Wednesday, March 9, 2011

So: Have You Spent Yourself Out of Business Yet?

Many new entrepreneurs set out on the quest for success with high hopes and bounding with enthusiasm.  While this certainly helps to build momentum, most grow discouraged and run out of steam just short of the goal.  More importantly, they run out of MONEY. Run our of money


One of the biggest challenges aspiring business owners encounter in their first 6 months in business is a budget shortfall.  However, this doesn’t have to happen to you if you pay attention to these four tips from the start.

1) Plan, Plan, Plan, Plan, Plan and Did I Mention Have a Plan? 

We all hear if you fail to plan you may as well plan to fail.  Well, this is definitely true when it comes to starting a business.  A simple flow chart can prevent you from getting side tracked with the hundreds of new fangled marketing techniques running about the internet. Pick one program or product along with one marketing plan and implement. Branch out after and only after you have mastered these.Business Plan

2) Budget is NOT a Dirty Word

Be realistic in how much disposable income you have to contribute to your start up.  Success typically does not come overnight so stick with your budget until you have a steady source of income from your business.  (Don’t quit that day job, either!)


3) GMTA?

Do great minds really think alike?  Uhhh, YEAH!  Find yourself some ambitious entrepreneurs who are open to sharing ideas and are committed to preserve to success.  Remember that you CAN NOT take everybody with you.  Cut your dead weight because the road to success is UPHILL.  If those around you don’t increase you, they will eventually decrease you.

4) Know Why You’re Doing This  Blueprint for Success

If you want to achieve success in business, you have to identify a compelling “why?”  In essence, answer the question, “What attracted me to this industry?”  and “How does this step fit into my long-term goals?” and “How do I hope to better my life by going out on my own?”  Write these answers down and post them in a conspicuous place to keep yourself focused through the challenging times.  If you are serious about building your own business, make up your mind to pay the price of a worthy goal upfront.

Those first steps don’t have to be painful.  Help is available to guide you in developing a blueprint for your business and a custom marketing strategy.  Get ahead of the learning curve at  Get access to free training and leads for your new business.

AskWendyWebb is a division of The Jowen Network.

1 comment:

  1. You can't overemphasize the budget step. A lot of start ups fail due to folks not doing their homework with respect to the capital it takes to start and sustain throughout the first year of business. Also, I would add flexibility. I understand its important to stick to your plan, but if business dictates a slight change is needed, it has to be considered.