10 Pieces of Business-Building Wisdom I Wish I’d Known Years Ago
10 Pieces of Business-Building Wisdom I Wish I’d Known Years Ago
While I’d rather learn from my success, there’s no doubt I’ve learned the most from my mistakes. So I’d thought I’d save you the struggle and share 10 of my top business-building lessons. Some were told to me, others I learned the hard way. Enjoy!
1) Owning a business and being self-employed are two entirely different things. When you own a business, you make money even when you’re not working. And you can go on vacation without everything grinding to a halt.
When you’re self-employed you’re it. If you aren’t working nothing gets done and you don’t make a dime. It’s more fun, and more secure, to own a business than it is to be self-employed —even if it does take a bit more planning and effort to get there.
2) Do at least one marketing activity each day. And do it at the start of the day so you can be sure it gets done. This could be writing an article or blog post. Calling a client to
check in. Sending a card. Updating your social networking page.
Whatever it is just do it, and you’ll be one more step ahead of most of your competition.
3) Test the market before you create the product or service. Too often people spend months, or even years, perfecting their book, seminar, widget or whatever. Then they launch and discover hardly anyone is interested. In the beginning it’s best to create your promotions first. Then produce on demand if anyone buys.
4) It’s your business, so you make the rules. If you don’t want to work nights and weekends...Don’t. If you don’t like answering phones or emails...Don’t. These days, there are almost as many business models as there are businesses. And with the introduction of Virtual Assistants, you can always hire out the tedious parts without having to actually hire an employee.
5) Change is difficult, but almost always worthwhile. And often the changes that come with bad news or hard times are the most worthwhile ones of all. Just remember, the first time you try something new it’s probably going to be hard, scary and uncomfortable. But it always gets easier.
6) Personally pulling in every client one-by-one is a long, slow road. When I first launched my old copywriting business I didn’t go after clients one at a time (it would’ve taken forever to build a business that way on my budget).
Instead, I connected with other marketing consultants, Web designers and graphic designers because their clients needed my services. That way any one connection might result in 5-10 new clients.
Public speaking and writing/publishing (online or off) are also great ways to attract many prospects with one action.
7) Focus on your strengths. When I was younger, I spent a lot of time trying to work on my weaknesses. And I still do in my personal life. But when it comes to my business it only makes sense to work on what I’m best at and leave the rest to someone else.
8) Outsourcing is like dating...You have to kiss a lot of frogs to find a prince. Overall, I’ve found it easier (and cheaper) to hire independent business professionals versus employees. Mainly because their work has a direct impact on their own business success.
That doesn’t mean finding good people is going to be easy, but don’t give up. They’re out there. And when you find someone stellar you’ll be thrilled you didn’t give up the hunt.
9) Never go it alone. It’s much easier to build a business with support. That doesn’t mean you need to bring on a true partner. But strategic partners, mentors, mastermind groups, coaches—even just someone else you can call on the phone periodically for an exchange of ideas—are invaluable.
10) Schedule time to work on your business, or you’ll always end up working in it. Set aside at least one hour per week to work on your marketing, write a business plan, create a promotion, find new service providers…Anything other than putting out fires, answering emails and servicing clients. It’s the only way to move your business forward.
10 Pieces of BusinessBuilding Wisdom I Wish Id Known Years Ago - To learn more about this author, visit Stacy Karacostas's Website.
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No matter what, you learn more by doing than by just about any other method. And after 12 years of doing the entrepreneur thing in 5 different businesses (naturalist trainer, veterinary software trainer & management consultant, copywriter and marketing consultant, real estate investor, and now SuccessStream) I’ve definitely learned a thing or two.
While I’d rather learn from my success, there’s no doubt I’ve learned the most from my mistakes. So I’d thought I’d save you the struggle and share 10 of my top business-building lessons. Some were told to me, others I learned the hard way. Enjoy!
1) Owning a business and being self-employed are two entirely different things. When you own a business, you make money even when you’re not working. And you can go on vacation without everything grinding to a halt.
When you’re self-employed you’re it. If you aren’t working nothing gets done and you don’t make a dime. It’s more fun, and more secure, to own a business than it is to be self-employed —even if it does take a bit more planning and effort to get there.
2) Do at least one marketing activity each day. And do it at the start of the day so you can be sure it gets done. This could be writing an article or blog post. Calling a client to
check in. Sending a card. Updating your social networking page.
Whatever it is just do it, and you’ll be one more step ahead of most of your competition.
3) Test the market before you create the product or service. Too often people spend months, or even years, perfecting their book, seminar, widget or whatever. Then they launch and discover hardly anyone is interested. In the beginning it’s best to create your promotions first. Then produce on demand if anyone buys.
4) It’s your business, so you make the rules. If you don’t want to work nights and weekends...Don’t. If you don’t like answering phones or emails...Don’t. These days, there are almost as many business models as there are businesses. And with the introduction of Virtual Assistants, you can always hire out the tedious parts without having to actually hire an employee.
5) Change is difficult, but almost always worthwhile. And often the changes that come with bad news or hard times are the most worthwhile ones of all. Just remember, the first time you try something new it’s probably going to be hard, scary and uncomfortable. But it always gets easier.
6) Personally pulling in every client one-by-one is a long, slow road. When I first launched my old copywriting business I didn’t go after clients one at a time (it would’ve taken forever to build a business that way on my budget).
Instead, I connected with other marketing consultants, Web designers and graphic designers because their clients needed my services. That way any one connection might result in 5-10 new clients.
Public speaking and writing/publishing (online or off) are also great ways to attract many prospects with one action.
7) Focus on your strengths. When I was younger, I spent a lot of time trying to work on my weaknesses. And I still do in my personal life. But when it comes to my business it only makes sense to work on what I’m best at and leave the rest to someone else.
8) Outsourcing is like dating...You have to kiss a lot of frogs to find a prince. Overall, I’ve found it easier (and cheaper) to hire independent business professionals versus employees. Mainly because their work has a direct impact on their own business success.
That doesn’t mean finding good people is going to be easy, but don’t give up. They’re out there. And when you find someone stellar you’ll be thrilled you didn’t give up the hunt.
9) Never go it alone. It’s much easier to build a business with support. That doesn’t mean you need to bring on a true partner. But strategic partners, mentors, mastermind groups, coaches—even just someone else you can call on the phone periodically for an exchange of ideas—are invaluable.
10) Schedule time to work on your business, or you’ll always end up working in it. Set aside at least one hour per week to work on your marketing, write a business plan, create a promotion, find new service providers…Anything other than putting out fires, answering emails and servicing clients. It’s the only way to move your business forward.
10 Pieces of BusinessBuilding Wisdom I Wish Id Known Years Ago - To learn more about this author, visit Stacy Karacostas's Website.
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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Stephanie RobeyStephanie Robey is President and CoFounder of Pivot Positive, LLC - an Internet marketing business focused on helping people start work at home ventures. Previously, she was employed at The Search Agency with over 20 years experience in graphic design and 10 years experience in online marketing. She was responsible for launching the Conversion Path Optimization (CPO) unit where she and her team have conducted hundreds of optimization tests for online companies across multiple verticals. She is a successful entrepreneur having started and sold 2 companies and remains on the board of directors of the third, PhotoSpin.com Stephanie began her career in the direct marketing realm creating and producing direct mail for many of the major cable television companies and directly attributes her understanding of Internet marketing to those early offline experiences. Stephanie is a graduate of San Diego State University with a BFA in Graphic Arts and also holds an Executive MBA from the Graziadio School of Business and Management at Pepperdine University. Read Steph's Blog Meet Steph and Dave Sign up for our Free 7-Day BootCamp: Self Employed & Rich - Visit Stephanie Robey's Website |
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Casey GollanCasey Gollan, Business Coaching & Mentoring Programs. Add $1 Million to $10 Million in the next 1 to 3 years. Since 1996 Casey has to added hundreds of millions of dollars to businesses. Watch a free video see client results Business Coaching website. - Visit Casey Gollan's Website |
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Joe DagerJoe Dager is President of Business901, a progressive coaching company providing no-nonsense direction in areas such as Lean Six Sigma Marketing and organized referral marketing. What others say: In the past 20 years, Joe and I have collaborated on many difficult issues. Joe’s ability to combine his expertise with “out of the box” thinking is unsurpassed. He has always delivered quickly, cost effectively and with ingenuity. A brilliant mind that is always a pleasure to work with.” - James R. If you want to learn more about Business901, start a conversation with us. We can be found @ Web/Blog: Business901.com Web/Blog: FundingYourNonprofit.com LinkedIn Profile Follow me on Twitter - Visit Joe Dager's Website |
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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Dianne CramptonDianne Crampton is an executive leadership coach, team culture consultant, author and president of TIGERS Success Series, Inc. Dianne has been helping CEO's and Executives connect their employees to their core values and goals for over 20 years using the trademarked TIGERS team culture process, which stands for trust, interdependence, genuineness, empathy, risk and success. To download a free white paper on behaviors that build strong teams and behaviors that will predictably tear them down go here. Dianne's contribution to the 2010 Pfeiffer Consulting Journal (an imprint of John Wiley and Sons Publishers) entitled TIGERS Hearted Teams is available in November 2009. Her new book TIGERS Among Us: 5 Winning Business Team Cultures And Why, Three Creeks Publishing will release in March 2010. To receive publishing discounts, subscribe to the free TigerTracks Newsletter here. - Visit Dianne Crampton's Website |
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Staging DivaDebra Gould, aka The Staging Diva®, is President of Six Elements Inc., an internationally recognized home staging company. Inspired by many requests from aspiring home stagers wanting to start similar businesses, Gould created the Staging Diva Home Staging Business Training Program. Gould has trained over 1000 Staging Diva Graduates worldwide to start staging businesses. Buying decorating and selling six of her own homes in four years lead to an interest in real estate staging which she turned into a career with the launch of sixelements.com in 2002. Since then she has staged hundreds of homes in addition to teaching home staging training. Gould is the author of several home staging resources including a series of popular ebooks made up of a Design Guide, Color Guide and Portfolio Guide. For more information about Debra Gould visit stagingdiva.com. - Visit Staging Diva's Website |
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Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.
As an independent film producer, his upstart film fund Aliquot Films is currently producing a films with Spike Lee and Abel Fererra (starring Ethan Hawke and Dennis Hopper.)
Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. Jay resides in NYC with his wife Jamie, son Milo and dog Cooper. Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website |
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