There are so many lessons to be learned about starting, launching and growing a new business. Yes the verdict is out – only about two thirds of new small businesses will survive after two years, and less than half within five, according to the Small Business Administration. The good news is this statistic is better than is used to be…the bad is there are still a considerable number that aren’t making it.
Sometimes, as women, our lack of confidence in our abilities, or lack of business know how can get in the way of being successful.
However, know that you are enough, and more than capable of meeting the needs of your business – from start up, to launch, and beyond.
Here are 6 must-dos to thrive, from start up to launch and beyond:
Make the decision
The word decision comes from the Latin word decidere, which means “to kill off any other alternatives.” Making the full commitment toward your business, and never giving up, is the glue that makes it all stick, and keeps you on track, even in the face of challenges and stumbling blocks.
Learn in action
There is always something new to learn, and more information to gather. However, it’s not until you move to action, get going, and learn while doing, that real business know how and expertise comes about.
Take risks and be open to setbacks
This will help you grow as a new business owner. The ability to fall down, brush yourself off, and try it again, is what will set you a part from those who never really decided to succeed. Every successful entrepreneur has the ability to persist in spite of trials or setbacks. From there new lessons are learned and new opportunities are sought.
Build your business as a business right from the start
As a businesswoman, you must find that balance between perfecting your skill as coach, consultant or other service provider, and learning business building skills. Avoid at all cost a business model that trades hours for dollars. Instead, create a business to generate revenue in your sleep and operate on its own without you.
Write your vision
At some point you will need to write a plan that outlines the vision and mission of your business. This important view of the future is necessary for future growth and sustainability. Without it, there is no goal or destination to reach, which means you will cease to move your business forward.
Chart your course
New business ownership is about embarking on uncharted territory. This means you will need a compass, or guide to get you to your final destination of success. This roadmap is essential to business building because it lays the foundation for how you will get from where you are to where you want to be more quickly and easily. In so doing, a framework for how you will make money will also be clarified. Every successful business needs this.
About Author: Zenobia Garrison is CEO of Success Transitions, LLC. She is a business success coach, helping new women coaching & service entrepreneurs launch while they work, and grow their business. Click here to learn more about keys to business success and free e-course.