When starting a new business, the need to figure out identity is an important factor.
All businesses end-up with their own identity. The Australian Corporations Act, states that a company – is it’s own legal entity in the eyes of the law. In most cases, an ABN is sufficient to start a business – stepping up the process to a business name, which later down the track – if the business is successful – turns into a company.
Considering the businesses objectives is always a good starting point when considering how to provide a new business or company, identity.
– What is it that the business seeks to achieve?
– What does it provide that is valued to current and potential customers?
– How will the business scale?
– How does the business – make money…
I often mindmap out the solutions i’m developing, and trying to structure my thought around it. There are often a multitude of reasons why someone decides to go start a business. These underlying reasons change the nature of the start-up, the purpose of the business and the aspects in which the founder of the business, focuses upon developing the business.
In many cases; it’s simply an idea of generating revenue. People decide it’s a “good idea” to start a business, so they decide they’ll have a “crack” at it. In These cases, i often find it almost more important to explore the underlying personal reasons for setting-up the business – what is the purpose of doing this action – why a business?
What are the critical things the business is expected to provide its founders – and what is the business designed to provide an audience – of customers. There is obviously a difference between the needs of a business operator, and a business. By exploring these needs, both personal and professional alike – a business model is more easily established around the skills and needs of its proprietors.
In other cases; a group, or individual has identified a “business opportunity”. This business opportunity is often a far more calculated start-up process, where the businesses establishment has less to do with the personal identities of the founders – and more to do with establishing a path for successful commercialisation of a product or services, for which the founders of the business have some sort of unique relationship to; as required, to facilitate the undertaking of setting-up a business.
In both cases, mindmapping is a powerful tool to explore and visualise the very different, alternate and interwoven aspects to a business. To get a 15,000 foot view on the needs of setting up a business, providing it identity – and ensuring your work with it, encourages the growth – to fullest potential – of both the new business, and the participants involved in establishing it.
If your looking for some other perspectives on mindmapping – check-out the youtube search.