Solopreneurs need to plan for their growth just as any business makes projections for the new year. “Solos” face different challenges since they are not in an environment with a staff, communication with management, and structure to the process. For this reason, creating habits that will help the business be sustainable and grow are paramount to the success of their business.
In this podcast, we discuss discuss methods to leverage your talents to power up your business such as
- How to assess your current business situation (What worked? What can be left behind?)
- Professional development strategies for solopreneurs
- How mastermind groups, mentors, and coaches can work for you.
- How are your habits working for you? Are time management strategies in your mix?
- How will you keep fresh, grounded, and ready to make your best strategic planning decisions for the new year?
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This August, I am starting my fifth year in business. Statistics show that 8 out of 10 new businesses fail within the first three years. According to the Small Business Administration (SBA), only 51 percent of new businesses survive at least five years. Pretty daunting numbers, and add to that the worst recession since the Great Depression.
I can write a book on the lessons learned and the roller coaster ride it has been. I am amazed every day that I have accomplished so much and have survived when so many do not. I am especially proud of the work I have done for many clients who have hired me and trusted my expertise to help them. Not only is my business in the 51 percent, I am especially proud of two personal achievements in the last six months:
I often say that starting a business is like jumping off a cliff. For me, it was a well thought-out, strategic decision, yet nothing ever truly prepares you for what it will be like until you’ve made the jump. And trust me, the great recession did make it harder.
If you are thinking about starting a business because you have lost your job or are done with corporate bureaucracy, you can do it if you are prepared to make the jump. If you already know your expertise and the type of product/service you want to offer, I can share some key points that were critical to joining the 51 percent. (If you don’t know the type of business you want to start, you’ll need to figure that out first.) Read More
Many gifted solopreneurs can feel lonely or isolated, and most dangerously, demotivated by less inspired friends and family.
This broadcast covers some of the methods that can help the solopreneur generate and sustain the self-inspiration and motivation that is the required ingredient for business success. What are you doing to keep your spirit flying? To generate new ideas? To work hard, (when others are playing)?
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Goal setting is a way of life for me. I am a firm believer in not only planning ahead, but also in writing it down so it is real and actionable. I recently had a conversation with a colleague about setting goals for the New Year, and he responded, “I don’t write down goals, they are in my head.” Does this sound like you? I can’t tell you how many people I talk to that have this approach – keep it in my head and it will happen. Setting and writing goals needs to become a habit; but most people never form this habit and limit their success. Change takes a willingness to embrace the unknown in exchange for attaining a higher level of success. So change your habits and write down those goals.
For 2012, I am not only writing this year’s goals, I am also thinking about my BHAGs – Big Hairy Audacious Goals! These are the long term goals that I strive for – and usually write them down every few years.
I first starting writing BHAGs in the early 1990s. But what is more telling is how they’ve shaped my life and career and what’s happened because of them. My story of how I started my business is because of a BHAG. And there are other BHAGs in my past as well that have come to reality. Read More