Harnessing The Entrepreneurial Spirit

Do you have a dream of owning your own business… someday? Is there something that’s holding you back?

As business coaches, we work with budding, and “someday” entrepreneurs and we find they share some common traits when it comes to taking the bold step into business ownership and here a few insights we offer if you’re considering becoming an entrepreneur:

  • Remember that businesses take time to make a profit. We’d like to think that everyone can be an “overnight success” but that just isn’t the case for many. Your ultimate goal is to make a profit, but be patient as it may take time to get there (it’s best to have either a back-up plan or another source of income while you’re starting out). Don’t start off under-capitalized.
  • Getting it done is better than being perfect. If you wait for “perfect” to arrive you may never move forward. While you don’t want to offer shoddy goods or services, you need to be willing to put it out there and then tweak as you move forward.
  • Have a business plan. This bears repeating: Have a business plan. Your business plan doesn’t need to take up reams of paper, nor does it need to be so detailed that you get buried down in the writing of it and never get the business off the ground. You do need to know how to find your ideal client and to market to them effectively as well as knowing what to charge for your goods and services. A business plan is also your roadmap toward what you consider to be success — how will you know you’ve arrived if you don’t know where you’re going?

We’d love to hear your stories of success as well as any challenges you may be facing. Feel free to contact our office or leave us a message.