"You don't have to be great to start, but you have to start to be great." - Unknown
After the success of our Profit Mastery Course (NOTE: we have since revamped our courses and you can check out more here), lately I have been working with a lot of more seasoned entrepreneurs to help them increase their bottom line. Although I enjoy them, the truth is that I loveeee working with new first-time entrepreneurs. I mainly enjoy working with them because when people reach out for assistance the first time around it significantly minimizes the mistakes they will make as an entrepreneur and increases their chances of success.
Nearly 80% of entrepreneurs fail within the first 18 months so it is still so surreal to me sometimes that soon I'll be entering my SEVENTH YEAR as a full-time entrepreneur. At this time of the year I am always reflecting, here are some things I wish I had known when I started my first business:
Risk Taking Is Not Negotiable: The dictionary defines entrepreneur as a person who takes risks. When I started my business, I tried to get around this until a year in and still being broke I realized I could not get around this. You can be an entrepreneur who doesn't take risks and never becomes successful, or you can be an entrepreneur that takes risks and gets a HUGE reward. You cannot have both, you are one or the other. Playing it safe as an entrepreneur will get you a safe profit, and you could've stayed at your job for all of that. Remember, you started to be awesome not to be average. Greatness and comfort do not hang out together!
Pick Up The Phone Or Stay Broke: Yup, I tried to get around this one too. It really cracks me up now when I look back on it and think how afraid I was of picking up the phone and closing sales because now I love it and truly can sell anything. If you are in business, you ARE a salesperson. There is no getting around this. If you are not picking up the phone to make sales calls or follow up with leads then you are leaving a TON of money on the table. If you are too timid to get on the phone then you are too timid to get paid.
Everyone Is Not Your Client: Knowing this sooner would have saved me a lot of time and a lot of money. Seriously. When I started my first business, I was talking to everyone because I thought I could help any and everyone. This is a problem that many entrepreneurs have. We love what we do so much and we really just want to help everyone, our heart is in the right place but our profit is not. NEWSFLASH: If you are targeting everyone, then you really are not targeting anyone. One of the first things I have my private coaching clients do is create a profile of who their ideal client is. They ALL hate me at first for this, but when they see how effective it is and how knowing your ideal client increases your profit dramatically then they all love me again.
I hope these tips have been super helpful for you if you are a first time entrepreneur! I would love to learn more about your business and answer your questions, submit your questions to www.askraevyn.com or click here to apply for a complimentary Get Into Action Session with me to discuss a plan of action for your business.
PINK SLIP TIP: The best things in life aren't things
The best things in life aren't things. When you go into business thinking about all of the things you'll be able to buy and money you will make, you are already starting off wrong. Focus on your purpose and making a difference. Yes, we are all in business to make a profit but when you serve more you will make more