Starting Your New Business

Deciding to start your own new business can sometimes feel like a roller-coaster; overwhelming and scary at times, Born to Winbut for the most part, exhilarating. I suggest buckling up, screaming when it’s appropriate, and throwing your hands in the air. It’s an exciting adventure! Here are a few more steps to help make your business start-up a successful experience.

Get Inspired

No matter if you are selling products or services, all businesses have one thing in common: they start from an idea. You may have dreamed of starting your own business for years, or inspiration may have hit you unexpectedly. Regardless of the source, the first step of starting your own business is coming up with a business idea. What will your Brand be? Yourself? I recommend Branding Yourself, with a Tagline that briefly describes your product, service or dedication to your customers.

Mindset for Your Success

Mindset is so important when first getting started in your new business. You may stumble and fail at some things along the way so with the proper mindset and positive thinking you will be able to go back to the drawing table and tweak a few things to experiment what works best. Failure at anything is learning how to do it right the next time. Here is an excellent resource that can help getting in the right mindset. https://gv964.isrefer.com/go/tpms/livesmart56/

Do Your Research

You’ve identified your big idea, now it’s time to balance it with a little reality. The research you conduct in your small business start-up process will help you figure out if your business idea has potential.

In order for a small business to be successful, it must solve a problem, fulfill a need or offer something the market wants. Some of the questions you should answer in your market research include:

  • Is there a need for your anticipated products/services?
  • Who needs it? Identify your target market.
  • Are there other companies offering similar products/services now?
  • What is the competition like?
  • How will your business fit into the market?

Make a Plan

In order to make your business idea a reality, you need a plan. If you intend to seek financial support from an investor or financial institution, a formal written business plan is a must. Even if you don’t plan to seek financial support, a business plan will help give you clarity about what you want to do and how you plan to do it.

Your business plan should outline business goals and the motivation behind them, as well as your plan for reaching your goals in terms of marketing and funding. In your business plan, you should think relatively long-term – what is your intent?

Plan Your Marketing Budget

Starting a small business doesn’t have to require a lot of money, but it will involve some initial investment. Determine how much to budget for training on how to market your business. This should be an annual budget to continue your training in the online and offline strategies. Here are some areas you may need training and links to the best training to ensure your success include:

You can also attempt to get your business off the ground by bootstrapping, using as little capital as necessary to start your business.

Pick and Register Your Business Name

The name of your business plays a big role in almost every aspect of your business, so pick a good one (no pressure!). Make sure you think of all the potential implications as you explore your options. I suggest thinking long and hard about your business name and making sure it makes sense phonetically.

Don’t forget to register your website domain name afterwards!

Consider Where you will Conduct Your Business

Setting up your place of business is important for the operation of your business, whether you will have a home office, a shared or private office space, or a retail location.

You will need to think about your location, equipment, and overall setup, and make sure your business location works for the type of business you will be doing.

Small businesses run most effectively when there are systems in place.

Completing these business start-up activities will help you cover all of the bases and make good decisions so you have success as a small business owner.

And finally…

Buckle up! Starting your own business is an exciting process and you’ve already made the first big step. Congrats!

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6 Strategies to Overcome the Fear of Failure

6 Strategies to Overcome Your Fear of Failure

Fear of FailureHonestly, is fear of failure in anything we do in our lives, the end of the world. I don’t think so. Failure is a learning experience and odds are with most people they will not fail without getting something out of it. That’s not to say failure may not happen again, but it may manifest in another experience, another learning experience. So don’t sweat the Fear of Failure, it makes you better every time you try.

Here are 6 strategies to help you stop your fear of failure sucking the life out of you, and use it to succeed:

1. Accept yourself

When you fight something you give it power, and trying to control your fear will make it stronger. Instead, when you feel it, close your eyes and look inwards. Use a little acceptance and commitment therapy (ACT). Stop judging and start feeling and observing what’s happening in your body.

Detach yourself slightly from what’s going on and just observe what you feel and where you feel it. Is it a cold lump in your stomach? Is it pressure in your head? If you do this for a minute or two you’ll feel a sense of calm acceptance, and the power will deflate. With practice, you’ll begin to think “that’s just my fear of failure”, and be able to move on.

2. Control your thoughts

We all have random, crazy thoughts that pop into our minds from time to time but we dismiss them because they’re really wacky. The problem is that we don’t do the same for more reasonable, but unhelpful thoughts.

The next time you get one of those thoughts defuse it so you can let it go. Pretend you’re dealing with an unhelpful teenager and tell it, “Thanks, mind”, then move on to a more positive thought.

This also helps if you start thinking “I can’t do this”. You can simply thank your mind for the thought and then consciously ask yourself “HOW can I do this?” Changing the statement to a question will put your brain into a problem-solving mode so you’re more likely to come up with solutions.

3. Find your triggers

Do certain situations trigger negative thoughts and feelings? Maybe checking your Facebook feed is discouraging because everyone seems so successful. Maybe being around certain people makes you feel inadequate.

If you notice patterns like this then take steps to stop doing those things, or being around those people. If you can’t stop immediately, take steps to withdraw. For example, if your job gets you down and you can’t leave immediately, put an exit strategy in place. Start an active campaign to leave the workplace and begin something new.

Taking the steps to get out of negative situations will give you a feeling of control, and boost your confidence.

4. Believe in yourself

Feeling overwhelmed by your goals? Convinced you’re not good enough to take on the world? Try focusing on the here and now. Pay attention to little things you can achieve today and ignore the big picture for now.

Long-term plans can overwhelm everyone, the trick is to make sure it doesn’t immobilize you. Focus on the piece of the project that you can achieve now. Believe that you’ll be ready for each step as it arrives.

5. Appreciate yourself

Start an appreciation diary. This is similar to a gratitude diary but different. Each day list three or more things that you’re proud of. This is a place to note all the things you’ve done well – a way of congratulating yourself.

Practice patting yourself on the back, to reinforce the things you’re pleased about and you’ll start to feel stronger and more successful.

“The more you praise and celebrate your life, the more there is in life to celebrate.” – Oprah Winfrey

6. Question the ‘signs’

Don’t wonder if the universe is trying to send you a ‘sign’. Things are what they are – we add meaning that’s often not there. The weird thing is that we don’t do it over the day to day stuff. If your favorite coffee shop is closed for renovations you don’t think it’s a sign that you should give up coffee.

You just go somewhere else for coffee. So apply the same mindset to other setbacks you experience. Don’t think of them as a sign from the universe.

There is a plot twist in your story, not a sign you’re on the wrong path. Ignore them and stick to your dreams.

Use these tools and release your fear of failure and start your path to success today. I know that you can do it. I BELIEVE in you, and so do you. Failure is NOT an option, it is a choice. What do you choose?

How has the fear of failure stopped you? How do you get past your fear? Only you can decide your fate, and the rest of the world moves forward……?

P.S. If you find value in this blog, feel free to like, comment and share. If you have interest in improving your life and helping others, let’s work together to make the world a better place.

Donna Here to Help

Donna M Sands, Always here to Help

SandsOnlineVentures@gmail.com