10 Steps to Success for the Courageous Entrepreneur
The current economy is putting professionals in a position where they are contemplating venturing out on their own as small business owners. Here are 10 steps to success for the courageous entrepreneur that is about to start his/her own business?
“You can’t overestimate the need to plan and prepare. In most of the mistakes I’ve made, there has been this common theme of inadequate planning beforehand. You really can’t over-prepare in business!”Chris Corrigan
“You need a plan to build a house. To build a life, it is even more important to have a plan or goal.” Zig Ziglar
- Slow down to speed up! “When I started out in business, I spent a great deal of time researching every detail that might be pertinent to the deal I was interested in making. I still do the same today. People often comment on how quickly I operate, but the reason I can move quickly is that I’ve done the background work first, which no one usually sees. I prepare myself thoroughly, and then when it is time to move ahead, I am ready to sprint.” Donald Trump
- Who are you going to be? Find a niche market that has a need that you can address better than anyone else in your market. A niche market that is being under-serviced can be a goldmine for a hard-working entrepreneur.
- Read Michael Gerber great book The E-Myth Revisited and his other books. He stresses thinking and acting like a business person. Have systems and processes in place as part of your business plan to keep you organized as you grow your business. http://www.e-myth.com/
- Make a game plan. Do your homework to find best practices and write your Business Plan for your first three years. Determine a budget, CRM, bookkeeping, marketing plan and then put that plan into action. Over 90% of entrepreneurs do not start out with a 3 year plan and most of them fail as a result.
- Name your Company. Get your domain name before you register your business. Find a .com name that is available and brand yourself around that name. This will save you from confusing your target market and frustration later. You want prospects to find you easily online.
- Create a website and/or blog. Create an online hub that is part of your interactive web presence.
- Engage online. Tap into Social media to interact with clients and prospects in your market. Configure your Twitter, Facebook Business Page, LinkedIN Business and personal profile. Find out where your target market “hangs out online” and become a part of that community. Listen at first and make positive comments on other people’s blogs.
- Market your Company. Generate leads by personally introducing yourself and/or hire an outside sales/marketing person to represent your company to your target market in-person and online.
- No one is in business by themselves. Even before you hire your first employee you need to think like a team player. Be the person that people want to see succeed. Network with non-competing professionals to learn about business opportunities, share best practices and work on your public speaking skills in a friendly environment. Share your dream, vision and game plan with your family, friends, Networking partners, vendors and suppliers. They will then become your CoDreamers and provide the support you need to be successful in life.
- Manage expectations properly and plan on working very hard for the first year. Deliver results on time, on budget and with a smile. It is vital that you provide great friendly service and products the first time you are given the opportunity. This will help build a good reputation and lay a solid foundation from which to grow. Then you can focus on building a strong team and effective project coordination to gain customers for life!
Hope you found this helpful. Please, share your comments and/or add to this list. Thank you! @PamelaJMyers






