Once again here’s another exciting post in the One Thing Series. Where I have asked successful entrepreneurs and those doggedly pursuing their goal of self employment one question: “What is the one piece of advice you would give someone if they told you they were starting a business and you could only tell them one thing to help them out?” Today’s guest post is brought to you by Brenda Dunagan, founder of 7 Chapters. Here is Brenda’s One Thing:
I recently was asked what one bit of advice I would offer to someone who is considering starting a business. It’s a simple question that is hard to answer, but one word immediately came to mind: GET.
Get started.
This was the advice given to me by Dan Miller, author of 48 Days to the Work You Love and No More Dreaded Mondays. At that point, I had no idea what I was good at or what my business would be, but I took his advice and just started. Most business owners don’t go into a business knowing exactly what they will be doing in ten years. Even if they think they know what that will be, it will probably change along the way. If you’re waiting to know the whole story and plan every detail before starting a business, the fact is, you will never start. If you’re waiting to become an expert in something, you will never start. Sometimes you have to take what you have and begin to build on that. Consider the entrepreneurs you know who are successful in business. Look back to when they first started versus where they are now. What you see may surprise you. In fact, you may see that you are already ahead of where they were at that point. What is the difference between you and them? Just this: THEY STARTED.
Get over it.
Hurdles. Speed Bumps. Roadblocks. Let’s face it, life is full of them. And when you’re starting a business, you will encounter them on a daily basis. Finances, time, fear, lack of confidence, issues of the past, relationships – no matter who you are, you will face these. So how do you handle them? You handle them just as if you were driving a car – you go over them or you detour around them. They may slow you down, but they do not have to stop you.
Get help.
This goes hand-in-hand with the previous points, and it is absolutely key. At some point, you will need help. You will need help getting started. You will need help overcoming obstacles. You will need help with the operations of your business. Everyone, at some point, needs help. But here’s the thing – not everyone is smart enough to ask for it. This was a valuable lesson for me, to learn to ask for help at critical points along the way. Sometimes you need the encouragement of your spouse or a friend. Sometimes you need the expertise of a certain business coach. Yes, this will cost you. But it’s a worthwhile investment. I engaged with three different coaches along the way, each bringing a defined field of expertise to the table. And it was profoundly life-changing. You will also need a community of like-minded entrepreneurs. For me, this was found in www.FreeAgentAcademy.com. Free Agent Academy is a business community that offers a comprehensive program for building, growing, and maintaining your business that is like no other. I took my dream to their virtual doorstep, and they helped me turn it into reality.
Get educated.
Education is very important, but I purposely did not list it first. Education is not about credentials; it is about knowledge. And a successful business person carries that knowledge to a place of wisdom. I have seen many MBA’s, graduates at the top of their classes, fail in business and in management decisions. I have witnessed firsthand how a Fortune 500 company can be driven to bankruptcy by unwise decisions of a highly credentialed management team. Education is only important to the degree that it serves a purpose. So if you’re waiting until you have the credentials to start a business, don’t. Start now. Consider Bill Gates and others like him. Start with where you are and be a lifetime learner. Read. Take classes that you need. Constantly develop and hone your skills as you proceed forward with your business. Sadly, I am confronted daily by those who want to start a business but who have not invested in themselves educationally for decades. Their grammar, mathematical, and technical skills have gone lax and now, suddenly, they are in need of income. This is often a desperate situation. Do NOT let yourself go there. Stay on top of technology and business trends. And hone your writing and communication skills at every possible opportunity. They will serve you well.
Get good tools.
When it comes to buying tools for a business, there are three categories of spenders: (1) those who spend too much, (2) those who spend too little, and (3) those who spend just right. When you start a business, begin with the right tools. For example, purchase a computer that will serve your current needs and then those you anticipate for the next two to three years. Don’t try to run a business on a Commodore 64. (Yes, I’m old enough to remember those! ) Don’t feel like you have to have a hundred different programs to run your business. Get the tried and true, the basic workhorses of word processing, bookkeeping, contact management, scheduling, and image editing (if that is part of what you do). You don’t have to spend thousands of dollars on a website, but you do need to make sure your site is first class. Engage with a competent website development professional.
Get focused.
This is the last point for a reason, because it happens as a matter of progression in a business. As you grow into it, you will start to develop your focus and define your niche. As you do, you will need to offload the things that do not fit your business or the things that are part of your business but not within your strengths. If, for example, you are great at marketing and connecting with people, you should not be spending a majority of your week behind a desk, working on financial spreadsheets. Hire a competent bookkeeper who can do in an hour what takes you four or five hours to do. Then you can spend those four or five hours doing what you do best – growing your business. If you hate doing details, don’t waste your time on them. Hire a virtual assistant. The amount you spend will be more than offset by the business you can generate while your assistant keeps your current business stable. On the other hand, if you are good at the details, do those. And hire some big picture people to do your promotion and marketing. Focus on your strengths and hire someone to cover your weak areas. It can save your business AND your sanity.
There you have it, the six “GET’s” of a successful business. Actually, I like the number seven, so let me add one more “GET”. It’s a quote from the Andy Griffith Show, where Aunt Bea played “The Warden”.
“GET TO IT!”
Your dream of purposeful work that fits you is within your reach. You CAN get there!