The Purpose of a Business.
The Requirement And Role Of Price

The Purpose of a Business And The Requirement And Role Of Price

Want to know the purpose of a business? Then consider the following requirement: Any
business that will succeed must package and price it's magic in such a way
that it delivers a consistent and reliable impact over time.

Purpose of a Business Requirement One. Know The Real Reason Your Business Exists.

When you start your business, you must have a clue of the real reason your business exists. The purpose of a business is that it follows this requirement:

    It exists to benefit a niched cluster of people, either by solving their problem, making them feel better…or both.

So you must know what the purpose of a business is and it’s requirements before you can successfully bring your business to life.

Purpose of a Business Requirement Two. Know Your Magic.

When searching for the real reason that your exist, you must first take notice of your magic.

  • Your magic is that part of you that is grounded by knowing that when God made you, He made you with a special and unique gift.

  • Your unique gift stems from the all of the components that make - your passion, your skill-set, your past experiences and knowledge-base and your purpose.

  • Thus, your magic is essentially THAT thing that will be delivered by your business to the world.

Purpose of a Business Requirement Three. Package Your Magic.

Your business has to be designed so that your gift can be given at it’s greatest impact.

  1. Thus, you must know, in specific terms,

    -  What it is that so unique and special about what you do?

    -  What is it about your business that will make your customers crave you
        more than chocolate?

  2. You must know how you will use your magic to impact their lives.

Purpose of a Business Requirement Four. Know Who Your Magic Will Impact

It’s not enough to launch your business with the expectations that everyone will automatically cling to that thing that you do.

Your business has to meet the needs of somebody - some special group of people who are desperately searching for the type of magic that you deliver.

It’s both your duty and obligation to figure out which cluster of people really wants, desires and needs your level of magic to impact their life.

Purpose of a Business Requirement Five. Know The Realities of Making A Living With Your Business.

Making a living with your magic is one of the most difficult challenges passion-based and purposed-based entrepreneurs face.

This is because you want to deliver your magic so badly that you overlook the importance of what it will realistically take to sustain you, your magic, your lifestyle, your business, and the needs of your customers.

Here are the facts:

  • You may have the magic.

  • You know how to describe your magic in exact terms.

  • You may have thought about how to use your magic to impact the world.

  • You may have even matched your magic to that cluster of people who desperately seek what you offer.

  • But…you until you have designed your business to earn the amount you need to sustain your life , your business, and the needs of your clients, you won't have a business.

Purpose of a Business Requirement Six. Understand That Your Business Can’t Sustain It’s Existence If You Can’t Exist.

When you put your magic into the world, you have to be aware of this reality: you need money to exist

You have to have enough money to live, eat, and sleep as well as invest in the tools your business will need in order to deliver your special brand of magic.

Now, don’t get me wrong, there are a few people who have been able to deliver and sustain their magic day after day without having to make money to sustain it.

But for the rest of us, we need to know how to design our business to bring in enough cash so that we can continue to live and give birth to a business that will consistently

  • deliver our brand of magic to a hand-selected niche of people,

  • who desperately seek our magic and will fall so head over heels with what we have to offer,

  • that they'll gladly pay us a fair price for our magic as their way of saying "Thanks."

Purpose of a Business Requirement Seven. Deliver Your Brand of Magic At Varying Price Points

Challenge yourself to start a business with the goal of  using your magic to impact the world.

However, you will not be able to fulfill this goal if you never charge for bits and pieces of your magic.

  • Find a way to break your magic into bits and pieces of digestible and priceable, chunks of magic, then

  • Charge a fair price for each magical chunks.

  • Some of your magic chunks should be given away for free.

  • Others of your magic chunks should be priced at price that is low enough for your customers to nibble and enjoy.

  • Still other of your magical chunks should be priced in such a way that it allows some of your customers to enjoy a delectable five-course-magical-feast.

Purpose of a Business Requirement Eight. Find A Pricing Plan that Benefit Both You And Your Customer

To make a living with your magic, you must realize that it is both possible and acceptable to price your magic in such a way that it benefits both you and your customer.

  1. Thus, your pricing strategy should,  satisfy your need to give your magic, satisfy their need to receive what it is that you are giving, and satisfy your business’s need to be healthy enough to consistently and reliably deliver your branded magic to the world over time.

  2. Whatever you do, don’t rob your niched cluster by keeping all of your magic locked up inside.

  3. Think of your pricing stratgey as a way that you give your customers the power of choice.

Create an offering that is rich and varied enough the suit the needs of a variety of your customers.

For some of your customers, the free version will suit them just fine. While others may prefer a light $9.95 nibble of your magic,

Still others will choose to snack on the $149 version of your magic,

And others may surprise you by sparing no cost and treating themselves to the royal $499 magical-feaster's-delight version of magic.

Purpose of a Business Requirement Nine. Accept Your Customers’ Payments As Their Way of Saying “Thank You” 

It is acceptable and expected that your customers will exchange their money for your magic, as long as you are able to package your magic in a way that it meets, and exceeds, their needs.

Continually remind yourself that the purpose of a business is that it follows this requirement.

  1. You must create a business that is so in-tune with your niched cluster's needs that you are able to solve their problem, make them feel better, or both.

  2. After you have fulfilled that requirement, you will have made your customer's life a little brighter and a little more vibrant.

  3. Your customers’ will desire a way to say, "Thank You."

  4. And one way they will say “Thanks”, is through their payment.

Think of your customer's payment as their thank a note, which says the following:

Dear Business Provider,

I just want to say “Thank You".

Thank you for caring enough for me and my burdens, that you designed a business that solved my problem and made me feel better.

Please accept my payment as a way to say, ‘Thank You'.

Signed: A satisfied member of your beloved niched cluster.

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