5 Things Every Entrepreneur MUST Do
Posted by Vicki Donlan on Mon, Jan 25, 2010 @ 02:15 PM
You've finally done it! You've launched your own business. You can now call yourself an entrepreneur. Now that you have the title and the business, do you know how to be successful? I share with my clients the top 5 things every entrepreneur MUST do to not only be survive but thrive.
1) Develop a team of experts. Interview and find the following professionals to work with as you build and grow your business: business lawyer, accountant, tech consultant, banker and business coach. Each of these experts will bring you service and support that you cannot expect to know yourself. So, even if you begin your business as a sole practitioner, do not assume you can do without this important team. As you grow you'll need to expand this group with an investment advisor/financial planner, recruiter/HR professional and more.
2) Keep a daily journal. Starting a business is like any journey - it has a beginning, a middle and an end. It also has bumps a long the way. The best way to keep track of the road is to write about the progress each day. Keep it simple and just write down the facts. Over time you will look back at it and be amazed at how you managed to get over the challenges. It will remind you that you have been down and gotten up. It will remind you that you can never be so secure to believe that you won't be down again. In other words, it will keep you humble.
3) Toot your own horn. Visibility in business is everything! You and your business must be out there and everywhere all the time. You are the best salesperson your business will ever have and if you don't promote it who will. Obviously, if you are a sole proprietor this is even more important, but either way - you must be singing the praises of your product and/or services every minute of every day (24/7). This is where social media comes in to play. Start a blog and make a commitment to blog at least once a week. Create a LinkedIn account and make sure you use it for your business. Search the web for articles on your business and comment as often as possible so you will be seen as an expert in your field. And, don't discount your local newspaper, particularly if you have a small local business. Become an expert for the local journal. Offer to write an article or do a Q & A on the industry. Newspapers love columns and this is your way of getting exposure to your local business market. Don't ever forget - if you don't toot your own horn no one will toot it for you.
4) Network-Network-Network. People do business will people they know, like and trust so make sure people get to know you. Join your local business group as well as trade organization. Go to meetings and make sure to volunteer for a committee. Get involved - not just to make contacts for new business, but to meet other entrepreneurs. The bond between entrepreneurs can be very special and when the going gets tough it is important to have people who understand to reach out to. The number one issue consistently sited by women entrepreneurs is isolation. So, be prepared and network to give and get business as well as to make new friends.
5) Be true to yourself and your values. Business is not easy. You will have difficult decisions to make. You may at times be asked to compromise your principles. Your actions do speak louder than words and they won't be forgotten. Ask yourself how important your credibility and reputation are to you. No matter what happens to you or your business, people will remember how they were treated. Make sure you look in the mirror every day and are proud of what you have built and accomplished.
Entrepreneurship is not for everyone, but for those who dive in the pool make sure you don't drown.