I’m sure you’ll agree, trying to start a successful business that matches your purpose and makes a difference, isn’t always as simple as people sometimes make it seem. When you are a new entrepreneur, everyone else makes it look so easy but it’s just not.
What Being a New Entrepreneur is REALLY Like
Here’s the thing. Entrepreneurship is HARD, right? And it’s so easy to get distracted by the pretty photos on Facebook where it looks like entrepreneurs fly to Paris last minute, drink champagne in Italy and live a luxurious laptop lifestyle from the beach. They make it look so easy so why is it so hard for us!
I am often hustling in my bedroom in a messy house with my daughter running around and dishes piled in the sink. So, I decided to create a movement around the REAL experiences of starting a business. The truth is, entrepreneurship comes with a lot of challenges.
You probably have heard that if you go the entrepreneur route you will you never find benefits or live without the security of a paycheck and how the heck will you have enough money to support your family.
I get it. My husband and I quit our jobs within three months of each other and we had a 6-month-old daughter. We had to make the leap and figure all this stuff out too. Then, of course, the fears of what will people think! Some family members were not in support of both of us quitting our jobs.
They said, “How can you do this? What if the internet breaks!”
One of my regrets is that I didn’t have a solid business plan that I could show my family before I quit. I mean it was in my head and I knew I was going to succeed, but a business plan to show my family would have been so helpful which is what I’ll teach you in this new free video series starting on December 29th. It’s called The Freedom Workshop. Sign-up here.
So what are your first steps to creating your plan. Don’t worry, I’ve got you covered. In the first video, I’m going to share a system to help you figure out if your business idea will be profitable. This “Build a Profitable Business” Assessment I developed after years of trial and error, throughout business school and while launching hundreds of products and services myself as well as over the last seven years using it with my clients.
[RELATED: 5 Steps to Create a Business Plan]
This system will serve as a tremendous resource for you to eliminate your fear of failure and wasted time so that you can sell the RIGHT products and services successfully. Because let’s face it, us entrepreneurs have a ton of ideas and we always have bright shiny object syndrome, right?
5 New Entrepreneur Roadblocks You Need To Know
1. Common New Entrepreneur Roadblock: How Will I Stand Out?
How do I stand out from the competition? I am afraid to create a service that markets are already flooded with.
If the market has people like you in it already, that’s a good thing. It means you are onto a profitable business idea.
You have your own strengths and experiences that make you completely different than anyone else out there.
2. Common New Entrepreneur Roadblock: I am afraid I won’t be able to monetize.
I am afraid I won’t be able to monetize what I am doing for a business. I am afraid that I will put my family into financial uncertainty and not be able to pay my bills.
Monetizing is all about testing. It requires pivoting. It requires failing. It involves tweaking.
Sell it. Does anyone want it? Why not? Ask the market what they want instead.
Solve a problem that people will pay you to solve.
3. Common New Entrepreneur Roadblock: I am scared of what others will think.
I am scared of what other people will think of me. I am on the fence about putting myself out there.
Think instead of how your story and service could impact one person. Get out of your own head and stay 100% focused on our mission and purpose.
Not everyone is your ideal client. Just stay focused on why you do what you do.
4. Common New Entrepreneur Roadblock: Technology
I have no idea how to build a website…
There are so many tutorials and trainings online these days. You don’t need thousands to get up and running and most of the time, you can learn how to do it yourself, affordably if not for free.
Check out the tools section of the blueprint that we will be sharing in our Freedom Workshop and contact the companies that you can start delegating what you don’t know how to do. Start thinking like a manager, not a doer if you can’t figure it out on your own. Ask for help.
5. Common New Entrepreneur Roadblock: Personal finances.
I am scared that I won’t be able to contribute enough to the family budget.
First, work on getting to zero debt (or as little debt as possible). This takes commitment but it’s important to start planning to eliminate debt before you quit your job.
Start living on less now. Lower your expenses. Try to live on half of your paycheck.
Invest as much as you can into your business.
Build a 3-6 months savings plan (or more) for when you quit your job.
Moments matter more than things. Stay focused on your vision and your future as a successful business owner.