Posts Tagged ‘tools for entrepreneurs’

Once upon a time you dreamed of a carefree life as an entrepreneur.  You saw the vision of a business where you would satisfy all your clients needs, make tons of money and live the lifestyle of freedom and joy…..wait a second, stop the presses…the reality is hauntingly different.

Now don’t get mad or upset.  I know that you are working your tail off sometimes 12-14 hours per day to turn that dream into a reality.  You eat, sleep (when you do) and think about your business 7 days a week with little return on the investment and a ton of anger to show for it.  But let’s take a step back and really look at what it takes to turn that hobby into a business so you CAN have the business you always dreamed of.

Today Is That Day

Right now in this moment you have a wonderful opportunity to closely examine what it takes to have a successful business.  Here are five action items that you can implement right now so that you can make the transition from a hobby to a business:

1.     Develop a Business and Marketing Plan

When you decide to start a new hobby you don’t need to sit down and write out what you’re going to do and how you are going to do it; you just go out and get your supplies, set up a card table in the basement or spare room and start.  If this sounds like how you started your business, let me explain why this was a BIG mistake.

You want to be successful don’t you?  How will you know if you are?  By writing out your business plan you are taking the necessary steps to plan out your course of action; to identify the goals that indicate you are on the right track.  Without the plan how will you know that you are making the necessary gains in your business that you desire?

So many business women hate marketing but I am sorry ladies it is necessary to develop a marketing plan.  Pick two or three marketing activities and make the commitment to do them consistently.  The activities can range from attending at least one networking event each week to writing a newsletter.  No matter what activities you choose, do them consistently to see results.

2.    You Act Like You Are In Business

There are a couple of really important issues that fall under this heading of “acting like you are in business”.  The first I would like to point out is you have a business email that is tied to your website or domain name.  For example, maureen@daretobephenomenal.com instead of using a generic email address such as yourname@gmail.com. See the difference?  In the first example you know I have a legitimate business, the other, well you’re not so sure.

Second issue is you have branded yourself.  You have a distinct look and feel.  When you brand yourself with colors, taglines and logos you begin to stand out in the crowd.  All of your marketing material must have a cohesive look and feel to them, if they don’t, begin to work towards branding yourself.

Finally, you are treating your personal and business financial accounts as separate; you are not mixing your money.  If you are not doing this now, please go and seek the help of a quick books expert or bookkeeper who can help you separate your accounts so that you clearly know what you are spending and taking in on your business.

3.    Show Me The Money

Here is the plain hard truth…if you are not making any money than you have a hobby and not a business.  Your business needs to be making money or at least be on its way to profitability.  You can’t continue to live on your savings account forever,  and racking up credit card debt to run a business is extremely risky particularly if you own your own home.  Your business won’t survive for very long if you can’t bring in clients and turn a profit.

4.    You Have A Support Team

Part of the trap that many business owners fall into, is they spend many hours a week working in their business instead of on their business.  They do tasks that would be better done by someone else.  You have special talents and skills that bring in the revenue for your business.  If you are spending your time cleaning the house, managing the books,  or managing your data base then you have less time to go out and procure clients.  Find a VA, housecleaner or personal assistant to help you; learn to delegate!

5.    Learn, Learn, Learn

As I mentioned in my opening article, investing in yourself is the biggest gift you can give yourself.  I have two coaches and belong to a mastermind program with a different group of people.  I made a commitment to myself that if I wanted to make my business successful I knew I would have to make the time and monetary sacrifice to make it happen.  If you are struggling with your business or know deep in your soul that all you have is a hobby, I encourage you to consider hiring a coach, mentor or joining a mastermind so that you can turn that hobby into a thriving business.

My challenge to you this week is to take a good, hard look at your business and pick one area to work and improve on.  Make a goal and outline the steps that are necessary for you to achieve success.

When you close your eyes, and envision what you business will look like in a year; three years and beyond; what do you see?  Is your mind filled with doubt that you can’t build a successful six-figure business?  Do you find it hard to see clearly what your business will look like next year and the year after that?  If you answered yes to these questions this simple secret will help you get clear and focused so that you can have that six figure business you desire.

Read on to get the all the details!

Many women entrepreneurs are filled with fear and doubt. They feel that are not worthy or good enough to make their business successful.  They mistakenly believe it can’t be that easy to have success.  Or, if they start to experience success they fear they won’t be able to handle it.  Does of any of this sound like you?

I want you to remember that fear and doubt is not what is TRUE about any situation. Ok, I hear you saying, “but I feel fear!”  Your right, you are feeling fear and  I am not suggesting that you stop feeling a feeling; that’s just not possible.  But what I am suggesting is that you stop and reboot your mind and tell yourself “IT IS NOT TRUE”.  When you experience fear or doubt consider reciting the following statement:  “I’m feeling (fear/doubt) but I don’t believe it to be true just because I feel it.”

Try this exercise and feel the results:

1.  Close your eyes and vision something specific you want in your business.  Maybe it’s to make a certain amount of money or to get a specific number of new, ideal clients.  Whatever it is, vision it.   Do those old doubts and fear creep in when you think about what you want?  That’s ok, it’s totally normal as you begin to train yourself into a new way of thinking and believing.

2.  As you are face to face with those doubts and fears notice how it makes you feel and where in your body you feel it.  Now say to yourself:  “This is not true. There’s that feeling. It’s just not true.”

3.  Next go back to your vision and identify what IS important to you.  Remember what it is you want so much. Notice how it makes you feel inside; joyful, exhilarated, excited about the possibilities.  Stick with that feeling! Realize that you have a choice in how you will feel and how you will move forward in your beliefs and actions.  When you realize this, the possibilities become endless.  You understand what was possible once is possible again and again.  It all lies in your ability to switch on your empowering belief system coupled with choosing the actions that will move you forward.

When I was filled with doubt and fear it had a paralyzing effect on my life and my business.  Once I learned how to rid myself of the thoughts and beliefs and replace them with an empowering mindset I quickly remembered I had many successes in my life from which to recall and it was possible to have all I desired.  If success was possible once it it possible many times over.

I firmly believe everything always works out.  I am not always sure in the moment exactly how it will, but my belief system tells me it always does.  When I find  I don’t have all the answers it means I need to look for assistance from friends, business associates and most importantly from my own coach and mentor.

Finally, know that you have choices, evaluate the possibilities and go with the option that you want. Don’t listen to anyone or anything but your inner knowing and go for what you recognize to be true and right.

Everybody wants to be rich.  But few know how to make it happen.  So unless you win the Mega millions drawing tomorrow night you are probably going to need another strategy to be successful.

Here are some of the top strategies of successful entrepreneurs….

1.  Do It Daily

The one thing that successful entrepreneurs understand is that in order to move their business forward they must engage in marketing activities each and everyday.   Daily?  YES… DAILY!

2.  Time Is  A Precious Commodity

How do you spend your time?  Do you watch TV during the day?  Chat with your girlfriends instead of working?  Do you allow others to interfere with your time and schedule?  If you answered yes to any of these you do not understand how valuable your time really is.  Successful entrepreneurs understand that how they spend their time NOW will determine their future.  Spend your time wisely.

3.  Stop Procrastinating

Successful entrepreneurs don’t’ put off what they know they can do today…in others words they don’t procrastinate.   This sense of urgency is borne not only from their understanding of how valuable their time is, but also from wanting to keep their clients happy.  By acting immediately, they are ensuring client satisfaction.  And happy clients are clients that will return to buy your products and services over and over again.

4.  One Thing At A Time

I always loved the phrase “one day at a time”.  Well this is the same concept except instead of one day a time, it’s one thing at a time.

If you find yourself in a constant state of overwhelm and confusion because you think your to do list is out of control, remember that all that’s important is that you do something…anything each day.  Worry won’t decrease that pile.  But taking action and doing one thing and then the next and the next will.

5.  Always Have A “Plan B”

Those of you who know me well know that I live by this rule.  Although I don’t worry about the big stuff, I always have a backup plan if something goes wrong.  What do I mean by this?  Well if I am planning a retreat I don’t worry about filling the retreat, but I do worry about if the retreat center is not ready for us when we arrive.  I focus my attention on the details and have a backup plan for if something needs to be “tweaked”.

This insures that I have thought out all of the potential problems that could arise and already have a solution ready at hand.  I always have my “plan b”!

6.  Don’t Do It All

Successful entrepreneurs understand how important a team is to the ultimate running of their business.  Doing it all is a recipe for burnout and disaster.

Smart and savvy businesswomen create teams and delegate effectively.  Hiring a virtual assistant, bookkeeper,  personal assistant, house keepers, etc.,  help to keep your mind of the small stuff and instead keep you focused on the big picture.

7.  Have The Right Mindset

Successful entrepreneurs are focused on three things:  security, comfort, and money.

The focus on security allows the successful business women to develop systems and programs that reinforce that need for security with an overall focus  on the big picture as opposed to doing tasks and activities that have only short term results.  So remember to invest in yourself and your business for long term success.

No matter where you are in your business I encourage you to implement these strategies.  If you are new in business, start with one idea and build on from there.  Take the first steps toward building that successful business.

Today’s business success strategy is about listening to your clients?

When was the last time you listened to your customers?  How do you figure out what your clients want and need? Do you use survey tools or during conversation do you listen for what they articulate as their needs?

If you are in business you  need to be listening to your clients.  By listening to your clients it opens the door for you to develop programs, packages and services that they will want to buy.  What better way to increase your business than to give your clients what they want.

The company that succeeds in today’s economy is the one that has their ear to ground and is constantly innovating to meet the current market needs.