When I decided 4 years ago to start a motivational coaching and speaking business, it was uncharted waters and I spent a lot of time and money trying things on to see if they fit properly. Of course, if I knew then what I know now, I would have spent less time and less money getting the same results.
My coach, Stephanie Frank says I love to chase ‘bright shiny objects’!
I have a ton of programs on my shelves that I call ’shelf-help.’ They offered me instant answers to my problems on how to market my business, how to sell my business, how to create greater productivity, how to speak better, how to be a better copywriter, how to do teleseminars, how to build a profitable website, how to get the right kind of publicity, how to manage your social media. You get the picture.
I spent thousands of dollars on programs that I didn’t have the time to implement, or didn’t listen to, or didn’t find they were what I needed at that time. I chased the next best thing only to find out it wasn’t what I really wanted.
I like to run after the ‘bright shiny things’. I go looking for the magic bullet, the quick fix, the show me how to do it and I’ll get instant success. I call it ‘The Magpie Syndrome’.
Everything that glistens may be interesting, but it’s not gold, and it’s a mistake that many young entrepreneurs make.
So here’s my top 10 list of things to do when starting your own business for the first time.
- Create a step-by-step strategy. SERIOUSLY simple steps (ex. step 1: buy domain name step 2: buy hosting package etc.)
- Set a budget and stick to it. Until you start making money…And then still stick to a budget.
- Don’t believe everything that’s shiny. Just because they are the expert in their field doesn’t mean it’s right for you.
- Be prepared to use the materials and follow the instructions before deciding it doesn’t work.
- Ask yourself if you really need this now. (You may in the future, but that’s another thing).
- Just because you can buy it doesn’t mean you must have it.
- Titles on the bookshelves won’t bring you results unless you read them.
- There is only one of you and you don’t have to do it all at once.
- Be consistent in your approach and don’t chase bright shiny things unless they really will work for you.
- Get a coach! It’s about accountability. If no one holds you to your goals, will they materialize?
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"The Fearless Factor shows us a blazing light at the end of all those worries. I found myself nurtured by every chapter...It’s a really good read."
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Having served entrepreneurs for 25 years, the first key step is a realistic expectation of what it’s like to start and run your own business.
I wrote an eBook you can download for free at http://www.nosmokeandmirrors.com that helps establish a real expectation.
Mark Allen Roberts
http://www.outbsolutions.com
This is a very good article, thank you. One of the most important points you make is number 3: “Don’t believe everything that’s shiny. Just because they are the expert in their field doesn’t mean it’s right for you.”
I am inundated every day with e-mails from experts about SEO, advertising, how to get number 1 ranking in Google, etc. I have learned that most of the claims are false, and my own common sense and intuition is a far better guide than the great secrets these folks are offering.
One exmple is the myth that you must have thousands of visitors to your web site no matter how you get them. This is a chronic half-truth. YES, you need thousands of visitors, but HOW you get them is MORE important. 1,000 window shoppers are useless, 1,000 people looking for a freebie are useless. 1,000 paying serious customers are golden.
So you have to know who your customer is and what your customer wants and address that.
The “newest and greatest” thing usually doesn’t focus on that at all.
Thanks for your article!
Many thanks for the comments Mark. Trial and error gets you a long way, but why waste the time and the money!
Hi Tim,
Loved your comments. I’m all for the gold! The hardest part of running your own business is how do you separate the wheat from the chafe? The answer is ‘you can’t’. Figuring out what they need is the greatest challenge of them all when they subscribe to your list and leave no trail. In this case, who doesn’t have fear…..but how many are willing to deal with it? I’ve learned that you put it out there and see what comes back. Come back and see us again!