Launching a new business is terrifying. I should know I did it twice. My first business was a non-profit organization - a community center established to be a safe haven for school aged children. Although my partners and I had great intentions we lacked a clear vision and . unfortunately the non-profit had to be dissolved. One would consider this an epic failure, however I consider this to be a very monumental lessons on my journey to success. It’s because of this experience (closing the business and going into major debt) I learned what not to do when I launched my second business.
So that you can avoid some of the pitfalls I faced, I share with you a few valuable tips. Here are five tips to help you successfully launch your purpose-driven business.
1. Hire a Coach
Would you rather spin your wheels trying to figure things out or spend your time executing your “master plan”? If it’s the latter then I strongly encourage you to hire a (business) coach. You may be saying to yourself “I can’t afford a coach”. And yes, it is an investment, but one that has a high rate of return. Think about it…time is money! Therefore every minute spent trying to figure things out is money not being earned in your business. I don’t know about you, but my time is valuable and I need every coin I can get. When I was faced with this dilemma I decided to hire a coach to help me gain clarity around my brand, establish my product offerings and increase my profit potential. So if this is something you and/or your business needs to succeed then… HIRE A COACH.
2. Gain Brand Clarity
I’m not talking about your logo or colors. No, it goes beyond this. You’re a walking billboard and a visual representation of your brand. However you can’t effectively do this if you’re not clear about your brand (your image, values, vision etc.). Your brand is what people think and feel about you when you’re not in the room. And thus the perception of your potential clients can be positively, and more importantly, negatively based on your brand. Your brand also helps you and others understand your target audience and the problem(s) you’re solving. So, be clear on your brand.
3. Establish Goals
I worked in Corporate America for 20+ years before I started my business. I had no clue where to begin, which was frustrating for me. Throughout my career I always had a clear path to my next promotion. I knew exactly what steps to take to get to the next level. But this wasn’t the case when I embarked on my entrepreneurial journey. Instead of drowning in frustrating I used the tools that helped me through my academic and professional career. I established SMART goals, both short and long term goals. And from these goals I created a detailed action plan (see below) to keep me on track.
4. Create an Action Plan
Once I established my goals I created a detailed action plan. My action plan included a list of tasks, a timeline (this should be realistic based on your life), potential obstacles (after all you should always be realistic), and resources need to accomplish each goal (including people, materials as well as money). I created an action plan for each one of my goals. And with each goal I enlisted accountability partners. Your action plan will help you map out the steps you must take to accomplish your goals. With this and your accountability partners you will be on track to achieve success. .
5. Be Accountable (self-accountability)
Excuses have a way of tricking us into believing we are justified in our inaction to move forward. “I don’t have enough time, enough money, education etc.” These are some of the things we tell ourselves to make us feel comfortable with not accomplishing our goals. And instead of telling ourselves “I will wake up early or go to be a little later to make the time I need, I will utilize low cost/free resources until I can earn enough money to do what I need to, my talents will make a way for me and I don’t need more education to fulfill my purpose”. No longer should we allow these (or any other excuses) stop us from achieving our goals. #noMoreExcuses
Now, are you ready to launch your purpose driven business?