For the months I carried you, growing inside of me...
For the months I carried you growing inside of me… Entrepreneurs know the travails of starting and growing a business. The challenges associated with carrying a business from incubation to reality. It’s no easy task.
Career transitions, college students, and goal seekers all know how difficult it is to carry the burden of studies to get to the finish line. It’s no easy task.
Parents know how difficult it is to bear the burden of the change in lifestyle as a newborn is expected. It’s no easy task.
Let’s not forget authors whose stories became known from a dream, to a thought, to a page, to a book. Published! It’s no easy task.
So it is with whatever we put our minds to. Whatever we decide to do from idea, thought, dream, goal… it is not going to…
Busy is good. That’s my favorite response to entrepreneurs who express that they are busy.
You see, we have all been there when there is nothing to do. No job. No contract. No financial inflow. What frequently follows is sadness, apathy, boredom, inability to meet financial obligations and the list goes on. For sure that ain’t good for our mental state and wellbeing.
Among Others
An 80-year-old grandmother was busy going to the gym, church, shopping, Medical visits to the doctor. Those activities kept her busy. It made her feel alive. Then suddenly her husband also retired. Now they both sit at home watching golf, tennis, jeopardy and wheel of fortune on TV. This past weekend she spent time in the hospital. Latency had stepped in.
The Deal
That’s what happens when we are not busy. It happens to entrepreneurs, workers, student or retirees. There’s no respect of persons.
If you’re one of the many millions of people hoping to start a new business this year, congratulations. This is a journey that you will never forget. There are many twists and turns down the path toward entrepreneurship, and your actions now can make it a much smoother process in the days ahead. Today, the Success Strategies blog touches on a few things that all aspiring entrepreneurs should do when starting a business in 2022.
1. Evaluate Yourself
First and foremost, you have to evaluate yourself. Do you really have what it takes to be an entrepreneur? According to Alcor Investment Services, entrepreneurs don’t procrastinate and are continually solving problems. If you are the type of person that makes plans and takes action on them, you might be a great candidate for entrepreneurship. In addition to these “soft” skills, you should also be at least somewhat versed in marketing, financial management, and customer service.
2. Decide on a Business Structure
Business structures are not just for major corporations. As a small business owner, you have the right to form your own entity. Doing so now can help legitimize your business. Consider filing as an LLC, which is a limited liability company. There are many advantages here, including lower taxes and reducing the possibility of your personal assets being targeted in case of a serious business flaw. You can use a local attorney or an online formation service, though the latter is much more affordable than the former.
3. Utilize Free Tools and Services
Even when you’re a small business, you must be prepared to break out your wallet (more on the financial commitment later on). However, that doesn’t mean that you can’t get some things without writing a check. You can use Google Docs to collaborate with your employees and customers and you can even find an image size converter online that allows you to upload photos to your website and social media. Although it might seem like a small thing now, fewer pixels in your images will make your site load faster, which can increase the amount of time customers spend on your domain. Search Engine Journal acknowledges slow load speed as the number one reason that people move to a different website.
4. Stay Motivated
As an entrepreneur, you will experience successes and failures. It is during these failures that you must remember to stay motivated and never give up.
5. Understand the Financial Commitment
Starting a business is a huge financial commitment, and many small business owners are unprepared for the sheer number of checks that get written each week. Remember, you have not only your startup cost but also business filing expenses, taxes, payroll, inventory, and more. Although this might sound like a lot, don’t despair. There are plenty of deductions you can take, especially if you use your home as your office. CPA Mark J. Kohler notes that you may even be able to deduct part of your vehicle expenses as a home-based business owner.
6. Strategize
Running your business means prioritizing everything every day. One thing you cannot forget is to pay attention to your customers and the competition to find out what they want. To do this, you will need to do market research and implement a product roadmap when you are ready to launch something new. Use a template (another potentially free online service) that helps you set deadlines and understand where you may have trouble in the process. Having your product launches mapped out ahead of time will help you prioritize and set more reasonable goals.
Launching your own business is one of the best ways to create wealth for yourself and your family. Although it may seem intimidating now, trust that you will soon have the experience to navigate the world of entrepreneurship with your head held high. Remember, no one ever got rich working for someone else, and your fears are the only thing stopping you from mapping out your own path toward success.
About The Author
Nicola Reid is an entrepreneur and small business owner from Texas. She created Business4Today.com to provide access to the resources members of marginalized groups need to turn their entrepreneurial dreams into reality. Through her site, she hopes to support the growing number of people of color, women, and members of the LGBTQ+ community who are taking the leap into small business ownership.
What’s the Biggest Lesson Learnt in the Last 12 months?
The question was asked of entrepreneurs and business owners. What is your biggest lesson learnt in the past 12 months? More than 1,300 individuals replied. I’ll share excerpts.
You’ve gotta push beyond your comfort zone
Just do it. Don’t think too much, and don’t let your fear overcome you and stop you from taking the step
Money is just an illusion
Humility
Gratitude
Appreciate and value people in your circle
Patience
We become what we think
Don’t trust people
Reduce your debt. Dont borrow to buy luxury
You are responsible for everything, including most importantly yourself
Life will hit you with a brick on the head at the most unexpected times. Don’t panic, stay positive, and move on.
A ship in the harbor is safe, but that is not what ships are built for. ~John A. Shedd
The Quest for Entrepreneurship has risen to new heights. 101+ Quotes For New Entrepreneurs contends that with over 25 Million Americans starting or running new businesses, entrepreneurship has become incredibly attractive, yet extremely difficult to sustain. Adding to the excitement, the Gig Economy’s Freelancers comprise over 35 percent of the U.S. Workforce. Even with the traits of fearlessness, risk-taking, passion, resilience, and creativity, difficulties arise, and Entrepreneurs need to keep going.
Keep The Dream Alive
Here I share my 5 top books that can help New Entrepreneurs keep the dream alive.
Good To Great By Jim Collins shares the result of a study about businesses that were not born with great DNA. Can good companies, mediocre companies, even bad companies achieve enduring greatness? My own research on Success Strategies of Caribbean American Leaders…
Giving up is common. Not only among Entrepreneurs but also among all of us as individuals striving to achieve our goals. I looked deep into this pictogram to assess what I’ve come across as a coach. Here’s the detailed list clearly extracted from the picture.
Entrepreneurship improves productivity, spurs innovation, and creates jobs. This is the notion postulated by the Center for American Entrepreneurship. Thriving for independence and financial growth, many are the aspirers who long for the zeal of owning and managing their own business. But do you have what it takes to dive right in?
In a Shark public forum the question was asked” What three skills do you think Entrepreneurs need to be successful? Hundreds chimed in sharing both skills and traits.
Society has changed since the Pandemic and so has work. With the world-wind of changes as society continues to evolve, many are left struggling to catch-up.
So How Do You Survive?
So how do you survive? Here are a few ways that SHRM encouraged organizations to update and/or create policies that address the new norm at work.
If and how the organization will conduct temperature checks, whether it’s done directly, through a third party or by self-reporting.
Cross-training the workforce to accommodate more employee absences.
Social distancing in the workplace.
Essentially, employers should have employees sign policies that address safety at work to lessen the potential spread of the virus at work.
Employers should provide employees with face coverings if they can’t remain at a safe distance from each other or those who travel.
Keep in touch and Communicate with temporarily laid off or furloughed employees. Some suggest providing at least 36-hour notice if calling employees back to work.
Here’s a hug for you, and for you, and one for you.
But Hold up! With the advent of the Corona virus we are not supposed to be hugging right? It’s called keeping your social distance. We are now forced to find new ways to greet others at social gatherings such as in the networking sphere.
5 Ways To Greet Safely
Here are 5 Ways:
Look the person in the eye and use your feet to greet (shown in video). It’s called the Wuhan Shake.
Wave to say hello
Fist Bump
Head nod
Just say hello
There are tons more circulating but for now as we battle the Corona health pandemic, these should help bridge the gap.
You spend most of your day doing exactly what you wanna do when you wanna do it.
Alana has a craving that she wants to fill real time but she can’t leave the house. She gets on her Uber Eats App, orders ice-cream. 20 Minutes later a delivery person shows up with a bag that she’s able to indulge and satisfy her craving.
Going to the airport and can’t be bothered with the parking headache? Enter Uber. You call a cab on your App and within minutes a driver shows up. You get to the airport and what’s more you do the reverse on your return.
A full-time employee messes up, they’re fired at will and an immediate skilled replacement is contracted until the employer chooses to fill the position long term. Alas often it seems workers in the Gig economy are ‘hired‘ to work on demand for a revolving period, then exchanged for a replacement for yet another short term. The perceived benefit —no payment of fixed benefits costs.
Gig Economy Defined
In a Gig economy, temporary, flexible jobs are commonplace and companies tend toward hiring independent contractors and freelancers instead of full-time employees. ~Investopedia.
We could go on and on. Convenience is the order of the day. We want it done and right away. In our microwave society everything is almost immediate. If that need is not met, we scream in complaint, throw a fit, become enraged, cancel orders and more.
Autonomy
A young millennial smiled in response to a news-reporter’s question. She spends most of her day doing what she wants… when she wants. She commutes around town charging scooters. This is a common comment from this generation. Autonomy is the order of the day. Gone are the days when they leave school and get a life-time job. They want autonomy. They want to work when they want to work because they enjoy tremendous flexibility, independence and rid themselves of monotony.
Susan Milligan in a Society for Human Resource(SHRM) article asserts that there are two types of gig workers. Those who have no desire to work full-time and those who are in the midst of a job search for full-time opportunities but will work to get an influx of cash while they search. I dare say there are still those who work full-time but need to increase their income to save for a specific goal, as an Uber cab driver shared with me in New Orleans. Her daughter needed to travel for a school event so she was driving at nights to give her the opportunity to attend.
As this phenomenon becomes more widespread, the downsides of a lack of sustained income, benefits, responsibility for their own taxes sometimes attracts stress. But it seems the supplemental income drives the benefits for temporary or long term gain. The ideal getaway can be had by doing some gigs on the side or on a sustained basis. No need to be turned down due to scheduling issues. They go when they want and where they want.
The Change. The Times.
Signs of the times. Caution to employers or older generations who want to hold on to tradition. A career that lasts a lifetime – work for years with the same company then move on when retired or sadly these days, are replaced by the rapid changes in technology and innovation.
As I have always cautioned, to stand still is to be left behind. Embrace the changes, do what you must and survive the long haul. Thoughts? Do share. We would love to hear.
You’ve got to work hard for your success and you’ve got to have a steady presence. That’s the secret. ~Kid Rock
Must. Go. Faster. So said the Ad. But in this case they were talking about getting away from a tyrannosaurus chasing themin the movie Jurassic Park.
But I’m thinking if it from life as we strive towards our goals. Must. Go. Faster.
The Difference
But there’s a difference. Seeking goals is not about speed but steadiness…as in studying to getting an education. Just stick to it. Speed create mistakes as in microwave marriages these days. Jump in before knowing the person. What of education? Would you like a surgeon to operate on you knowing he got his degree in a month? One would question that.
And even a stellar athlete /Olympian. It takes years of practice to achieve the success that lasts.
So today be mindful of your goals. Speed is not the real deal …unless you’re running to save your life from creatures like a tyrannosaurus.
Good To Great By Jim Collins shares the result of a study about businesses that were not born with great DNA. Can good companies, mediocre companies, even bad companies achieve enduring greatness? My own research on 
Success Strategies 