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goals

1710616755_cf606d5c7fThis is a tale about how a solopreneur learned a lesson in perseverance. This morning I returned home from dropping my son off  at school and proceeded to brew some coffee. Without fail, nearly every morning I make two cups of coffee in my Cuisinart coffeemaker. Today was different, it took me three tries to make my usual two cups of coffee. 

The first time I guess I was rushing and forgot to put in the filter.  As a result the coffee pot filled up with sludge. I dumped out the mess and began again. On the second try, frankly I still don’t know what went wrong.  The filter was now in, but again I got sludge.  Maybe the lid wasn’t placed securely on the carafe. I really don’t know. I just know that I’d wasted four heaping tablespoons of ground coffee and still didn’t have anything to drink. 

So again, I threw away the sludge and started the process from scratch. This time I paid attention to all of the steps. I looked carefully at everything, making sure that everything, from putting in the coffee to securing the carafe lid, was done properly.  I also decided to stay in the kitchen rather than duck into my office as I had done with the prior two tries.  If anything went wrong, I could immediately rectify the situation.

As I was drinking my coffee I was reminded of how most solopreneurs, including myself, want immediate results.  In reality, it usually takes us a few tries to get it right.  You don’t marry the first person you date.  You don’t buy the first house that you look at.  Hell, let’s not even discuss how many bathing suits you probably try on before finding one that you’re comfortable wearing in public.  So, in most areas of your life you’re okay with the idea that it may take several tries before you succeed… expect in your business. 

As a solopreneur or freelancer, your desire/need to make money is fueling your frenzy to find quick results. You hire a client attraction coach hoping that her system is some magic bullet that’s going to have people clamoring for your services. When that particular system doesn’t work quick enough, you hire a social media expert to help you to increase your online visibility. When in a month you still only have 50 subscribers to your newsletter, you’re off to the next “expert.” In a year–12 months you may have tried 3 or 4 different things to improve your business…and nothing worked.

Hiring experts is fine and necessary, but they’re useless unless you have a defined goal. Moreover, experts can’t help you if  aren’t willing to put in a decent amount of time to see if their strategy is working.  A goal simply put is what you want to achieve, in a given time frame.  This morning I wanted a cup of coffee.  You may want: 10 new customers this month; $25,000 in sales next quarter; or an article about your business in your local  newspaper by January. 

Once you’ve established the goal you’re in a better position to  determine the best path to accomplishing it.  The point is that you should be willing to stick with one strategy, until it’s crystal clear that it’s not for you or your business. Randomly jumping from the next rarely does anything than waste your money. If you pay attention, you’ll notice that most experts master one topic or one process/procedure BEFORE venturing off into some new territory. 

There are very few overnight successes.  Most successful people started out as broke nobodies, this includes Madonna, Martha Stewart or Oprah.  They worked hard, sought out opportunities and connected with folks who could forward their businesses (experts).  My point is that your business success is probably not going to come with the first try—it may take several tries for you to make it happen.

I could have given up my quest for coffee and just made some tea. I however wanted the coffee and stuck with it.  I’ve  had the “shiny ball” syndrome—hoping that this new blueprint or teleseminar series was the answer what I needed.  These experiences were learning opportunities.  Now that I’ve figured out what I’m REALLY aiming to do with my business, I’m able to dismiss the noise of the business-help marketplace. I’m also now connecting with experts who resonate with me and my business goals.

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Are You Treating Your Home-Based Business Like a Hobby?

by Yvonne Bynoe on September 8, 2009

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Here’s a pop quiz: What is the key difference between running a business and pursuing a hobby?  The answer is: You run a business to make money, while  a hobby is something fun that you do in your spare time.

So, do you have a home-based business or a glorified hobby?

Here are 5 Questions to Ask Yourself:

1.  Do you have a clear set of financial goals for your business? In order for your goals to be effective, they should be date certain (meaning completed by a particular time), measurable, and attainable…with some work.

2.  Is there a market for your product or service? To answer that question you must do some formal or informal market research to see if there’s a REAL need or demand for what you’re offering. Market research is especially critical if your business is restricted to a particular geographic area.

3.  If there’s a market for you product or service, can they afford to pay for it? For your business to be financially viable your pricing has to be what your market is willing to bear–if it’s too  high you won’t have many customers. (Also, if you are charging significantly more than your competitors, what is the added benefit for customers to buy from you?)

4.  If your market can afford to pay for your product or service, do you have a promotion and marketing plan to reach them? If your target audience doesn’t know that your product or service exists there’s no way that they can purchase it from you…even if the price is right.

5. Do you outsource work that doesn’t directly generate income for your business? The time that you are spending filing papers, going to the post office or getting supplies from Staples is time that you aren’t making any money.  You can use virtual assistants (who often work on an hourly rate) or college interns as inexpensive ways to get your “support” work done.

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