Posted by Victoria Trabosh on Tue, Jun 30, 2009 @ 09:57 AM
This final blog in a 3 part series is
about strategy. Every day you should
think about the overall strategy for building your business. It’s not magic and it’s no secret: hard work, focused effort, discipline, and a
burning desire to create something you can see clearly, those are the beginning
stages of your strategy. The first
article was about PEOPLE, the second about PROFITABILITY and now STRATEGY.
Give the following some thought:
Q: When is the time to transition? A: When
you’re willing to live with the consequences of your decision. If you are
considering transitioning while working at your current job, remember, part-time
is tough! How much can you work if you are also working for someone else? And if
you’re working after hours, will you be able to serve your clients when it’s a
convenient time for you AND them? If you have a
product, will you be available to speak with your customers and ship items in a
timely manner?
Being an effective and
successful entrepreneur requires you to be completely present and listening and
responding on multiple levels. If you
stretch yourself too thin, you may not succeed. Strategy is about having a plan
that you’re prepared to implement and then live with the outcomes.
To summarize, leap when you’re
ready to leap with joy and abandon. Business is a risk – but success comes from
risk that is calculated and well planned.
Be prepared for success by knowing what it will take for you to be
successful.
ACTION
ITEM:
What will I do today to develop my strategy for succeeding in my existing business
or building a new one? What people will
I connect with to advance my goals? Do I need a coach to play my best
business game?
Posted by Victoria Trabosh on Mon, Jun 29, 2009 @ 11:34 PM
This second blog in a 3 part series is
about being profitable. The business
of your business. As an entrepreneur,
you’re full of great ideas, know how to implement them but can lose sight of
the day to day need to stay profitable.
The first article was about PEOPLE.
Now we move on to PROFITABILITY.
Give the following some thought:
Leaving a paycheck is never easy. Yet
the thought of owning your own business can be very tempting. It’s important to
know what your business model looks like and how long it will take you to be
profitable. Do you have financial
reserves as you build your business? Can you afford to be a professional
business person (website, business cards, marketing and advertising, office
space, etc.)? You will attract business as you become a business.
Don’t underestimate
the importance of the desire and need to be profitable. This is not magic, but
a well planned strategy to turn your passion into a career. And do not give
away your product or services. Good intentions do not pay the bills! If you
haven’t read Think and Grow Rich
by Napoleon Hill, do so.
Good work that is
honored through revenue, pays the bills. So begin with the desire to make a
life through the work you do, and be paid to do it. Great businesses fail less.
And if the stress of making money is so great that you can’t survive slower times
and a tough economy, proceed with caution.
Profitability is about running a business that
sustains itself and brings a profit to you.
ACTION ITEM: What will I do
today to become more profitable, personally and professionally? What do I believe about being profitable and
what model am I working from or creating?
What people will I connect with to advance my goals? Do I need a
coach to play my best business game?
Posted by Victoria Trabosh on Fri, Jun 26, 2009 @ 06:36 AM
At the end of June
2003, I chose to leave a very secure job in banking to start over as an
executive coach. I’d been in business for myself prior to joining the
bank but it had been almost five years back in corporate. I had the
privilege of working with the best of the best – a team who cared deeply for
their clients and believed in the direction we were heading.
But it wasn’t enough
for me and I knew it was time to become a full time executive coach. I
leapt from the security of a regular paycheck – days dictated by a strict
culture with high stress and expectations, back to the unknown and a new
business.
As I told my team,
it’s not that I wanted to go; it’s that I couldn’t stay. I had to try
this. The opportunity to work with individuals who wanted more success,
more ease, more greatness and control in their own lives. And my clients
find it whether they are in corporate or working on their own.
This first blog is
about one of 3 things I know each of us must focus on every day, especially in
the role of an entrepreneur.
The first is
PEOPLE. And PEOPLE includes you. Give the following some thought:
Are you the kind of person who enjoys playing the role of
entrepreneur? Do you love the thrill of victory and can you handle the agony of
defeat. And in both cases, will you try again?
Many businesses exist, but yours must reflect you to
be truly successful. Can you connect with your defined ideal client and tell
the story of your business in a way that is powerful for both you and the
listener?
Who is on your team of experts to help you in your role as
an entrepreneur? Who is your coach? People is about you, those you
serve, and those who make you successful.
ACTION ITEM:
What will I do today to become more successful – what people will I connect
with to advance my goals? Do I need a coach to play my best business
game?