Article

Putting Off Launching Your Business? Here's Why You're Stalling.

That business idea’s been swimming around in your head for a while now, hasn’t it. Yet every time you think you’ve finally decided to give this entrepreneurship thing a go, something gets in the way. Your housework. Your spouse. The job you don’t like. Summer vacations. Around every corner, there’s something to delay you, some reason to put off your entrepreneurial dream. There’s one big reason it hasn’t happened yet, though – and it’s not out there somewhere. It’s in you. The very first thing you need to do to begin thinking like a business owner is to decide you’re committed. Yes, that’s right – first and foremost, entrepreneurship is a mindset. Wondering how to develop that mindset?

Clarify Your Business Idea First

It’s not enough to say you’re going to open a new donut shop or that you’ve designed a really cool jacket for dogs or that you’re a copywriter for small businesses. That isn’t enough for people to remember you and understand how you’re different from all the other people who also do those things. What problem do you solve for customers? Perhaps you offer products in a location where they didn’t exist before. Or, you have a unique approach to your services that no one else has. By stating what problem you solve for customers, prospects are more likely to think of you when it’s time to buy whatever it is you sell. 

Define Who You’re Selling To

You’re right that most people like donuts. But there’s no chance that “everyone who likes donuts” will try yours. Only some of them will – and it’s a smaller percentage than you think. So instead of starting broad and selling donuts to everyone who likes donuts, or everyone who has a dog or everyone who isn’t good at writing, start with One. Single. Customer. Just one. Pretend you can only ever have one buyer (but you own a cloning machine – phew!). Describe that person – on paper – in as much detail as possible, until you can’t think of anything else. When you talk about your business, talk to that person. You’ll begin to attract people like them. And that’s much easier than just hoping they find you.

Gather Resources

One of the biggest mistakes new entrepreneurs make is trying to do everything alone. Besides doing market research, align yourself with other people who can help you launch this thing better and sooner – lawyers, designers, consultants, marketers, nearby businesses, and more. Create your own “wolf pack” and help each other out. You’ll learn a lot about business along the way, and you’ll begin to understand the power of reciprocation in business right off the bat.

Plan it Out

With your one perfect customer at the centre of everything, you can now create a plan to connect with people who are just like them. Your vision is clearer, decisions become easier, and the potential of your business becomes more real. Now you’re in the right mindset. It’s time to write your business plan – and enjoy the process of launching something special. You have all the tools you need already. It’s time to take the leap.