Just because your business is small, doesn’t mean that you should limit your entrepreneurial vision. In fact, often businesses will suffer not because your dreams are too big, but because your thinking is too small. That’s why it’s important to start developing bigger dreams, bigger goals and bigger visions if you want to achieve bigger in your life and in your business.
Goals are vital to keeping you on track. They push you to stretch yourself, and help motivate you to keep working hard to achieve them. But often, the goals we set for ourselves or our business are in fact too achievable. When setting your goals, your immediate thought should never be, “I can do this” or even “it’s a bit of a stretch but I can get there”. If this sounds like you, then chances are your dreams are too small and your goals too easy to achieve. A powerful and effective goal is one that leaves you thinking “I have to completely rethink how I do things to achieve this”. Of course, you may not achieve your goal right away, but by working towards it you can be sure that you’re headed in the right direction.
Thinking big should be something that filters down throughout all aspects of your business strategy. Even though you may start out being the only employee at your company, taking on all the tasks that need to be done, it’s important that you have a bigger picture in mind when it comes to people. Spend time thinking about all the roles you will need within the business and the tasks associated with each position. Perhaps even go as far as writing out the job descriptions for each position, so that you have a good idea of all the work that needs to happen in your business right now. An added bonus is that you can also start thinking about the type of person you would be looking for to eventually fill the job.
The next step is to figure out how these roles fit together by plotting out an organisational structure for your business. This will not only help you develop a clear vision of where your business is going, but will also allow you to prioritise how to expand by understanding who will help you reach your goals the quickest.
By thinking big, you’ll soon notice that you’re able to see big. And with this new perspective comes a newfound bravery that can help you take the necessary risks that you may have avoided in the past. This fresh understanding of what it takes to reach your dreams, will allow you to be more prepared to try new things that can help push you forward to achieve your goals.
Now tell us, are you setting those big brave goals or staying safe? If you are staying safe but would like to challenge yourself a bit more, to get your business growing faster. Then maybe our Business Lab is for you. Book a free discovery call to find out more about it. You can book it here.
Have a wonderful day!
Although rewarding and exciting, the journey to starting a successful business is often littered with potholes. And while there’s no fool-proof way to achieve start-up success, you can learn from the mistakes of myself and others to help make sure things go as smoothly as possible.
Here are our top five mistakes start-ups make that you should try to avoid.
1. Expecting success straight away
To develop a successful business takes time, hard work and a lot of perseverance. All too often new entrepreneurs get disheartened when they don’t achieve immediate success. Even worse, a lot of businesses crumble before they even begin, as they’re unable to deal with the challenges that come their way. By planning for the worst, you can make sure to put the necessary safety measures in place so that if the business takes longer than expected to get off the ground, you’re able to cope.
2. Creating the perfect product before your start selling
Why waste time perfecting a product that nobody wants to buy? Rather, focus your energy on developing a MVP (minimum viable product) that you can use to test the market. This way, you’re able to gain valuable insights from actual consumers, which you can then use to further develop and perfect your offering down the line. Trying to be perfect at everything from the get-go can be detrimental for a start-up, and can really slow down your momentum. That’s why it’s important to always consider the cost versus benefit, helping you prioritise what is essential to the core product.
3. Trying to do all at once
As an entrepreneur, time will always be your nemesis. With an endless list of things to do and only limited hours in a day (not to mention limited funds in the bank), it’s essential that you learn to prioritise the most important tasks that are actually going to earn you money. Focus on the crucial few tasks that bring the most rewards or add the most value to your business, and then let the rest of it take a backseat.
4. Not knowing who your ideal customer is
When it comes to marketing and selling your product, it’s vital that you have a good understanding of who your ideal customer is. In today’s world, it's not enough to simply try a broad approach to marketing, you need to understand your customers inside out. Take the time to do the necessary research to find out who you’re trying to reach and where you can communicate with them. Understanding your customer will also drive your marketing
strategy, playing a key role in helping you decide how best to engage with your target market, so that your efforts are well-received.
5. Not understanding social media for business
Gone are the days when your business could get by without making use of social media. But to get the most out of social media, you need to do more than simply have a presence. At the very least, you need a sound understanding of how each platform works, which ones to focus on, and how your business can use them to harness the marketing potential of the Internet. For example, running ads on social media is an easy and cost-effective way to get your business seen by you target market. Tackling something new may be intimidating and take time to learn, but if you’re not willing to adapt and embrace technological advances it can really hurt your business.
So, there you go a few mistakes to avoid when starting out. If you’d like some help in regards to what actually TO DO starting a business then grab your copy of our free Start A Business Toolkit, it outlines all the first steps you need to take to get your business off the ground. Get your toolkit here.
Have an amazing day and remember it is never too late to create a life you love!
Many people have great ideas, but very few are able to transform these ideas into successful and profitable businesses. This is often because there are far more factors at play than simply having a great idea! It’s also the reason why it’s so important to spend time doing the necessary groundwork and researching your business ideas before investing too much time, energy and money into them. Thorough research will help keep your expectations in check, while also uncovering any potential challenges or potholes in your thinking. But how do you go about researching an idea? Here are four quick and easy things you can do to help you evaluate your big idea.
1. Do a price point check
Regardless of your product or service, identifying the right price point is vital to successfully starting up any business. By figuring out how much can you charge, you’ll quickly learn how much you need to sell to make a viable and profitable business. But figuring out your price point can be tricky. If priced too high people won’t buy it, but if you ask for too little then your profit margin slides or people may presume that your product is poor quality. To figure out your perfect price, you need to first factor in all your costs and then see how you can maximise your margins while still remaining attractive to customers. It’s also a good idea to look at what competitors are charging, as this can serve as a good guideline to what your future customers may be prepared to spend.
2. Learn about the need
The best way to learn about the needs of your target audience is to simply ask them by putting together a focus group of relevant people. The point of this exercise is to figure out whether there is in fact a demand for your business idea, how people feel about existing products currently available within your market, and how much they would be prepared to spend on your product or service. Reach out to friends and see if they would be willing to help you test out a business idea and provide some feedback. Your goal should be to put together a broad group of people, instead of simply focusing on close friends and family who are more likely to give you a biased response. By sending out a quick and straightforward email survey you can gain valuable insights from honest responses. Social media means that you now have access to a far greater network of people than you previously would have, so don’t be afraid to ask for feedback and/or advice via a status update too.
3. Understand your competition
A great way to help develop and improve your business plan is to analyse your competitors. If you can figure out what they are doing wrong, you can adjust your business to cater to your customer’s needs by providing a superior product or service. A good starting point is to read customer reviews of similar competitor businesses. For this exercise make sure you focus on the very bad reviews, as these are likely to give you the most insights and guide you on where you can improve, or what you should avoid.
4. Do a SWOT analysis
Although it may seem obvious, few things are more beneficial to researching your business idea than conducting a good old-fashioned SWOT analysis. A SWOT is an analysis of the strengths of your business idea, product or service; the weaknesses of your product or service, and potential opportunities and threats to the industry. By gaining a greater understanding of the strengths and flaws of your business idea, looking at everything from product development and cost, to external factors such as foreign exchange rates, politics and market trends, you’re sure to gain a better understanding of whether your product or service is likely to become a success in the current environment.
Now you have four ways to get better understanding if you have a viable business idea or now. Next, maybe some extra feedback and support is of interest? If so come over to our Facebook group TAC She Sisterhood and say hi. It's a group full of likeminded women on their journey to create a life and career or business they love. Hope to see you there.
Starting a business and leaving the comfort and security of a job for a more uncertain financial future is a big step. It’s why far too many people are sitting in jobs they hate, too afraid to take the plunge. If this has always been a dream of yours, then perhaps it’s time to stop procrastinating. Here are five reasons why you should quit your job to start your own business.
1. Prioritise Passion
Starting your own business means that you can make a living while pursuing something that you have a strong passion for. This often leads to more fulfilment and a happier life in general. Working for someone else means that you don’t get a choice in the projects you work on or the clients you work for. When you are your own boss, you have the autonomy to decide which projects you accept and which clients you don’t want to work for. Essentially, you’re able to build the career you want.
2. Flexible Lifestyle
Are you tired of the typical corporate grind and sitting behind the same desk every day? Starting a business can be a way to lead a more flexible lifestyle. Working for yourself means having the freedom to plan your schedule according to your own productivity instead of being bound by eight-to-five work hours. It also means that (deadlines permitting), you can schedule in medical appointments, exercise or personal meetings during non-busy times of the workday, allowing you to live a fuller life. Flexibility can also mean working from wherever you want. Whether you’re at home, the local coffee shop, or even on an exotic beach, for a lot of businesses all that is needed is a good Internet connection. Plus, gone are the days of the hours spent commuting from your home to your office during rush hour traffic. Even if you do work from an office space, you can plan when you go into the office to avoid wasting time in traffic. This means you’re more productive and less stressed.
3. No Job Security
In today’s world, no job is truly secure. With so many retrenchments happening across industries, who’s to say that holding down a permanent position is more secure than creating your own business? If the company you work for can find someone cheaper to do your job, your position is at risk. In today’s increasingly automated world, more and more people are being replaced by technology and algorithms, which is why it is more important than ever to oversee your own destiny.
4. Learn New Skills
Starting your own business, whether in the form of a product or service means that you will have to learn and master countless new skills. From learning how to manage your money and keep up with your financial paperwork, to strategizing and project managing your business growth, the learning potential for new business owners is endless. Plus, not only are you up skilling yourself by learning all the elements that go into running a business, but you’re also opening yourself up to endless possibilities as the master of your own destiny.
5. Earning Potential
Although there are no guarantees, there is some comfort in the knowledge that the harder you work on your own business, the more you can potentially earn. Even if you work overtime in a regular job, you’ll always only be taking home the same salary at the end of the month. When you start your own business the days of putting in extra hours for no return and watching your employer pull in the profits will be over.
What do you think? These were a few reason to take the big leap and go for it. To realise your dream of having your own business. If you are serious about starting a business then maybe our Business Lab is for you, book a free discovery call to find out.
Have an amazing day!
The advent of the internet has created a world of opportunities for those who prefer not to be tied down to an office. People around the globe have found creative ways to craft careers to match their lives, instead of trying to make their lives. So, whether you dream of working from the comfort of your own home, having more flexibility in your life or simply to have a career you can take with you wherever you go or move, here are 4 creative ways to make these dreams come to life.
Go with your experience.
Perhaps the easiest and safest way to start a new business is to focus on what you’re already good at and what you know best. Look at your CV and evaluate where your strengths lie and what skills set you apart. Make sure you focus on the value that you’re able to offer, as this will be your competitive edge within your market. You can do this by simply asking yourself how your expertise will allow you to help people or improve their lives? The next step is to challenge yourself to look beyond the core activities of your most recent role and see how your skills can be applied in different ways. Is there the opportunity to use these skills to start your own consultancy? Or if you enjoy training people, perhaps you can focus on coaching people in your field as opposed to offering these services yourself.
Follow your passion.
To have a truly meaningful life, you need to be passionate about what you do, especially when it comes to starting your own business. Do you have a hobby or passion that could be turned into a business? Maybe you have a knack for writing funny slogans? Or spend all your free time making the most beautiful greeting cards for your friends and family? Whatever your passion, perhaps it’s time to consider making it into your paycheck. As the saying goes, if you love what you do, you’ll never work a day in your life.
Meet a need.
Another good way to start a business is to identify a gap in the market, and find a way to fill it. This way you’re sure to build up a strong customer base quickly, taking some of the risk out of starting your own venture. Plus, it’s great to feel as though you are making people’s lives better with your product or service. Is it difficult to find a good tailor in your area? Are there no good coffee spots on peak morning traffic routes? Is there a global trend that is yet to find its way to your city? Whatever the need may be, if you’re able to offer a good solution, you’re in business!
Follow your dream.
Do you daydream of a life you wish you had? Start a business that is line with achieving that dream and you’ll be sure to stay dedicated, as every step you take will be a step towards achieving your ultimate goal. If you didn’t have to deal with the limitations of money, work permits or education, what would you do? If you could choose anything in the world to be remembered for, what would it be? By connecting with this long-term vision for the future and making a solid plan for today, you’ll be able to start moulding your life into exactly what you want it to be.
Those were four different ways to start a new career, then there are also a number of things to avoid. Download our free guide '5 mistakes to avoid when starting a new career' to learn what they are and what to do instead. You can get it here
Have an amazingly good day!
Most entrepreneurs don’t have the luxury of being able to invest all their time and money into their startup from the very beginning. With bills to pay every month, it’s a huge risk to quit a full-time job and start up a new business, especially if you don’t have a nest egg of savings to keep you. That’s why so many businesses start out as side projects.
By starting your business as a side hustle, you can comfortably grow the business in your spare time, while still being able to pay your bills and take care of your family. Once the business starts to take off, you can then make the choice to turn your passion project into your full-time gig. It may seem daunting to start a business while still working a full-time job, but there are plenty of examples of women who have made it work! Be inspired by these successful businesses that grew out of side hustles.
Nasty Gal - Sophia Amoruso
One of the most well-known side-hustle success stories comes in the form of Nasty Gal, an e-bay business that grew to become a $100 million-plus online fashion retailer with more than 350 employees in just eight years! Sophia Amoruso started the business at 22, as a way to make some extra cash, but soon found that she had tapped into a market that had huge potential for growth.
Chewbeads - Lisa Greenwald
The best side hustles often come out of a personal need. At least that was the case for Lisa Greenwald who came up with the idea of Chewbeads shortly after the birth of her son. Lisa noticed that her baby loved to put everything in his mouth, most of all, her necklaces. But she was always concerned that they may break or be coated in unhealthy chemicals. Her range of soft, non-toxic jewelry, is colorful, chic and above all else safe for children to chew on. The company quickly grew to the point that Lisa was able to quit her job in the fashion industry to focus on her business full-time.
Bookishly - Louise Verity
Bookishly started out as a hobby, where Louise made little prints onto book pages and framed them into block frames. She soon started selling her creations on Etsy, while working full time in HR. It was only when Louise fell pregnant that she decided to use her extra time while on maternity leave to really focus on growing her side hustle and by the time her leave was over, she decided to quit her job altogether. Today Louise earns double what she was earning when working full time in HR and only works four days a week.
These are only three stories and three different ways how a side hustle grew in to a full blown business. Are you thinking of starting a business but not sure where to start? Check out our live workshop ‘Start the Right Business for You’ maybe your time is now?
Have a fantastical day!
Most of us spend more time at work than anywhere else, which is why it’s so important to make sure that all this time is spent wisely. Of course, going through ups and downs at work is completely natural and you may feel like pulling your hair out at the end of a tough week, but how can you tell when it’s actually time to quit? Making this choice can be confusing, so we’ve put together this list of 5 ways you can tell it’s time to leave your job.
1. You dread going to work every day.
We all know the feeling of wanting to roll over and go back to sleep when the Monday morning alarm rings. But if the very thought of your job brings up emotions of anxiety, dismay, fear or dread, it’s probably time to get out of there. Try to pinpoint exactly what it is about your work that is making you feel this way. Is it the people you work with, the tasks you’re doing, or have you simply lost your passion? By understanding the cause of the negativity, you’ll be better equipped to plot your next steps.
2. Other parts of your life are suffering.
No job is worth sacrificing your health or important relationships. Are you struggling to sleep, gaining weight, feeling depressed and anxious, or suffering from headaches and frequent illness? These could all be signs that you are overworked or overstressed. Is your partner constantly complaining that you spend too much time at the office, or do you come home so tired you can’t even enjoy spending time with your kids? When your job starts to affect your personal life or health, this is a major red flag that something isn’t right. Try to find ways to minimise your stress and workload, but if you can’t perhaps it’s time to find an alternative solution.
3. The work environment is really bad.
When a company culture is full of blame, infighting and Nobody wants to be stuck on a sinking ship, so if you feel as though the company you work for is circling the drain then it could time to look for jobs elsewhere. Look out for signs such as losing big clients, tighter budgets and resignations within upper management. To excel in your own career, you need to be a part of a company that is growing and developing, not one that is struggling to make ends meet.
4. You aren’t learning or advancing in your career.
One of the easiest ways to know it’s time to leave a job is when you feel as though you aren’t learning anymore. All too often people find themselves stuck in the same role for too long, making them complacent or bored. If you feel as though you’ve been pigeonholed in a position with little chance of being promoted, especially if you have asked and made it clear, then it’s not worth hanging around. Although it may feel comfortable, a truly fulfilling job should always challenge, upskill or develop you in some way.
5. You have a bad boss.
Do you feel that you know more than your boss? Are they incompetent or take credit for your work? Does your boss blame you when things go wrong? These are all signs of a bad boss! If you have a boss who leaves you feeling miserable at the end of every day, it’s time to leave your job before you lose your confidence altogether. Maybe there is another opportunity within the same company, if so explore, if not then time to see what else is out there.
Maybe you now know it is time for something new. Then download our free guide '5 mistakes to avoid when starting a new career' so you can learn what they are and what to do instead. You can download it here
Remember, it is never too late to create a career and life that you love.
HANNA GIRLING, wife, mother, business owner, mindset coach, sport enthusiast and forever an optimist.