I’ve been getting this question a lot lately. Many have reached out because they are unsure if they have everything to succeed as a new business owner. My first answer will be, “if you have the right mindset, you will succeed.” Because let’s be honest; the world is full of great ideas, but success only comes through action. Having doubts? Let’s consider 10 tips to succeed!
The truth is when it’s time to ditch your 9-5 job, having doubts it’s super normal!
Here is what you should consider when thinking about launching your business.
ACTION TIP #1:
Know your WHY
No doubt running a business takes a lot of time. Why are you ready to do all the work? To get more time with your kids, for financial freedom, or to travel more often. Your WHY is unique to YOU.
Every time you face challenges, you must return to your WHY. After eight years as a business owner, I often return to my WHY.
ACTION TIP #2:
Validate your market, Know your customer
Understanding your industry is key to success. Know those you serve better than anyone else, and you’ll be able to deliver the solutions they need. Remember that you can’t sell everything to everyone!
When you niche down, you carve out your unique place in the market.
ACTION TIP #3:
Believe in yourself
Believe that you can succeed and find ways through different challenges. Jeff Bezos said it helped to know that he wouldn’t regret failure but would regret not trying. Mindset is everything.
ACTION TIP #4:
Face your fears
Fear of failure is among the most common phobias, especially among new and aspiring entrepreneurs. Overcoming fear isn’t easy, but it must be done. I love determining the worst-case scenarios, focusing on my WHY, taking action, and asking for help! Learning to accept (and embrace) your fear is so important for business owners.
ACTION TIP #5:
No one succeeds immediately, and everyone was once a beginner.
Success Doesn’t Happen Overnight!
Slow and steady work leads to sustainable success in a way that nothing “overnight” can match. Remember that “overnight success” is often preceded by years of failures, setbacks, and straightforward hard work. Be patient, do the work, and success is coming.
ACTION TIP #6:
Build a great team
No one succeeds in business alone. Build a great team to bolster your success. If you are losing valuable time on nonessential tasks, your customer service is suffering, or you find yourself saying ‘No’ to new business, it’s time to take action and look to grow your team. If you are not ready to hire full-time employees, look for a part-time consultant.
ACTION TIP #7:
Learn from your mistakes
Many entrepreneurs point to mistakes as being their best teachers. When you learn from your mistakes, you move closer to success — even though you initially failed. As J.K. Rowling said, “It is impossible to live without failing at something unless you live so cautiously that you might as well not have lived at all — in which case, you fail by default.”
ACTION TIP #8:
When you spend money on your business, spend it wisely. It’s easy to spend too much on foolish things and quickly run out of capital. Don’t spend the money you don’t have, and remember that your business expenses MUST include your salary.
ACTION TIP #9:
Consistency is the key to success. Being consistent allows you to establish awareness, build trust and deliver your service or product efficiently and profitably, and without consistency, your business is more likely to fail.
ACTION TIP #10:
Deliver more than expected
It’s a great way to get noticed in your industry and build a loyal following of advocates when you deliver more than your clients expect.
Remember, you will never be 100% ready! Having doubts, it’s super normal.
Do it anyway… 💪
I promise it’s worth it!
Need help kickstarting your business journey?
Success Doesn’t Happen Overnight! Do the work; success is coming!