Oct 28 2012

The 4th of 10 Things Nobody Tells Entrepreneurs

You will NEVER

                                  

have enough money

                                    

to start a business!

                                 

“Yeah, yeah, I’ve heard this before,” your stubborn venturesome self may say by way of dismissing the ugly truth, but dismissing reality doesn’t make it go away. Your offhandedness will inevitably come back to nip you in the tush. UNLESS! Unless you can get yourself to accept reality unconditionally and plan (that nasty entrepreneur word again) accordingly.

Ah, and one other very important asset you need to bring to your business startup table: PLUCK! [No, not as in fingering a banjo!] Pluck as in backbone, bravery, courage, daring, fortitude, gameness, grit, guts, mettle, moxie, nerve, zestspunk. This is not to suggest recklessness in talking money. It is rather to suggest being realistically bold and fearless.

“Realistically”?

If you grow your business idea to the point where a major infusion of someone else’s cash or equipment is needed in order to survive and/or continue to grow, you’d better be prepared to give up total control in exchange. This translates to the need for you to be prepared to hedge your bet, and possibly diversify your interests (if your investors allow you to!).

Starting a business is not a task for the meek. It is not a retirement or corporate escape. It is not a hobby. It is not simply taking advantage of a spur-of-the-moment opportunity. It is not a one-night stand. When you start a business, you marry your idea! Without some grand inheritance, how many marriages start out with enough money?

No matter how carefully you budget and think through where your idea is headed, no matter how much arm-in-arm support stands with and around you, no matter how many promises you get from vendors, suppliers, ancillary services, and government agencies, you can be sure of only one thing: You’ll never have enough money to start a business.

So? So assess yourself first. Don’t dwell on it, but do be honest. Determine exactly how much pluck is inside you, and how realistic your attitude is. See where and who and how to plug the openings. If you don’t, your startup efforts are destined to fall apart and your financial exposure will be crippling.

You need to substitute for being under-capitalized by rallying your strengths and surrounding yourself with the reliable strengths of others whose skills and experience can fill in your gaps! It CAN be done. Many have succeeded. But many more have failed. The difference is pluck and a realistic attitude. How much of each have you?

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Hal@BUSINESSWORKS.US
National Award-Winning Author & Brand Marketer – Record Client Sales

Open Minds Open Doors

Make today a GREAT day for someone!

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Nov 21 2011

BIZ ALPHABET SERIES…”Z”

The final subject of this, the world’s first BIZ ALPHABET Series of blog posts! (Check out “A” – “Y”)

                                            

“Z”…ZEST

                              

ZEST (not the soap) refers to you and your business . . . ardor, élan, gusto, joie de vivre, lust, oomph, passion, pep, pizzazz, tang, vitality, energy, zing,  zoom, zip,  zap . . . either you’ve got it or you don’t.

If you’ve got it, you can make it better. Start here now. If you don’t have it, you can get it ignited here, now. Free. No strings attached. No gimmicks! Just you and your business, and me.

~~~~~~~ 

Sounds good, you say, but who cares? Uh, your customers, your employees, your suppliers, your investors, your lenders, your community . . . and your family. Does that work for an answer? This is not just another lecture on motivation. It’s about operating your business with a competitive edge.

Let’s get to it: When did you last ask a few customers why they do business with you instead of with __________ (fill in the name of a leading competitor)? Oh, you did a survey? Well, that’s great, but there’s nothin’ like the real thing, Baby, goes the old song, and there’s nothing like straight eyeball-to-eyeball answers.

Whatever you hear back, by the way, accept and be appreciative. Do not criticize. Do not “Yes, But.” Do not argue or dismiss. There’s a reason for everything. Take it in. Write it down. Smile and say thank you. Go off and think. Odds are pretty good that the answers you’ll get will have something to do with your attitude and approach.

In other words, HOW you deal with customers, employees, and others around you is what determines more than anything else why your customers are your customers. And it’s that reputation that attracts other customers. So, if these assumption about how you deal with others is even just half right, you already have a competitive edge.

It may simply need –like the holiday carving knife– a little sharpening. Start by asking yourself if you and/or someone else who works with you have been partly or largely responsible for positive customer feedback. Do you appropriately reward that behavior when it comes from others. Rewarding positives breeds more positives.

If you get feedback that attributes your business strength to other factors –price, quality, convenience, etc.–you need to giddy-yap over to your customer service counter/person/policy/strategy/whatever, to fix it or make it better.

Why? Because in this lousy economy, it is frankly not a good sign that anything other than your outstanding service should be the #1 factor quoted by customers. You cannot any longer compete on price or packaging or quality or convenience or sustainability. Anyone with the know-how and gumption can beat you on those points. 

But no one else can be you!

                                                                       

No one else can treat people exactly the same as you, and therein lies your single greatest and unique competitive edge — it’s the differential that you, exclusively, can offer. Have you ever by-passed others and gone out of your way to deal with a particular business because you relate better to the source? Of course you have.

We all seek individuals and entities we feel offer more integrity, more authenticity, a better reputation, provide more extras. So your customers are different? What’s keeping you from adjusting, over-hauling, boosting or perking up your business approaches and attitude NOW? Aren’t roadblocks, after all, a matter of choice?

Choose more of what works. Put a little spice in your spirit! And remember what you put out and how you come across — your spirit — is yours alone. No one else has or can use your strengths. 

                                                       

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Hal@Businessworks.US  302.933.0116

Open  Minds  Open  Doors

Many thanks for your visit and God Bless You.

Make today a GREAT day for someone!

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