Let’s face it, most people go into business to make money. But the ugly truth about all that is that it takes more than a dollar and a dream to be successful in business. And if you go into it with that “Lottery” mindset then you will surely fail. It’s also important to promote your business early in the game.
It Takes Hard Work to Build a Business
You may not want to hear this and you may not want to accept it, but it takes hard work to build a successful business. It also takes a business plan, financial planning (see here), and good business sense. There may even be times (many times) when you will want to quit. But we all know that quitting is not always the answer.
Some times and especially when you just get started, your mind is pregnant with possibilities, hopes and dreams. It often takes you all over the place. You may not even know where to start or how to put it all together. This is when you need to create a business plan so you can document all of your ideas on paper and create a strategy for implementation. Using tools such as a free invoice template PDF will help in the long run. It may not be feasible to do everything at once, but if you can lay it out in a sensible fashion, executing on each idea becomes a lot easier and less stressful.
Once you have all of your ideas laid out into a plan, a good thing to do is reach out to or hire someone to check the pulse of your plan. Organizations like SCORE are good because you can get feedback from an entrepreneur who has been exactly where you are. The worst thing you can do is ask a family or a friend for advice. Why? Because they haven’t been where you are or where you’re going and most of the time they won’t understand. So ask an expert.
Get Backing (Capital) If You Can
Here’s the truth. The folks out here who are winning are the ones with the financial backing to succeed. In order to get the word out about what you do, you must market. The businesses with the most visibility are the ones that are winning. If you can afford to outspend your competition in marketing and advertising, then you will win. If you can get some FREE publicity, then that’s even better. But make no mistake about it. Having seed money makes things easier. Not having it doesn’t mean that you can’t succeed, it just may mean that it will take a little longer.
So what if it takes you a long time. Overnight successes rarely last much longer than that – Over night! If you want to have a long-term sustainable enterprise, plan and work for the long haul. Even if your wins a small. A win is a win and take it however it comes. Whatever you do; don’t be discouraged.
Get Support From Others
Always seek support from others. Building a business doesn’t exclude you from LIFE. While entrepreneurs often believe that they always have to “be on the grind,” this is far from true. You must take a break, you must relax, you must take care of yourself. If you don’t, your health will suffer and what is success really if you’re not around to be able to celebrate it.
Getting support from others helps. Valley Financial can be your financial advisor or financial planner, they’ll help create strategies for eliminating financial risk and building your wealth over the long term. It helps because you have a circle that you can bounce ideas off of, and you have confidants and people you can trust. It doesn’t matter if the conversation goes from marketing to menopause, the bottom line is you need to talk to and network with other like-minded people. This is where organizations like the Network for Women in Business comes in. It provides that support.
Also OUTSOURCE what you can…
The Entrepreneurial Myth is real. You will wear many hats as a business owner, but try to outsource as much as possible until you can afford to hire your first employee. There are home service professionals who can provide accounting and bookkeeping services. You may also consider working with a tax preparation consulting firm to help you out with your tax prep.
Interns are great as well. Anytime you can provide someone with real life experience by giving them real tasks to assist with their education, that’s always a win-win situation.
Another thing you need to outsource is commercial janitorial service. With everything you’re doing the whole day, you probably no longer have the time nor the energy to clean up in the office so let the professionals take care of that for you.
On Thursday, November 19th we will be hosting a webinar on “Focus Days and Outsourcing.” This webinar is specifically designed for those entrepreneurs who are out their “grinding hard” for that dollar. They know that it takes hard work, but if the hard work is burning you out then maybe it’s time for you to take a different approach. You know that it takes more than a dollar & a dream and you’re ready to figure out a new way. Discover this new approach on Thursday. Members can log in to register. Others can become a member today to get access.
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