Posts in category: Plan

When it’s finally time to put your toe in the entrepreneurial waters, you’ll eventually find that you’ll need to make a decision. A decision of which type of entrepreneur you’ll ultimately be for this current venture that you’re thinking of starting.

Now this doesn’t mean that once you make a decision, it’s a once and for all decision until the end of time (and a little longer).

Again, I’m just referring, for this venture only, to ‘which type of entrepreneur you’ll be’ for the idea you want to launch that’s right in front of you.

We live in a time where information and influence comes as easy as breathing.

Whatever we want to know or learn about, we can pursue it and either read or watch videos on it. No topic seems to be untapped.

But because we have all of this information at our fingertips, we can easily get information overload. And with all this information, get lost in the process of what to do with it.

Is there a right time, a right opportunity, a right situation, a right…answer?

Starting a business has a lot of advantages. And when people need other options for income because of internal or external forces around them are either failing or just not meeting the need, or if they just want more opportunity in general, then starting a business is a good idea.

In this post, we’ll be talking about the right time and the wrong time to start a business.

Most startups fail after 5 years.

Why? Mainly because of cash flow problems. There’s more going out, than coming in. And, usually, not keeping expenses in check was the culprit.

But I wanted to go over how you can increase your chances for success for your business.

There’s a never ending supply of the things we ‘need’ or don’t need, but still purchase.

But overall, putting the money part aside, there are certain ‘traits’ that people have, that have proven themselves over time, to be ingredients of the 3 S’s. The ‘Secret Sauce of Success’.

So in this article, I’ll be going over these three attributes of having ‘The Right Stuff’ for being an Entrepreneur.

What am I calling the ‘Big Three’?

1. Believing in yourself
2. Willing to get help
3. Not giving up

Here are some things to think about when trying to decide the right path for you and your business.

So, there’s pros and cons to every decision, that’s nothing new. And I’ve done both sides of the coin here in having my business be full time and part time, based on the economy and the market needs…also my family needs at the time.
So I think I have enough experience from both angles to talk about this and hopefully help you to have more clarity when you’re making your decisions.

Even if, ideally, you plan to run your business full-time, starting it up on a part-time basis can offer some significant advantages:
• It reduces your risk because you can rely on income and benefits from your full-time job and lets you have some additional ramp up time.
• It gives you more time to work on your 3 P’s (products, pitch and price)
• You’ll have more time to test the market and get a better feel of how easy or hard building this business might be
• More time to niche down to position yourself to stand out better instead of blending in
• It also allows your business to grow more gradually

You never know where it’ll hit you. You have a great idea for a new business and you’re really excited about it.

It might happen when you’re walking down the street or when you’re just laying in bed or just driving down the road: a new business idea hits you, and it doesn’t let you go!

While you might feel the urge to just drop everything else and jump on it, you should really take some time to think this through, rationally, to make sure that you’re not going to be spending a huge amount of time and money on something that doesn’t end up working out.

So, how can you test your business idea without going all in right away? What steps can you take to validate the proof of concept and avoid while not breaking the bank (or maxing out your credit card)?

I’ve found that, over the years, it can be easy to focus on the more tangible parts of a business. The parts that we can see and feel. The parts that we can have a more direct impact on, like:
• Sales
• Marketing
• Products/Services
The list can go on and on. But there’s one aspect of a successful business that I think gets overlooked time and time again; copywriting.
Not just any type of copywriting, but using words to move prospects or even the casual observer through the ‘know/like/trust/try/buy’ process.. and then we’ll add to that ‘repeat’ as well. Because as business owners, what do we really want? Sales? Yes.. but we also want repeat customers.