You’re probably hoping that these three mistakes are tactical strategies that can be changed or corrected overnight and your business will start rockin! I wish it were that simple. The tactical stuff is easy. It’s the “head” stuff that gets in the way.
Of course there are million different ways you can fail at launching your dream business, but how about we start by looking at the 3 things that we must turn around in order to have a shot.
Underestimating the amount of time it will take to get profitable.
The goal of any business owner is to make a profit. Sure there are other reasons we start-up: freedom, security, creative freedom, following a dream, the entrepreneurial bug, etc. But we all want and need to make the business profitable. The mistake many new solopreneurs especially make is thinking that it will happen faster than it really will.
There are plenty of examples of solopreneurs and small businesses that open up shop and boom – the floodgates open and business is a massive success right from the start. That is an illusion. Here is what you didn’t see happening:
- A brilliant idea at the right time in the right place with the right backing and amazing marketing.
- An immense amount of strategic planning, preparation and hustle took place behind the scenes before the business ever launched.
It sometimes looks easy from the outside because we don’t see what went on in the background for months or even years prior.
Be realistic and understand that it will take longer than you plan. And that’s alright. As long as you plan for it and have the resources and the patience you can enjoy the journey. After all, you’re creating a business you love, one that feeds your soul and brings you joy.
Underestimating the amount of energy you will need to put into the business.
Are you prepared to hustle? To work 10-15 hours a day? Everyday? You may not need to, or choose to but then again, it might be what’s required to get your dream off the ground.
I see too many women who want the freedom that the dream brings them, but they are not prepared to do the work that’s required. Much of what it will take to get started is not stuff you would ever even imagine in the dreaming phase. When I was starting out on my own I heard a lot of advice that sounded like this, “Don’t worry about doing it all now, just take small actions, baby steps in the direction of your dream.” Well, that’s great if you don’t care how long it takes you to build your business and if you don’t care if you make any money in the next two, three, five years. But that was not me. I had every intention of making as much money, if not more than I gave up at the job I left behind.And that required a lot of energy.
For instance, the energy required to learn everything you don’t know about how to market, launch and grow your business. You might need to learn new software, figure out new technology for marketing, network your ass off to let the world know you’re out there. Some of these activities might not be within your unique abilities or skills. And that can be exhausting.
The great news is, you’re creating YOUR dream not someone else’s so the work creates great rewards that replenish your energy reserves. Just go in with your eyes wide open. And a pot of coffee nearby.
Not asking for help.
Oh boy. Asking for help. Not something most women are very good at. You’ve probably been taking care of everyone and everything in your life for so long that the idea of asking for help hasn’t even crossed your mind.
Here’s the thing. The time and energy needed to make this dream a reality could be cut in half if you just seek the help you need. Whether you need to learn a new software, need tips for marketing your business, a good design for your logo, a website built or just need someone to bounce ideas off of there are others out there who are more that willing to help.
Take advantage of the experience of others as you start out. You may want to hire a business coach, or join a mastermind type group. You may need to take some online courses or attend conferences. Take these things into consideration as you create your financial plan for the start up. You don’t have to spend a fortune, but you will need to learn. The thing I valued most about joining a coaching group was the sharing of skills and knowledge. You may even be able to barter for work you need done. No doubt you have some skills that others in the group will value.
If you are just starting the process to reinvent your life and create a business you love, this is an exciting time. It can and should be a time filled with joy and possibility. It’s easy to avoid these mistakes when you recognize them right away and turn them around into action steps.
- Know that it is going to take time to get profitable. Prepare for it and enjoy the ride.
- Know that it is going to take a lot of energy to build your dream. Practice gratitude everyday for the strides you are making and take action.
- Ask for help. There are people out there who would love to help you on the journey. For some, helping you succeed is their mission.
Need help getting started? This simple checklist can give you a blueprint to guide the way.
