If you are starting a business you should know the FACTS about hiring a business coach. 

Our team based in Miami, Florida takes an approach based on our model – We bring F.A.C.T.S. to our clients.

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One of the best ways to create value is by being the person who “gets things started”.   People who can start things – projects, conversations, businesses etc. – are incredibly valuable.  Taking a vision and making it a reality is difficult.  Why is this? 

First, there is the overwhelming nature of having hundreds of tasks to accomplish.  Even the smallest project or business has thousands of details associated with it.  Getting wrapped up in those details is a trap that is just waiting for the new small business owner.  In order to get past this feeling of becoming overwhelmed,  I recommend focusing on just one of them each day.  Each day cross one thing off of your long-term “to do” list.  Before you know it, you will have five to ten major tasks accomplished.

Next is the need to sell.  Selling scares people.  Many entrepreneurs think that they must learn some magic technique before they go out and offer their services.  In truth, there is no magic technique.  You just need to go out and listen to the needs of your potential clients and help fill them.

Then there are the self-limiting beliefs that make many entrepreneurs feel as though they don’t belong in business or they don’t deserve success.  Sometimes these feelings are present in our conscious mind and sometimes they are below the surface in our subconscious.   These feelings must be dismissed immediately and dramatically.  One of the exercises I ask my clients to do involves writing their negative thoughts down on a piece of paper and then burning that paper.  As the smoke rises up into the air, their negative thoughts and feelings evaporate with the smoke.

Finally, there is good old fashioned laziness.  It is easier to do nothing.  You can’t allow this feeling to control your behavior.  You need to break free of it early and often.

What is the common denominator in all of these items?  You.  The power to control the development of your new business lies in your hands.  You must make this happen.  It is your destiny.

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During the past few years I have interviewed hundreds of entrepreneurs.  Each of them has had interesting advice to offer to people who are just starting out.  There are three things that just about every entrepreneur has said, in one way or another.  I have included these three items for your review. 

Action is Better than Analysis

The world belongs to those who “do”.  Planning is a key component of success but over-analysis is a sure way to guarantee failure.  I know many people who check and double check their facts and figures.  They launch study after study as they wait for exactly the right time to get started.    The truth is that there is no “right time” and their is no “wrong time”. 

So what exactly is the correct answer when it comes to starting business? 

The successful entrepreneurs I’ve encountered set goals on a one, three and five year basis.  They then sketch out a rough plan that will guide them through the first few months of their business – with the one-year goal in mind.  Then they let it rip.  They get started right away.  They take some action.  They generate some momentum.  After the first few months, they create another rough guide based upon their initial experience.  They adjust your plan to fit reality every few months.

The key is to take action toward achieving your goals each and every day.

Persistence Increases the Likelihood of Success

Persistence is one of the most important qualities a person can possess.  It is more important than intelligence.  It is more important than talent. And it is definitely more important than experience.  Failure is no match for a persistent individual.  As an entrepreneur you must be relentless in your desire to succeed. 

Never give up.  If you keep coming back time and time again and you greatly increase your chances for success. 

Ignore Negative People

Negative people will try to steal your dream.  Friends, Family and Significant Others may tell you that your business will never work.  They may tell you that you are destined to fail.  They may say that you are wasting your time. 

They will be wrong.

Sometimes these people will be will-intentioned.  Other times they will be jealous and looking to keep you from bettering yourself and your lifestyle.  Either way they should be ignored. 

Much of your success depends upon your level of confidence.  You need to avoid anything and anyone that diminishes your confidence.

These things seem simple don’t they?  Everyone grasps each of these concepts quite quickly when they are introduced yet few people adhere to them.  Keep in mind that these are the three things that the successful entrepreneurs I interviewed all had in common.  There must be something to them.

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…Get a client.

It’s that simple.

Many entrepreneurs decide to go into business without any idea of who their clients will be and where they will come from.  This is a strategic error of epic proportion. 

There are a number of ways to test your business plan.  Focus groups, surveys, in-depth individual interviews can give you some thoughts on the preferences of your potential clients.  Desk research (reading reports, books and articles prepared by others) is always a good idea. 

There is only one way to make certain that your business model is viable and that people want to buy what you have to offer.  Go out and get yourself a client.  Do it now.  Do it before you make your entrepreneurial venture your sole source of income.

This process may be shocking (like jumping into the deep end of the pool to learn how to swim) but it will pay off.  Here are some of the benefits of soliciting a client (or clients) before running head first into your new business venture:

You will find out how receptive the market is to your ideas. There is nothing more refreshing than hearing the words of a customer directly from their mouths.  While it may be painful to get direct (and unflattering) feedback, it is much better than going broke.  A bruised ego is better than a battered bank account.

You will refine your marketing and your sales pitch. Communicating with your clients in their own language is critical to the success of any business.  Pitching your ideas to a potential client directly will move your strategy from the drawing-board to the street.  This will be help you jump start your sales and marketing.

This is an opportunity to see how long it takes to secure a client (the sales cycle). Most business owners underestimate the amount of time it takes to get a new client.  They believe that they can just hang their sign and the clients will flock to their door.  Actually soliciting a potential client will help you understand just how long it takes to turn a prospect into a paying customer.  This is an eye-opening experience.

You can determine if you have set your price point accurately. Many new business owners make pricing mistakes.  If you have priced your product too low, you will go broke trying to fill the orders.  It is better to learn that you have made this mistake with your first (and only) order than to learn it with fifty or one-hundred orders.  You will also learn if you have priced your product too high.  If your price is unrealistic, you will have a tough time getting people to commit to a purchase.  Again, it is easier to make adjustments while soliciting one client rather than printing up one thousand flyers with a bad price on them.

The feedback you receive during this process will help you decide who to hire.  You will learn a great deal about yourself while soliciting your first client.  You’ll learn what you like and what you don’t like.  This will allow you to plan to (eventually) hire someone to do the things you hate. 

This idea seems simple because it is.  Often we hear business gurus make things complicated.  It doesn’t need to be that way.  Start your business on a part-time basis.  Get one client and review the process involved in selling and servicing them.  Then get another client and refine the process.  Before you know it, you’ll have enough clients to “quit your day job” and run your business full-time.

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The best time to start a business is right now. 

It is going to be difficult.  There will be tough times.  You will need to sell.  You will need to take some risks. 

It’s better to get this stuff out of the way early.  Avoiding these challenges will mean delaying your success.  Just get it over with.

Start now.  You’ll be that much closer to success of you do.

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