Blog #470 Entrepreneurship #2

Coaching for Life Success:  Entrepreneurship Part 2

https://www.entrepreneur.com/article/207488

Let’s look more at entrepreneurship today.  This article suggests eight ways to become a successful entrepreneur.

-1 Take a stand for yourself.  You can’t blame your boss (since it is you), or the economy; or your spouse.  You are you!!! You set the agenda. YOU are in charge. If it succeeds, it mainly is up to you; and if it fails, it mainly is because of you.

-2 Find the right business for you.  What is your personality? What is your style? What skills do you bring to the table?  Do you know technology? Can you code if you need to? Do you know web privacy? Is there a gap in the marketplace.  Do the research. Research business and environments that look interesting to you. Are you warm and friendly? Are you an introvert?  Are you good at sales?

-3 Make a business plan.  What are your goals, your strategies?  What is your mission, vision, and values (MVV – more on that in a few days)?  What are you building? Who are you servicing? Who will be your customers? I have a new business – math tutoring.  Sure, it is a small business, and I’m not doing it for the revenue. I have hands-on tutoring with five students currently (which is really about enough).  They are really appreciating the time and expertise that I am putting into it. No, this is not Sylvan Learning or Mathnasium or similar – it is good old, one-on-one tutoring – and actually relationship building.  One of my students learned about the can-do attitude two days ago (when she said “I hate math” “I can’t do this”). By the end of our session, she was saying (at least to me) “I love math”.

-4 Know your target audience.  You might have a great product, a great idea but if people don’t buy your product or pay for your service, your business is going nowhere.  Is there a niche where you can fit – a specialty that doesn’t step into other companies spaces?

-5 Understand that your personal and professional life will intertwine.  As an entrepreneur (without a traditional job), generally, as you start out, you ARE the business.  You will eat, sleep and be your business. Will your spouse be willing to put up with the business coming first?

-6 Build a support network.  Find personal support (family and friends), develop networking (who can give you ideas?); build relationships with vendors and with customers. Be generous with your time and with a SMILE!!!    (In some respects, they are buying into ‘you’!!! If your supplies, customers, personal support and others like you (respect you, listen to you, value you), you have a great foundation.

-7 Create value.  Does your product or service go over and above other similar businesses?  SERVE your customers, if you will “love” your customers, they will love you and come back to you.  Deliver more than you promise – also with a SMILE!!

-8 Get the word out.  You can do a lot with social media and the internet.  Get a website (like http://drbrucewhite.com); use Facebook, Twitter, email and more.  Write a blog (like I do). Have word of mouth advertising. My students (or really their parents who pay for the service) will be able to tell their friends that are needing some help in math to come to me.

But, down inside – do you want to start out on a new voyage that might be a dead end?  Do you want to be safe (and stay near the shore) or adventurous and explore for new lands (and a new you and a new business).  Not all are entrepreneurs!! It might not be your style. Maybe your entrepreneurial adventure could be a part-time job. Maybe it can be a retirement job?  Maybe it can be a job when you have accumulated enough savings built up to be financially okay and it can be a service to humanity. It will require introspection and a lot of thinking (and preparation) before jumping into it.

What do you think?

Bruce

Posted by Bruce White

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