title.

For example, when you ask a Lawyer what they do (obviously before you know that they’re a lawyer), they will tell you that they are a Lawyer. But does that tell you what they do? Do they sue people, do they defend? Do they write contracts? Do they mediate divorces? What really does a Lawyer do? Other than charge lots of money :-)

Or what about a CEO of a company… what do they really do?

I came across an interesting quote from Barbra Streisand (the famous Singer/Actress) that got me thinking:

“You have got to discover you, what you do, and trust it.”

So I gave this some deep thought and realized something about myself… I figured out what I do. Not just what I do, but what I love to do!

“I build companies”.

Thats right… I have learned to sum up what I do in 3 succinct words. And now, I’m trusting it, going with my gut, and getting involved in a number of startups. And, I’m having the time of my life!

No particular type of company per se, but I tend to gravitate more towards companies that are involved with technology, particulary as it relates to using technology to solve business problems. I’m also very involved in the food/restaurant business, travel, television/film, and anything entrepreneurish.

So the next time somebody asks you what you do, make sure you tell them what you do… not your job title or profession.

Do you know what you do?