September Education Topic

Many of us have been entrepreneurs for years. Looking back haven’t you sometimes thought, “I wish I knew that when I began my business”. Here is your opportunity to pass on your knowledge to business owners just starting out; or someone contemplating a business.

Our interactive conversation was “Pretend you’ve been asked to mentor a beginner in business. Based on YOUR experience, what specific advice would you offer that can potentially help someone else build their business?” Thank you to the women of Acworth/Cherokee, Atlanta/Cumberland and Buford Xperience Connections for sharing:

• Get comfortable being outside of your comfort zone.
• Make sure you overcome resistance by being passionate about your business.
• Establish a routine so you don’t treat business like a hobby.
• Never quit.
• Maintain balance – take care of you.
• Be patient, persistent, committed and patient
• Set goals.
• Value the mentee/mentor relationship and be appreciative of one’s time, expertise.  Do what you say you’re going to do.
• People before profit.
• Eliminate negativity and negative people!
• Ask for help.
• Critical that you have a business plan for marketing and for your financial well-being.
• Keep financial records by establishing yourself as a legal entity so you can use legitimate deductions.
• Understand who your ideal client is.
• Create a relationship with an accountant.
• What you are doing should match with your skill set?
• Identify what situation/problem YOUR business solves.
• How do you intend to differentiate yourself in the marketplace?
• Be comfortable with technology as part of your marketing, database management, etc.
• Start with what you know and your story.
• Don’t compare yourself to others; getting better and that one more client is good.
• Look at others and know that if someone else can do it, so can you.
• Concentrate on why and not the how. Get feedback from target market only so you get encouraged.
• If someone does not want to do business with you, then they are not your target market.
• Read where the creator of KFC was rejected 1,009 times.
• Business 409 had 408 no’s.  You can search on FaceBook those who were told no and see these famous people who did not stop with a no – Oprah, and the Beatles.
• Remember mistakes help you progress.
• It takes a good four years to get a good customer base.
• The only way you can fail is to quit.
• People are quick to tell you to get a job and work for 45 years to be broke, but find it ridiculous to be an entrepreneur, work for 45 years and be rich.

 

 

There are really good nuggets of advice and information listed. These can not only help someone starting out, but also those of us who have been in business for years. I’m sure there are other great pieces of advice. What advice would you give as a mentor? Please leave in the comments below.