Do You Have What it Takes to Be an Entrepreneur? By, Susan Creal

[Suzy Stauffer]

You have an idea. You think it’s a great one! Your friends think it’s a great one! You get excited! You start thinking about how much money you could make, the freedom, the acknowledgment, the success! It’s a GREAT feeling, isn’t it? I applaud you for taking that first step! In order to nurture and give birth (as I say) to you fabulous new idea, let’s make sure you are educated on what you will need to do to create and KEEP your successful business. It’s like planning for a child, instead of the pre-baby checklist; I call it the pre-biz checklist!

Here are a few thoughts to get you started:

o Does my idea/product/service solve a problem? What type of issue, pain, problem are YOU solving? What is your product the solution for?

o Do I have a ‘do whatever it takes’ frame of mind? Working for yourself involves a unique mindset. Being an entrepreneur is much like being a momma- you will have huge ups and downs and will question yourself at times. Tapping into your ‘mom strengths’ will help you become a successful entrepreneur. Make the commitment right now to do whatever it takes to make your dream a reality!

o Have I clearly defined my ‘why?’- This is huge when starting out. If you simply have your eye on the money, your success will last a short time. Clearly defining why you are creating your business will keep your eye on the mark- Is your why providing the best education for your children? Giving your parents a better life? Being a role model for your son or daughter? Think about what it could be, besides the money.

o Have I started a business plan? Like getting in the car to drive down the road, getting in your business and planning for its future is key. Do you have business goals, a mission statement, a marketing plan, start up costs? Use an accountant or software like QuickBooks to help you. How to make this fun? Get creative! Get a really cool notebook, fun paper, cool pens and have fun creating your plan! Business doesn’t have to be black and white!

o Have I identified my niche?- Who is it you will serve? Be very specific. Go wide and go deep. Women who are newly divorced and are single mothers…(wide…women, deep…newly divorced single mothers who are small business owners) Find out where these people hang out. Where do they shop? What type of pain do they have? Do they have the money to spend on your product or service? Make it fun! Put on your private eye hat and pretend you are gathering important information for a life and death assignment .

o Do I know how I stand out?- Know your competition! What makes your products/services unique? How are you different than the rest of the Joes? Think about how MacDonalds stands out from the other fast food hamburger chains? What makes your hairdresser stand out from the rest? Just like your children are special…so is your business!

o Do I feel confident marketing?- The single most important job of yours is not working IN your business, but working ON your business! Marketing is your number one priority and it must be done consistently. If you struggle with this, work with a coach, mentor, professional to help you develop a plan that works!

Keep your heart open and your mind focused and remember to PLAY! Having your business is all about having a lifestyle YOU design and one that should be fun!

by, Susan Creal

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[Mirdza Hayden]

Great post!! Gets us thinking, for sure, whether we have what it takes or not...

[Susan Wilford]

A number of years ago, I wanted to open a gourmet shop in my hometown. Before I did, though, I was advised to do some marketing, or studying, of the climate in the town to such a "NEW" idea. So, I wrote up a questionnaire for the newpaper and got a HUGE response to the types of things that I wanted to have in that shop and on the day we opened, we had people lined up all the way around the block trying to get into the shop for the Grand Opening event! Do your homework ahead of time, know what it is you want, and how much it is needed in the area you are planning on having it, and GO FOR IT! Just realize it will be the hardest work you will ever do and be with you 24/7/365 - just like kids : )

[M Mcc]

Great article! Having a business or two is a lot of work. The early years were a struggle for whisk and spoon because we didn't initially identify what we did. The Whisk and Spoon was doing too much for everyone - and did not have a specialty. Phillyflip.com - we just put any old product up. Now we have clearly defined USD's for both companies and it works. When you get clarity, it gets really easy to explain you business, market & generate sales

[Suzy Stauffer]

A key to success is keeping your overhead and your long-term financial commitments to a minimum. Secondly, don’t get discouraged. If you believe in it, don’t listen to the naysayer who says it will never work. And as Ross Parot once said, “God bless the entrepreneurs. They are too stupid to know when to quit.” I supported myself, a spouse and two babies (one one-month at the start and the other 18 months old) making $3600 my first year in business. We got clothes from Good Will and from thrift shops and the church bazaar. Good thing I had savings. I would hold back on buying a cool notebook (computer) and any frivolity unless that is your business. What you spend on cool pens might be the rice and beans you may (wish you could) be eating later on. It is surprising how quickly you can blow through a bunch of cash and how many businesses fail because they have spent all of their money.



I hope you and yours are well.

Chris.

[Eryn Travis]

Fabulous post! I love the part about comparing entrepeneurship to motherhood. So very true. Lots of ups and downs. Thanks for sharing!