Creating a business concept is one thing. Operating the day-to-day of an active business is another and takes endurance, know-how and good connections among other things. The latter if chosen well, leads to great mentoring and support as you gain stability and growth. Failure to understand what it takes to run a business successfully can mean heartache and chasing the wind.
It can also be an unnecessarily expensive tutor. Learn the difference between helping and enabling your value and how to really help clients and potentials. More importantly establish and focus on your own welfare and mental fitness. If you do not take care of you, you might as well quit now.
Ideas Verses Ideals
It takes more than a notion for an idea to take flight. Many confuse having a good idea with fantasies of instant success, figuring on a grandiose profit margin right out the gate. You must count the cost instead of being reactive to every incident ultimately finding yourself out of business before the paint dries. The painful reality is many have manufactured goods against poor planning, leading to storerooms of inventory unsellable and unmarketable for pennies on the dollar. Serious analysis not internet surfing is critical because a lot of data gathered may have been fused from several sources and outdated. Look for qualified, trusted professionals with proven results.
Have a real conversation with seasoned business owners and franchisees. Prepare yourself for the work ahead and take the stars out of your eyes. Satisfy demand by offering value. Ideals are in play when you have the paradigms set. Hard work is a must. Prematurely setting up shop creates false starts and will quickly manipulate your credibility. Be careful. Fluctuating business hours, lacking consistency on products and services, or disorganization will sink you.
Use Your Head
Know your value. Stop using your business as a punching bag. Watch out for clients always wanting a discount. These individuals devalue what you do and display it often. They have zero issue paying for name brand product but want to nickel and dime the solopreneur-because they fail to see the value, you allowed this thereby accepting their terms of doing business. Don’t do it. I emphasize the point because I still see a high volume of entrepreneurs who settle, wanting to make the quick buck. This is disruptive to your bottom line. What next? Printing their own made to order coupons for services?
Don’t Brave It Out
Asking for help is one of the strongest things you can do. Others who have walked the path can yield tremendous advice. Every circumstance is different. Next to wasting money, time is the second silent killer of the small business. Sign up for community or networking groups sharing your same interests making the time worthwhile. Take notes, make real contacts and follow up. As the need changes adjust the contacts.
Take The Blinders Off
Do not expect potential or current clients to ignore your social media status. Working for your self does not cloak you from scrutiny. I have cut more than a few people for questionable content bleeding onto my threads. Disgruntled or abusive verbiage on Facebook for example could lead outsiders to assume you agree with what appears on your thread and as in most cases these are not all your real friends- tread with caution.
Also noteworthy: Not everyone will be on your side when contemplating self-employment which means you should have a thick skin and watch your back. This is no time for eloquence or misplaced loyalty. Use social venues responsibly to enhance your efforts.
Seriously ponder the business you want to build and firmly establish on bedrock not sand.
Until next time~
It can also be an unnecessarily expensive tutor. Learn the difference between helping and enabling your value and how to really help clients and potentials. More importantly establish and focus on your own welfare and mental fitness. If you do not take care of you, you might as well quit now.
Ideas Verses Ideals
It takes more than a notion for an idea to take flight. Many confuse having a good idea with fantasies of instant success, figuring on a grandiose profit margin right out the gate. You must count the cost instead of being reactive to every incident ultimately finding yourself out of business before the paint dries. The painful reality is many have manufactured goods against poor planning, leading to storerooms of inventory unsellable and unmarketable for pennies on the dollar. Serious analysis not internet surfing is critical because a lot of data gathered may have been fused from several sources and outdated. Look for qualified, trusted professionals with proven results.
Have a real conversation with seasoned business owners and franchisees. Prepare yourself for the work ahead and take the stars out of your eyes. Satisfy demand by offering value. Ideals are in play when you have the paradigms set. Hard work is a must. Prematurely setting up shop creates false starts and will quickly manipulate your credibility. Be careful. Fluctuating business hours, lacking consistency on products and services, or disorganization will sink you.
Use Your Head
Know your value. Stop using your business as a punching bag. Watch out for clients always wanting a discount. These individuals devalue what you do and display it often. They have zero issue paying for name brand product but want to nickel and dime the solopreneur-because they fail to see the value, you allowed this thereby accepting their terms of doing business. Don’t do it. I emphasize the point because I still see a high volume of entrepreneurs who settle, wanting to make the quick buck. This is disruptive to your bottom line. What next? Printing their own made to order coupons for services?
Don’t Brave It Out
Asking for help is one of the strongest things you can do. Others who have walked the path can yield tremendous advice. Every circumstance is different. Next to wasting money, time is the second silent killer of the small business. Sign up for community or networking groups sharing your same interests making the time worthwhile. Take notes, make real contacts and follow up. As the need changes adjust the contacts.
Take The Blinders Off
Do not expect potential or current clients to ignore your social media status. Working for your self does not cloak you from scrutiny. I have cut more than a few people for questionable content bleeding onto my threads. Disgruntled or abusive verbiage on Facebook for example could lead outsiders to assume you agree with what appears on your thread and as in most cases these are not all your real friends- tread with caution.
Also noteworthy: Not everyone will be on your side when contemplating self-employment which means you should have a thick skin and watch your back. This is no time for eloquence or misplaced loyalty. Use social venues responsibly to enhance your efforts.
Seriously ponder the business you want to build and firmly establish on bedrock not sand.
Until next time~
RSS Feed
