As we prepare to wrap-up this year, I cannot help but to reflect upon the lessons 2022 has taught me about building a new business. It is the hardest, yet the most powerful thing I have ever done! Being driven by the mission to help Women renew their leadership mindset with fresh fire and purpose has caused me to know why I was brought into the world. And while I may not know all of the twists and turns ahead, I know what I am made to do!
There is much work and more to learn in 2023, but if I may, I would like to share a few things for new entrepreneurs to consider as you continue on your journey…
Lesson Number One…as we move forward to assemble our customer base, we must continue to develop our personal value and the value proposition of our goods, services and marketing strategies. Our local Small Business resources are designed to help us with these measures, business growth, maturity and long-term maintenance. Whether it is the Small Business Administration here in the states or a similar construct abroad, these types of services are available to entrepreneurs in a complimentary one-on-one consultative framework.
Building a business is not always sexy, but we do not have to struggle as hard if we take advantage of ready guidance to nurture our greatness!
Lesson Number Two…developing community is key to our success! As we endeavor to meet our target market via networking, we cannot forsake the power of the one-on-one connect! Taking that extra step to conduct post event follow-ups to schedule these special 15 to 30 minute calls has opened doors for me to spotlight awesome business leaders in my Women’s Leadership Mindset blog series; feature as a guest writer in other leader’s newsletters and online courses, and speak as a guest panelists at some pretty amazing summits and podcasts.
On the flipside, I have had a few bumpy experiences that has taught me that many of us do not know how to have these pivotal conversations. Under no circumstances should we abuse this valuable time as a sales call to force a product; to recruit a new representative to our down lines or to gain a new client. Any attempt to impose our will upon a fellow entrepreneur that would divert their energy away from their mission and vision is disingenuous and inappropriate.
Successful one-on-ones can vary, but they are fundamentally designed to help us, as business leaders to:
Learn about each other and our motivations.
Learn how we serve the world with our businesses.
Learn each other’s preferred client profile.
Learn the kind of language our prospective clients speak that would trigger a referral to one another.
Learn if there is an opportunity to collaborate in our work.
I believe the ultimate goal of a one-on-one is to push one another, as entrepreneurial peers, a step closer to achieving our organizational goals! If we can walk away leaving behind a business tip, resource or warm introduction that may lead to a bigger opportunity, then we have done our part to enhance to business ecosystem!
Lesson Number Three…we must get comfortable with the idea that we are not for all people. We must become intentional about positioning ourselves where our target market lives to engage with those that:
Believe in the value of what we have to offer.
Have a need for what we have to offer.
Can afford what we have to offer.
And have a relative willingness to pay for what we have to offer.
As new entrepreneurs, many us struggle with the value of our good and services and often lower our prices in panic. But we should only adjust prices, IF it makes sense--not because someone said we are too high. It is important to conduct research to ensure our pricing is in alignment with our business type, industry and region to become and remain relevant. Some of us will find that we may need to increase the value of our goods and services instead of decreasing.
Yet, in an effort not to harm or economically alienate potential clients, a possible solution to consider is creating a tier pricing structure that provides a menu of standard to luxury bundle packages that could meet your customers needs and wants on all levels.
Lesson Number Four…if we need to get a job while you're building a business--get one! It does not make us a sell out to do so. We still have to pay for our life while we build our legacy. If possible, search for a position that will give you freedom to still work on your business until your business can stand on its own to support your family, lifestyle and community passion projects.
Lesson Number Five…if necessary, we must have a willingness to streamline business operations to launch further out into the deep. This process requires us to assess our progress utilizing the data provided via our social media, website and marketing analytical tools. The numbers do not lie and will help us make sound decisions for the health of the business. To maintain the wellness of our business will demand a willingness to start or stop activities that are good to focus on that which is right. Actions will vary, but could include:
Eliminating costs where there is no Return on Investment (ROI).
Investing to position our products in bigger markets beyond our current networks.
Reallocating the currencies of our gifts, time and energy into the people, places, spaces and initiatives that will consume our offerings and elevate the growth of our organizations.
Leaders, it may seem like I am overstepping my boundaries here, but I recognize where some of you are on your journey. I am on the same path and actively doing the exact things I mentioned above! Love In Leadership is the message I am carrying and it is demonstrated in my books, speaking, conferences and coaching. I know that this message is the right message for the age and I am committed to doing what it takes to carrying this message to the right people successfully!
In these early stages of creating something that will last for the next 100 years, it would be easy to shift gears because we may not see immediate results. But, in these moments, it is important for us to remember why and how we came to the market for such a time as this. It was not a mistake! It takes time to build trust, a solid clientele and generational wealth!
So, bottom-line, adjust what you need to in order to STAY IN THE GAME! Give yourself the gift of a holiday break so you are refreshed to jump into the new year. Above all, remain true to your WHY! You did not come to the market for nothing. Your first thought is the right thought! Now, cultivate it and WIN!
A CALL TO ACTION
To re-energize the leader you always were, join me for Love: The Success Factor Women’s Leadership Conferences beginning in January 2023!!
These 2-day immersive experiences will demonstrate how Love empowers Women to lead, create and generate wealth in the fullness of our equality and purpose!
Click below to learn more!