Whether building a business or completing a project, you may feel like you’re stuck.
John is starting a fix and flip business. A very lucrative business that involves in buying run-down houses, fixing them and selling them for a profit. But John hasn’t done anything like this before. In fact, he doesn’t know where to start looking or what his next steps are. This isn’t exclusive to just this type of business. You might be starting a bakery business or an online E-commerce business. You might feel stuck like John. No clarity. No directions. And everything seems so confusing.
John started to Google search ways that he can start his business. But the more he reads, he seems to be getting conflicting advice and direction from all sorts of different people. This drove him to further confusion. He was feeling overwhelmed. Interestingly enough, John isn’t the only one feeling this way. Many creative individuals, entrepreneurs and business leaders feel this way when looking to start a new project, a new product launch or ways to just about build anything.
But time and time again, there is one concept that has been used to successfully help individuals run through the finish line. A concept in which many successful entrepreneurs, like you, have used to build and create businesses and great quality products. Steve Jobs, Charlie Monger, Bill Gates, Thomas Edison and Henry Ford were all attributed to using this one particular concept to accomplish just about anything that they had their mind on. Want to take a guess on what it is?
It’s Reverse-Engineering. The fine art of being able to work in reverse.
Personally, this is my go-to strategy when starting a brand new business or a simple project. Reverse engineering is being able to create the final product or the end-result in your mind (or a model) and walking backwards to creating the steps on how you can get there.
For John, he started with envisioning how much profit he wanted to generate, the neighborhood in which he was doing the fix and flip project in, and the quality of the work that it was demanded of him. He started to plan out exactly what types of materials and design he wanted to incorporate. From there, he was able to walk backwards and do some research as to which neighborhood was a good fit for him and his designs. Once he identified the neighborhood, he started to look for houses in that area that needed desperate help of remodeling. He would then go further to creating steps to how he would buy a such house. How much start-up capital is required? What sort of contracts would John need to have to buy the house? Does the neighborhood have certain rules and laws that he needs to be aware of?
Knowing what the finished product or the end-result looks like can spark endless questions. Such questions can lead to action steps necessary for you to walk forward to accomplishing those goals. Like John, you can start from the end and then imagine the steps as you walk backwards. This is the not-so-secret technique that many successful business owners and entrepreneurs used to find success. Thomas Edison, for example, envisioned an invention in which it can give light through electricity. He knew exactly what he wanted and looked like. He just needed to walk backwards to figure out all the steps and details to creating a light bulb.
The Steps are Simple:
STEP 1. Identify Your End-Goal or Product.
STEP 2. Begin to walk backwards to figure out the parts, steps, actions, or ideas that are necessary in constructing the end-goal.
STEP 3. Chunk down the steps or actions in to smaller steps to a more simple level.
STEP 4. Begin to attack the micro-level steps in direction of moving the idea forward.
Nothing is impossible to achieve when you already know what the achievement looks like. Apply this to just about anything and you can accomplish them!