STARTING YOUR OWN BUSINESS: WHAT YOU NEED TO KNOW

Updated: Dec 31, 2021

What are all the things you need to consider and find clarity on before you start your business, or if you have a business, check to make sure you didn't skip any of these steps.



My decision to start my business was one of the scariest decisions I had ever made. I was a single mom with a mortgage and two teenage daughters to take care of. And what did I know about running a business...nothing! I could have let that lack of knowing overwhelm and stop me, but I didn't. I began to search for someone to teach me what I needed to know. I needed someone that had already created a successful business to show me how. I didn't want someone that had read a book or took a course, I wanted someone who'd been in the trenches, poured their blood, sweat and tears into making their dream come true. That's who I knew I could learn the most from.


I was eager and motivated because time wasn't on my side. After losing my job I had to create an income quickly. I hired the most amazing coach who had already created a very successful coaching business and I wanted to learn everything she had to tell me. I learned things I would have never thought of on my own.


"IF YOU CONFUSE, YOU LOSE"


This quote is so true. If your potential client is confused about what you do and how you can help solve their problem, there will be a disconnect in your business and that will affect the revenue you can earn. You also need to create a model that will be sustainable and earn you money. So many women make this mistake starting their business; they see it as a hobby or are afraid to charge what they are worth and end up losing money, not making money. I want you to make money and be successfully compensated for your time and expertise, that's why I'm sharing this valuable information with you.


Important questions to ask yourself about your business:


WHY do I want to start this business?

Your WHY is crucial to know. It will be what drives and motivates you. Simon Sinek's Ted Talk "Start with Your Why" got huge recognition with over 8 million views and emphasized the important of leading with your WHY. Check out his amazing Ted Talk here.


WHO is your ideal client?

So often, people want to help EVERYONE when they start their business. This is a very common mistake as it leads to confusing and generic messaging and marketing. Think of it this way, the more specific description of your ideal client, the more they will be able to recognize themselves. Just like if you reported someone missing, and all you say is they are female, it will make it much more difficult to find them. The more detailed description you can provide, the easier they are to identify.


WHAT problem do I solve for them?

People have problems they need solved and they need to know you can solve it for them. They have an outcome they desire and they are less concerned with the details of HOW you will solve their problem and more with how this will benefit them. Let's say your furnace stops working, you are less concerened with the technical things they will need to do, you want to know that they can fix it because your number one concern is having heat in your house.


This is just the tip of the iceberg of things you need clarity on when starting or building your business. You also need to consider what you will offer, what pricing will allow you to be profitable, and how to confidently offer this to your ideal customer.


You are likely setting up your business for the long haul, something that you are building your future on. For me, I knew this was something I wanted to do for the rest of my life, so I knew I had to create a solid foundation that would set me up for success in the long run. I needed someone to take me step by step through the process so that I could create a business that was professional and a reflection of who I was and what I wanted to offer to the world.


If you feel overwhelmed on where to start or how to find the clarity to these questions, you're not alone, I remember all to well. It's challenging to tackle this on your own and without the guidance of my business coach, I would have never gotten here myself. My success is directly related to the mentorship and support I have had along my journey. It can feel like a lonely process becoming an entrepreneur, and having support is key to your success. I would love to be the one that support your journey to bring your business to the world.


It's time to create the successful business you've been dreaming of, or take your business to the next level. Maybe it's been your side-hustle and now's it's time to make this your full-time income. What ever path you're on, I'd love to chat how I can support you further. Reach out to me at souljourneyinfo@gmail.com.


With so much love,



Michelle


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