1. Make sure you like what you're going to be doing. If you aren't sure yet, find some resources to help you figure it out. Don't fall into the money trap. The sayings are true: the money will come much more easily when you are contributing in a way that's enjoyable to you, and that others find valuable. After 7 years, I have no "itch" to do anything else...
2. It's better to fail than to be afraid to make a move!
3. Get out there and meet people. (Attend events through the Chamber, BNI, professional groups, philanthropic and civil groups, etc... Follow-up with people you made a connection with.)
4. Remember to ASK for what you want. Also, don't sell yourself short. (see the Negotiating post)
5. Build relationships with PEOPLE; it's not all about the bottom line. That said, spend time wisely, both yours and theirs.
6. I realized (after earning my MBA and coaching certificates) that advanced formal education and certifications very often have more value in the confidence you gain than of the academic knowledge gained. In other words, if you have enough confidence and a good idea/business, you don't need the extra degree to be successful in your new undertaking. Sometimes it is necessary, but often it's a subconscious delaying tactic.
7. Be careful how much time you spend in the "prep" versus the "implementation." Don't go for perfection, or you'll never launch! For many of us, it's a really hard lesson to learn, but truly try for "good enough." (see my many posts on time management & effectiveness)
8. Don't make assumptions. Ask questions. Seriously, any time you're in doubt: ASK QUESTIONS.
9. Get VERY clear on what you're offering and the benefits to others. Get it into a short phrase that has people wanting to learn more, then stick with it for a period of time. Building a successful business or brand takes clarity and consistency over time.
10. Plan your ideal week and schedule into it. When I started my business, I wanted to only work Tue, Wed, and Thu so I only scheduled appointments on those days. It evolved a bit over the years, but essentially I've stuck with it. How to: I use a blank sheet of paper with clients and they write in the ideal future week (or month) appointments, including personal stuff like going to the gym. They include all the ongoing activities needed for success, and create recurring the appointments in their planner, then they start scheduling other stuff around what's already blocked off. Pretty soon, they are living their ideal schedule most of the time.
11. Figure out the money before you hang your shingle. I recommend doing this in 2 separate ways, then bring it all together. Of course, you will also want to figure out the budget in your business plan, but don't over-think it (see #2 and #7 above!). Method One: Determine how much you NEED to bring in to live and what it will take to hit that number (and exceed it), and set a "price" for your product/service that makes this work well for you both short- and long-term. Method Two: Do your homework on standard/competition fees and set a "price" that seems reasonable in line with your desired marketing pricing strategy. Then: Make sure the two match by adjusting your plan, timeline, offerings, value to clients/customers, approach, etc... (Also refer back to #4!)
12. Surround yourself with good people who complement you and are aligned with your vision for success. This includes personal and professional relationships, and definitely service providers and professional services like an attorney, accountant, and banker. I would seriously recommend a coach, mentor, and/or accountability partner to help you stay on track with your goals, priorities, and consistent actions.
Those are just 12 of many, many things I've learned being a business owner "wearing all the hats" these past several years. I've helped many professionals start and grow businesses and these come up time and time again. Of course, there is much more to know, so ask me if you have a question (post in comments)! See also resource downloads on the website. Most of all, ENJOY the experience!!
Here's to your outrageous success,
Heather A Legge
Envision Success Inc- Coaching in Business for RESULTS!
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