Great, you’re thinking of starting a business. Congratulations! Starting a company is the first step to gaining financial freedom. I will be honest with you it is not an easy feat by any stretch of the imagination. There will be sleepless nights, times when you feel like giving up, days when you push yourself mentally and physically to your limits. Owning your own business is like a double-edged sword; one side brings you great joy and a dream lifestyle flowing with champagne if that’s your thing. The other side carries the pain of broken dreams, of emptied savings lost for good, and tragic stories of people who have tried but have fallen short of their goals. I know it sounds scary but, for every single entrepreneur that has succeeded, says it’s worth it in the end. So why have you not started that business you’ve been dreaming about for years?. Entrepreneurship rocks I must admit. Imagine having the freedom to do the things you love, waking up energized and excited to serve your clients, being able to afford all the luxuries you’ve desired. It’s absolutely awesome!
Before you drop everything and plunge into starting a business I’m going to give you 3 things to crush before you start your business. These things are the backbone to the future problems that may arise on your journey to greatness and I want you to get them out of the way as early as possible. This is the surest way to DOMINATE the business world and achieve massive success.
First, We go back to the Basics
When attempting to start a business, you must have noticed many experts giving out advice focus on: Develop a powerful message – Think about the customer and what problems you’re trying to solve for them and are they willing to pay for it, Fully understand the market – They give you an example of companies that do not have the best product/service but are doing well because of proper research and attention to what their competitors have done in order to be successful, You’re entitled to nothing – Working hard is a must and being an entrepreneur is not easy, there might not be any vacations because all your money is tied up. And this is my all-time favorite Write a business plan – If you have a written plan with your project results and personal goals is the best way to stay on track.
Write down 3 things you believe are most critical to starting a business in 2020
There are no right or wrong answers.
This might sound like I don’t think these things are necessary, they actually are. They are useful to the overall goal of starting and building a successful business. On the flip-side, there are more foundational things that will be overlooked if you jumped into the business with these alone. MINDSET transformation. Attempting to start a business without overcoming these issues leads to countless frustrations, sleepless nights, and failed goals as I’m sure you’ve experienced in one way or another.
Before you start a business, you have to deal with the mental conundrum, the voices that will try to convince you that you’re not good enough, telling you that there are stones that you haven’t yet turned and failure is around the corner. Some might say that these voices don’t ever go way, but I say they are wrong, these voices thrive on insecurity and doubt that lies deep within all of us. I believe this should be dealt with before you start anything else. You hear the best business minds say their mind is the most powerful tool they possess, they focus on clearing their heads of all distractions and so on and so forth. This shows the importance of having a clear mental state.
Your Greatest Asset: The Entrepreneurial Mind
Within the last few years, one thing has become increasingly consistent in our daily lives and that is talking about mental health. This was long overdue especially in the entrepreneurial circle as we face a lot of uphill battles. It’s said that without our physical health we can fall into stagnation, But, we can still keep our mind sharp. We can still reach out to ask for the help we need. Without sound mental health, the results can be cataclysmic. The emotional and cognitive void can bloom into a darkness that encompasses several areas of your life, including your professional one.
In a study conducted by Dr. Michael Freeman he stated “A surprising 72% of the entrepreneurs in this sample reported a personal (49%) or family (23%) mental health history. This suggests an opportunity to reconceptualize mental health differences in a way that is not confined by the limits of a disease model. Mental health conditions are referred to as “disorders” and co-occurrence is referred to as “comorbidity” in the illness-oriented psychiatric literature.”
Your mind Is our greatest tool, the place in which you solve all the problems that will plague your business. If you don’t take care of mind it could lead to depression, anxiety and mood swings which all actively work to weaken your performance. It also helps to contribute to burnout, conflict, toxic company culture which is no good for the business as it can lead to increased employee turnover, an incapability to hire bring in talent, an inability to “bring it” for critical meetings and pitches and poor decision making in general.
3 Things to Crush before you launch your business?
1. Stop obsessing over facts and perfection – if you’re anything like me then you might be suffering from excessive obsessive information overload. Your fact-finding everything possible – researching every competitor out there, constantly learning, spiraling from one webinar to another, attending seminars and workshops. I’m a fact-finder too and I know how this stalled my business for years. Trying to have all the information upfront is counteractive and counter-productive. It’s far better to learn and pivot than to plan and fail. It’s harder for failure to be seen as learning when you’ve spent so long planning the perfect launch. Focus on starting small. Information overwhelm is real. It doesn’t mean go in completely blind, it means going in with just enough information to get started.
2. Overcome the Imposter syndrome – I’m a fraud and they’re going to find out. Who am I to do this? to run this show? To be an entrepreneur? What if I fail? What if no one buys my product or Service? News flash, everyone has it. Every single person who has gone ahead and launched a business or excels in any area of life felt the same way at the start. Focus on your why and the probability of just helping one person. Narrow down your ideas and pick one that you’re passionate about and solve a big enough problem. Courage is not the absence of fear, it’s making progress regardless. Imposter syndrome is usually a sign or deeper insecurity. You don’t have to be an expert you just have to be one step ahead to be able to help
3. Knowing where to start – If you’re an innovator with so many ideas, this might be driving you nuts. What business to launch, how to start, how much to invest, how big to start? Do you need to hire? This is a constant struggle and sometimes all you need is guidance from someone who’s been there. Following a trusted system structure or coach might be the way out. It might be that you’re not ready to go full time and just looking for passive income through a side hustle. Most businesses started as a side hustle. You may need an implementer to get things off the ground or a coach to get you started. If all partners are the same nothing gets done. Strategic partnerships accountability. Make sure you’re passionate and applying your skills and talents. When you have a burning desire to accomplish some goal, the how shows up. Control overwhelm by focusing on the next step and not the 5000 steps to get to your goal. Or maybe you’re just a procrastinator needing accountability.
You don’t have to go it alone
I know taking your ideas and turning them into reality is a hard thing to accomplish and it doesn’t mean you need to figure everything out on your own. In this era, there’s an overwhelming number of tools, frameworks, processes, experts, all claiming to be the secret ingredient to alleviate the pains of entrepreneurship. There are too few positive results and even lower human to human interaction. But tools aren’t everything.
To position yourself for success, you’ll need to tap into the expertise of a coach who has experienced it and traveled the journey you’re about embarking on.
There’s nothing wrong with going at it alone, you might succeed but it will take you longer. How many times have you promised yourself you would achieve a goal and ended up procrastinating? My coaching ensures you GET IT DONE. If you would like to know more about how I can help you achieve your goals, then visit my website www.joannwosu.com and book your free business clarity session right now.
You’ve got this!