Have you ever felt overwhelmed as a new entrepreneur? You know – those moments, when you are behind your computer wondering where the heck do I begin? It typically hits you on a Monday morning as the whole week looms ahead of you.
For those of you NOT working with a Business Coach, this can feel devastating – and it should! After hosting the retreat with my new entry-level clients last week, I saw the look of horror in their faces just after the first day when we spent hours covering the fundamentals of running a business.
I know that many women entrepreneurs have a passion and a purpose when they step into their business – but they lack business skills and have no idea about the basic requirements. I want to help you with that so you have a sense of what to stop doing and what to start doing.
1) STOP USING YOUR ‘HOTMAIL’ ADDRESS WHEN SENDING BUSINESS EMAILS.
This just screams ‘hobby owner’. Seriously. You are in business. Act like it and promote yourself according.
So START by getting a business-related email address and use that, if not a few. (and P.S. For those of you working from a home office, be sure that you have a ‘business message’ on your phone – and not a voice message created by your children.)
2) STOP WORKING OFF THE DINING ROOM TABLE.
When you get serious about your business, you will get serious results. Many women entrepreneurs struggle with balance between work and home. Well, no wonder! When you have your office located in the middle of the dining room, or in the middle of the family room in your home, of course you struggle with balance. Get real!
START by moving to another location in the house so that, at the end of the day, you close the door and get back to your life.
3) STOP USING YOUR PERSONAL BANK ACCOUNT FOR BUSINESS.
This bad habit creates total confusion with respect to tracking your numbers – which is something you must be doing on a daily basis. Your personal bank account is for personal reasons. Having a business bank account not only makes it easier to track revenue and expenses, etc. – but it also creates a mindset shift for you so that you begin ACTING like a business owner.
START today and ensure you get to your financial institution and open a business account.
4) STOP DOING EVERYTHING YOURSELF!
You cannot, and will not, grow your business if you keep doing everything yourself. It won’t happen. Why in the world, when you have a wealth of knowledge and a passion to get out there and be of service and grow your business, would you keep doing the equivalent of $15/hour tasks? It makes no business sense. If you find yourself filing papers, running errands, and doing administrative work – STOP IT!
START by getting some part-time help in the beginning. There are many options available to you – from hiring a virtual assistant for just a few hours a month (that alone will make a HUGE difference!), to finding a student intern which makes it a win-win for both of you. Just the ‘action’ of getting help and support again puts you in the business frame of mind. And, quite honestly, ladies – get yourselves a business coach who has a track record of success. No one succeeds in business alone. No One!
5) STOP THE MINDLESS SPENDING!
I see this ALL the time. Spending money on so many different things – web design, graphics, seminars, home study systems and so much more – all done without a plan, without a strategy and without a coach to guide you. These can be very expensive errors!! (I know because I did it too!)
Instead, START by working with your coach to create a plan and work the plan. Do what your coach tells you to do – check in with your coach for trusted resources. This will pay off significantly for you in so many ways.
6) STOP PROMOTING MORE THAN ONE THING AT ONCE!
A confused mind will not buy! I see so many new entrepreneurs – so very talented and excited about what they have to offer – promoting more than one business, more than one product and/or more than one service AT THE SAME TIME. STOP IT! It doesn’t work. You will confuse the market and, quite honestly, at the same time – YOU will be confused.
START by identifying your fastest path to cash – and focus on that and that alone. If it’s a product or event, then create the plan and market that like crazy. Stay focused on one thing. You will be amazing at the results you get.
7) STOP COMPARING YOURSELF TO EVERYONE ELSE.
You have no idea where someone else is in their business. In public, everyone is wearing a mask and projecting a level of success that is often a fairytale. A common trap is to compare the inside of you to the outside of someone else. Listen – everyone has a different ‘speed of implementation’. Some people are working 90 hours a week –
others are working 15 hours a week – on their business. That alone is reason enough to stop with the comparison game.
START by following the plan co-created with your business coach, work the plan, and celebrate your own progress and success. That is all that really matters!
Starting up a business can be very intimidating, challenging and overwhelming. When you hang around mediocre entrepreneurs, you adopt mediocre habits. You are better than that. It doesn’t take a lot of money or cash flow to implement what I have recommended. It does take a strong and powerful mindset – focus – guidance –action – and great people around you.
When you take action and implement these basic steps, you are already making great progress. It will reflect in your business and there will be no stopping you!
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