Connect with us

Success Advice

Don’t Dump Your Boss to Start a Business Without Doing These 3 Things

Published

on

Image Credit: Unsplash

“Fire your boss. Follow your passion. Own your time.” These statements, inspiring on one hand, are capable of luring many away from working a regular 9-5 job to becoming entrepreneurs. Statistics show that 6 out of 10 employees are fully dissatisfied with their jobs. Reasons vary from having a terrible boss to inadequate compensation to lack of interest. This makes entrepreneurship an attractive alternative instead of working for someone else. However, starting a business is not all rosy.  

Having a Great Idea Doesn’t Qualify You To be a Successful Entrepreneur

Yes, I said it! And not just me. Steve Jobs said “Ideas are worth nothing unless executed; They are just a multiplier, execution is worth millions.” All the great entrepreneurs you hear of today didn’t get there because of the sheer brilliance of their ideas. They had to put in the work. Many people actually get confused at the difference between having an entrepreneurial mindset and being an entrepreneur.

Those are two different things because having an entrepreneurial mindset means you are visionary. You have great ideas and can think outside the box. It also means you are willing to take risks to reach a goal. You tend to go beyond your job description to get things done. You are able to see how actions tie into the business outcome and channel your energies accordingly. 

Being an entrepreneur, and a successful one, is a different ball game entirely. It is being a business owner. One who runs all the moving parts of a business successfully. It requires some very strong attributes which are critical if your business will not just survive but thrive. 

“Success usually comes to those who are too busy to be looking for it.” – Henry David Thoreau

Here are the three things you must know/do before starting a business:

1. Conduct A Proper SWOT Analysis

You need to conduct reality checks for both you as an individual and the business you want to start. SWOT is an acronym that stands for Strengths, Weaknesses, Opportunities and Threats. Conducting a SWOT analysis will help you understand the business field you want to go into as well as what your advantages are. This can help you develop a strong business strategy that places you in the top percentile. 

Your strengths could be your knowledge, background, education, network, skills, or location. A question to ask yourself here is, “what competitive advantage do I have over other players in the industry?” Weaknesses are reflective of the areas where your business is not favorably matched to other competitors. You need to know them so you can have a developmental plan to eliminate these weaknesses. 

Opportunities are external positive factors that offer reasons why your business can/will flourish. Exploring these opportunities can help you stand out even in a crowded marketplace. Threats are negative influences that often are beyond your control but can affect the sustainability of your business. To be forewarned they say, is to be forearmed. Another critical aspect of a reality check is a personal psychometric assessment as an entrepreneur. 

The result of an entrepreneur’s psychometric test will show a summary of the individual’s strength of the characteristics they already have as well as areas where they need improvement. This is so they can have a successful entrepreneurial career. Attributes tested include passion, creativity, ability to take control, industriousness, knowledge/experience and pursuit of achievement. 

There are different tools that aid this kind of assessment. The result is not to discourage anyone from starting a business. Rather it offers insight as to what your personal strengths are and you can then make a decision as to how to proceed with your business goal.

2. A Roadmap for Getting Seen (or Getting Clients!)

Clients are the lifeline of every business. Without clients, you just have an expensive hobby. What is your plan for visibility? That is, apart from hounding family and friends. Some people actually are great at what they do, but suck at convincing others to pay for their expertise. 

Too many newbie entrepreneurs start a business and get stuck because they don’t have any clients and are trying every possible way to get leads both online and offline. This is not the time to run around trying different strategies. You might need to hire a business coach or get into a business mastermind to see what is working for others.

You will find out what works for you, but you need to get out there. The internet has made it a little easier by offering different platforms where you can share your knowledge and grow a community of people who know, like and trust you. 

Another quick method I always share with my clients is for them to explore sharing their message or expertise on other people’s platforms. When you have a solution, you are able to create valuable content for the specific audience you want to serve. You naturally show up as an authority and build your own audience from being featured. 

“Growth is never by mere chance; it is the result of forces working together.” – James Cash Penney

3. Low Hanging Fruits – Results! Results! Results!

People are more comfortable trusting a business that others have experienced. It is the belief that if you’ve been able to achieve one result, then it can be replicated. What that means for you as a prospective business owner is that you need to quickly prove your idea and record results as fast as you can.

You cannot begin to think about a fancy website, business funnels and the whole works, when you haven’t tested your idea. It will be folly to think of quitting your job in this case. It doesn’t matter what kind of business you want to start, you can always start small. Get a client, do the work, then get a testimonial. 

This person can get you referrals and then you begin to scale from there. When your income from your business has matched or surpassed your 9-5 job then you can resign. This might be an unpopular opinion but it is valid. Your bills won’t wait because you’re starting a business, and you still need to eat. 

While you think of investing to grow the business on a large scale, do the work to get guaranteed results in the interim. Working your regular job can become an unpleasant chore especially when your heart is lit with the dream of running your own business. Take the time to prepare adequately and you can guarantee that your business will not be among the statistics of businesses that fail in the first 5 years. 

Have you ever thought of being an entrepreneur, or are you already an entrepreneur? Share your stories with us below!

Ruth Zubairu creates innovative solutions for individual brands and businesses to amplify their message, impact lives and monetize their knowledge and experience, even if right now they have zero knowledge of tech and online tools.   She loves supporting busy women who are interested in building a business from coaching and thought leadership. Download her free report, Launch & Grow with Hundreds of Leads on Autopilot. As much as she loves making magic with digital tools, she cherishes her role as a wife and mother to her three boys. Connect with her on Facebook.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Success Advice

Mindful Productivity: How Top Achievers Combine Focus and Balance

By being aware of your emotions, thoughts, and surroundings, you can work with your internal and external environments

Published

on

Mindful productivity

Your big-dream goals matter … but not at the expense of your health. (more…)

Continue Reading

Change Your Mindset

The Art of Convincing: 10 Persuasion Techniques That Really Work

The knack for persuading others can act as a catalyst for change, open doors, forge alliances, and effect positive change

Published

on

how to be more persuasive

Persuasion is not as complicated as it may sound. In fact, it is something that we have been practicing since childhood. Do you remember convincing your parents to let you skip school, asking your teacher not to assign homework, or persuading your boss to give you a day off? Well, these are just small examples of what persuasion looks like. (more…)

Continue Reading

Success Advice

5 Steps to Leveraging Industry Speaker Events for Career Advancement

Jumping into industry events is a smart move for your career, but there’s a knack to it

Published

on

How to advance your career by networking

Jumping into industry events is a smart move for your career, but there’s a knack to it. It’s not just about sitting in a room full of people. You’ve got to find the ones that fit your career puzzle, dive in while you’re there, and then make the most of what you’ve learned afterward. (more…)

Continue Reading

Success Advice

Overcoming Plateaus: 6 Powerful Strategies for Breakthrough Success

A plateau is not a full stop; it’s a comma that allows you to pause, reflect, and shift gears

Published

on

how to overcome obstacles for success

In the pursuit of personal and professional growth, plateaus are inevitable. They appear when progress seems to halt, despite your continuous efforts. But remember, a plateau is not a full stop; it’s a comma that allows you to pause, reflect, and shift gears. This article provides six powerful strategies to overcome plateaus and achieve breakthrough success.

1. Find Out the Root Cause

When facing a plateau, there is likely something causing you to sabotage your progress. Identify the root cause. What is sabotaging your progress? Examine your daily routine and how you spend your time. Are you wasting time on unnecessary activities? Or are you taking on too many tasks that you can’t handle?

Often, adding more tasks overloads your already tight routine and distracts you from focusing on the most important tasks. Therefore, often eliminating unnecessary activity will work to overcome plateaus. However, be cautious of not doing things right, such as tasks you have not yet undertaken or missing something. What actions do you need to take or improve to achieve your goal? Are you avoiding them, or have you not started yet?

2. Never Tolerate Problems

Once you’ve identified the root cause, never tolerate problems. If you tolerate them, you’ll end up staying stuck. You get what you tolerate. Once you recognize the problem you’re facing, never tolerate it. Instead, address and improve the situation.

3. Focus on a 100% Solution and 0% Problems

To overcome a challenge, it’s essential to plan how to get through it. Yet, people often find themselves asking, ‘Why is it bad?’ or ‘What is wrong with it?’ Questions of this nature limit our thinking, leading our brains to generate responses like ‘Because you’re not good enough’ or ‘Everything is wrong with you.’ These limited answers tend to resonate with the situation and drag you down further.

Instead, ask empowering questions without limits, such as ‘What is not perfect yet, and how can I turn things around while making a more positive impact?’ By asking unlimited empowering questions, you’ll shift your focus from the problem to the solution. Additionally, you will also notice that asking empowering questions can expand available options and allow you to see from an angle you couldn’t see before.

Focusing on problems rarely yields positive outcomes. The key to positive results lies in concentrating on the solution. The next time you face adversity and notice getting caught by unresourceful thoughts, snap out of it and direct your focus to a 100% solution and 0% problems.

“Obstacles are those frightful things you see when you take your eyes off your goal.” – Henry Ford

4. Cultivate Success-Driven Traits

Identify the traits you need to have and get rid of to become the person you aspire to be. Consider your specific goals – for instance, attracting positive relationships. To achieve this, note down the traits you need to embrace, such as being open-minded, gentle, healthy, and treating others the way you want to be treated.

Cultivate a positive mindset. Simultaneously, get rid of traits like criticizing others, having a short temper, and engaging in unhealthy habits like taking drugs.

Learn from individuals who have achieved similar goals. Study their traits, both the ones they have and those they’ve consciously avoided. Implement these traits to align with the person you want to become.

Once you have your lists of traits to embrace and eliminate, diligently follow them. Place the list on your desk or the door of your room, ensuring you read it at least once a day to reinforce your commitment to these traits.

5. Track Your Habits

Carry a notepad to track your habits throughout the day, especially those contributing to plateaus, as well as your new habits or traits aligned with achieving your goals. For instance, if your root cause is excessive internet use, record instances of mindless scrolling on social media. Note when you engage, the emotional state prompting it, and the approximate duration.

Calculate the total minutes wasted at the end of the day. This habit tracking makes you aware of the emotions triggering these behaviors (stress, boredom, and frustration) and the time wasted.

Additionally, track positive new habits, like reading good books and exercising. Document what you’ve learned from the book and the time spent exercising. This practice helps you build new positive habits by enabling you to compare today’s results with those from yesterday or a week ago. 

Moreover, consistently sticking to new habits for around 18 months transforms them into lifelong habits. Even if you take breaks, you will find yourself naturally returning to those habits.

6. See Obstacles as Opportunities

Every obstacle can be an opportunity to turn things around. If the economy is in a downturn, it’s time to recognize it as an opportunity to thrive while everyone else is struggling and focused on the problem. If someone makes fun of you or causes you trouble, ask yourself, ‘What can I learn from this experience?’

Alternatively, consider that the person underrating you is setting low expectations, which are easier to exceed. If your business receives a bad review from a customer, see it as free feedback that guides you on how to improve and take your business to the next level.

Always try to see different angles that others may overlook. This perspective can reveal aspects you might be missing. When you view a problem as an opportunity, it has the potential to foster growth.

In the journey toward success, plateaus are just temporary pauses, not dead ends. So, keep moving, keep growing, and make your breakthrough.

Continue Reading

Trending