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Volume 1, Issue 20
Volume 1, Issue 20
October 16, 2007
By Susan L. Reid, DMA
Small Business Start Up Coach, Consultant & Accidental Pren-herô
An online newsletter about how to start up and successfully launch small businesses for entrepreneurial women who are ready to transform their lives and make a difference in the world, turn their passion into a profit, and bring in a six figure income.
In This Issue
Today’s Topic: Perceived Detriments to Business Success
This e-Zine is intended to be read in 10 minutes or less.
- Special Announcement: 20% pre-publication discount on Discovering Your Inner Samurai
- Business Quote from Norman Vincent Peale
- Five Nagging Questions Facing Small Business Owners
- Accidental Pren-her Blog Highlights
- Q & A: “Is it really all that important to have a website?” & “I have a potentially great business in sales, but it is taking too long. I feel that I'm running out of time and money and compromising my marriage. Help!”
To ensure we continue to capture the issues most important to you regarding your successful small business start-up and launch, please feel free to contact me directly at: Susan@LaunchYou.com
To subscribe to this e-Zine click here.
To read our blog go to: http://susanreid.typepad.com
Note From Susan
Greetings, Fellow Entrepreneurs!
This week’s e-Zine issue is about perceived detriments to your business success.
First up is a quote from Norman Vincent Peale to set our success framework.
Next is an article modified from my book that was inspired by a question asked by one of our newest subscribers. Five Nagging Questions Facing Small Business Owners examines the top five questions I am asked by my clients as they start up their businesses.
To round out this week’s e-Zine are two great questions sent in by our readers. One wants to know about the relevancy of having a website, and the other is an appeal for help in dealing with a great product, not enough money, a nervous spouse, and guilt.
In between all this, you will find some interesting blog topics to link to, as well as a special 20% off pre-sale book discount announcement that you will want to take advantage of this month.
Finally, the first Monday of each month I interview Accidental Pren-hers for my podcast, Stories of the Unexpected. Stop by my blog and listen to this month’s Accidental Pren-her, Jeanne Adams.
November’s Accidental Pren-her Show will feature Marlene Trevisan from www.LaunchYourLife.com
Special Book Announcement
Discovering Your Inner Samurai
The Entrepreneurial Woman’s Journey to Business Success
****IS COMING OUT THIS MONTH!!!****
Get your pre-publication discount while you can! Go to: www.Alkamae.com now!
After this month, this special discount price will go away, and you won’t be able to get it cheaper than this on Amazon.com!
In Discovering Your Inner Samurai: The Entrepreneurial Woman’s Journey to Business Success, you will learn the top three things you need to know in order to go from struggling entrepreneur to making $50,000 a year, plus:
- Find out what happens on The Heroine’s Journey that can distract you from your success.
- Learn how to tune in and listen to your Inner Samurai’s “yes” and “no” pulse.
- Build savvy business acumen from the inside out.
Jim Horan, author of the best-selling book series, The One Page Business Plan, comments, “There are thousands of books about the strategies and mechanics of business, this book is about you, the entrepreneur/business owner . . . and helping you understand you! The secret to your success is knowing who you are, and what you do with you!”
Today’s entrepreneurial woman wants control over who she works for, what she does, how she spends her time, and how much money she makes. Most important: She wants to know that what she is doing is making a difference in the world. Discovering Your Inner Samurai: The Entrepreneurial Woman’s Journey to Business Success shows women how.
This is it, folks. Get your pre-publication 20% discount now at www.Alkamae.com. After this month, bye-bye!
Click here to read what folks are saying about the book: http://www.alkamae.com/page.php?id=DiscoveringYourInnerSamurai_Reviews
If you are interested in reading a little sample from the intro of my book, click here: http://susanreid.typepad.com/alkamae/2007/08/mi-viaje-es-tu-.html
Business Quote Of The Week
People become really quite remarkable when they start thinking that they can do things. When they believe in themselves, they have the first secret of success.
— Norman Vincent Peale
For more business start up quotes go to: http://www.alkamae.com/articles.php?cat=50
Five Nagging Questions Facing Small Business Owners
Starting a business from scratch is intensely creative, exciting, and adventurous.
In my work as a small business start-up coach and consultant, I’ve noticed that all of my clients tend to struggle with similar issues.
Here are the five nagging questions they most often deal with:
Is my idea good enough?
How do I obtain the money to start up?
Can I run a successful business and still have a life?
Do I have the necessary education and experience to do this?
What if I fail?
Is My Idea Good Enough?
By the time you have reached the place where you are thinking of starting up a business, you have likely accumulated a lot of life experience. You have acquired general information and developed expertise in one or more areas that is unique and specific to you. While you may share similar strengths and traits with others, in the final analysis, there is only one you. You have a viewpoint that is distinctly yours. The world wants to see what you have to offer and hear what you have to say!
It’s impossible to know completely at the start of the journey whether your initial idea is good enough. You simply must go down the road, allow your idea to be tested, and see what comes out at the end. It’s the only way to discover your niche and to know what your unique positioning in the world will be.
How Do I Obtain the Money to Start Up?
Most people believe the only way to fund a start-up is through angel investors or venture capitalists. That was never true in the past, and it isn’t true today. Yes, some opportunities require too much capital for self-funding, but certainly not all.
When considering the difference between funding your start-up yourself or funding it with other people’s money, consider this: An outsider who makes a large investment in your business will usually want a say in how their money is going to be used. The same is true for family and friends who invest in your business.
This is why I encourage my clients to get creative and find a way to fund their start-ups themselves. That way, they are in complete control of their success, are inspired to become profitable sooner, and won’t be spending a lot of time answering to other people’s expectations.
Can I Run a Successful Business and Still Have a Life?
You bet! The key is to realize that being a small business owner is only one piece of your total life pie. It’s not the whole pie.
Just as your business is one piece of the pie, your family is another. Your friends, another. Other pieces include your physical and emotional well-being, your wealth and financial health, and your service to your community. You don’t need to juggle anything. It can all flow beautifully together, one piece dovetailing nicely into another. This is called “having a life.”
Many people think they have to give up having a life to start a business. Sure, starting up a business takes time. It requires focus, dedication, and energy, but not at the expense of everything else you value and enjoy.
Do I Have the Necessary Education and Experience To Do This?
As part of the start-up journey, one of the first things I address with my clients is the belief that they might not have the education or experience to start up a business. Most of the time my clients come in with a great deal of experience and education, but they don’t realize it’s applicable to their business idea. By focusing on what they have done in the past, we can quickly make a short list of what skills they might need to develop. They can work on acquiring these skills while they are starting up.
Just because you don’t have a business degree doesn’t mean you won’t be successful at running a business. Accounting can be outsourced. Teleseminars can be taken. Books can be read. Questions can be asked. Experience can be gained. You don’t have to do it all! Whatever you don’t have right now, you can learn.
What If I Fail?
What if you don’t? What if you don’t fail? What then? It is better to have tried and lost than never to have tried at all — to embellish upon an oft-repeated phrase by Alfred Lord Tennyson.
Letting the thought of failure come into your mind whenever you are embarking upon a new journey seems only natural. After all, none of us knows if we will fail or succeed at something new. We can, however, set the tone for success. And setting the tone makes all the difference.
Let yourself consider failure for as short a period as possible. Then move on.
Get on with the Adventure
Don’t let those nagging questions stop you from starting up your business. Instead, address each question straightforwardly and with an open mind. Once you answer them, you can . . .
. . . start enjoying the creative, exciting adventure that starting up a business was meant to be.
Accidental Pren-her Blog Highlights
You can find our new blog, at: http://susanreid.typepad.com
In the Accidental Pren-her blog, I write about the process of turning entrepreneurial women into successful small business owners. It’s a great place to come and build community while embracing your inner Samurai.
Each week, I will post four different segments with the entrepreneurial woman in mind. They are:
- Monday--interviews and stories about Accidental Pren-hers
- Tuesday--alchemic wisdom from the inner Samurai
- Wednesday--reflections on the pren-her life
- Thursday--a book review from the inner Samurai bookshelf and pren-her reading room
Here's a sample of the posts I've added to the blog in the last couple of weeks. Just click the link.
Interview with Accidental Pren-her - Listen to this month's broadcast of Stories of the Unexpected. Our featured guest is Jeanne Adams. Jeanne is a newly published author with Kensington Publishing in New York (they just purchased two of her suspense novels), and CEO of Golden Gryphon Designs. Take a listen to her interesting Accidental Pren-her story.
Asking Your Inner Samurai Questions - Have you ever wondered about what kind of questions to ask your Inner Samurai? How your Inner Samurai will respond? If so, this is the perfect blog post for you!
The Power of Choice - Whether you are on the side of global warming or not, what interests me about this video is how logically the question of global warming is approached. We had a number of thought-provoking comments on this post, so be sure to read those too!
Great Ways to Improve Your Business Blog - If you are an Internet small business owner and don’t have a blog, think again. Blogs are one of the best ways to drive traffic to your website, generate business, and build community.
What is an Accidental Pren-her? - Ever wondered? This post will define exactly what an Accidental Pren-her is.
You can find our blog at: http://susanreid.typepad.com
Weigh in. Make a comment. Let us know what you think!
Ask The Accidental Pren-her
Q: Is it really all that important to have a website?”
A: In a word, yes!
In today's Internet-influenced economy, your business website represents:
- Your "face" to your customers and prospects. Your website is the place where first impressions about your business are established.
- The area where information can be gained about who you are and what you have to offer. Potential customers and clients buy you before they buy your products and services.
- The one central location where orders can be placed easily and efficiently.
- The main portal toward which search engines can easily steer people who want to buy your products and services.
- The first place potential customers and clients look to see if you and what you have to offer are a worthwhile investment.
Tip: Savvy business owners realize the critical role their websites play in the new Internet-influenced dynamics and use them to the best of their marketing ability.
Q: I have a potentially great business in sales, but it is taking too long. I feel that I'm running out of time and money and compromising my marriage. My wife is very nervous and adds a great deal of pressure. The risk is minimal as far as the product working. The main work is to get the product to the consumer and make sales happen. I know that people like the product. Sales are starting, but I'm afraid that I'll run out of time. I'm also sure that I do not want to go back to work for anyone else and prefer to run my own business. I don’t have enough resources to keep going, feel guilty for not providing for my family, am distracted and discouraged by events outside my control, and am facing a possible failing marriage. Help!
A: Sounds to me like you have a few important things going on:
- A strong desire and passion to be a small business owner
- A viable product that will eventually be sustaining and profitable
- A strong pool of potential customers
- A shortfall of income
- A stressed marriage
- A strong desire to be able to support your family
As you know, starting up a business takes time and money. The fact that you have a product that many people want is a real plus! Therefore, it seems to me that it's not a matter of if your business will be able to sustain and support your family; it's a matter of when.
Assuming that you don't want to lose your wife or continue depleting your cash reserves while waiting for your business to take off, it seems logical to me that you should sit down with your wife and talk about possibilities.
You will want to focus on ways to generate income while waiting for sales to take off. Be creative when discussing ways to generate more income. Some of my clients take out home equity loans, while others borrow from family. Some rent out rooms in their homes while cutting the household operating budget to the bare bones. Some consider working a 'no-brainer' part-time job so they can focus the bulk of their mental energy on starting up the business.
Tip: The key is to be creative and focus on doing things that will put you back in the driver's seat and in control of who you are and what you want. Worry, doubt, and guilt are of no use to you. Focusing on what you can positively and powerfully do, in the now, to relieve the situation while moving forward with your start-up, will be of greatest benefit to you.
Disclaimer: I am neither an attorney nor an accountant and am not qualified to give you financial or legal advice. If you are starting up a business, it is important for you to contact qualified law and tax experts and seek their advice.
Do you have a burning “how to” question about starting up or launching your small business? E-mail me at Susan@LaunchYou.com, and I’ll answer it either in upcoming LAUNCH YOU! e-Zines or in my blog at: http://susanreid.typepad.com
That’s all for this issue, folks.
Until next time, happy launching!
Susan L. Reid, DMA
Small Business Start Up Coach, Consultant & Accidental Pren-her
At Alkamae we specialize in taking the fear out of starting-up and launching successful small businesses . . . so you can get on with the business of transforming lives and making a difference in the world.
p.s. Below are the “Hot Links” to our most frequented and requested sites:
Small Business Start Up Coaching for those who are ready to partner with a small business coach and position your new business for success: http://www.alkamae.com/product.php?id=9
Link to our new booklet: 62 Ways to Boost Your Business Success. It’s especially valuable for entrepreneurial woman wanting to grow and expand their business. This booklet offers immediately usable, bite-size networking insights from professionals in various fields throughout the United States. These surefire tools and techniques really work for them. Find out how they can work for you, too, no matter where you are in the world or in your business development. Just click here to find out more: http://www.alkamae.com/product.php?id=86
Recommended reading for successful small business start ups: http://www.alkamae.com/resource-links.php?id=16
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