Happy National Entrepreneurship Week! In honor of entrepreneurship week, and because I am one myself, I want to talk to you about what it means to be an entrepreneur. We will go through a quick overview, and I will point you in the right direction for further information.
How Do I Become an Entrepreneur?
To become an entrepreneur, you must identify and solve a problem. Having a cool product is great, but if it doesn’t solve a problem or a want, no one will buy it. Before developing a business, you must:
- Complete market research
- Identify the ideal clientele
- Create a standard operating procedure
- Build a product or service
- Provide multiple offers
- Network the product
- ENJOY what you are doing.
I go into the details more in my blog, Refining Signature Offers.
You may be thinking….uh…how do I do all of this? This is just a basic outline of what it means to become an entrepreneur. It may seem overwhelming or beyond your scope of capabilities, but you can learn. It may be necessary to expand your formal and informal education, perhaps even work with a coach.
Remember, you don’t have to go it alone; find a mastermind, buddy, or coach to nudge you along when you get stuck. Please don't wait to be perfect but take action and learn from it.
How Do I Find the Right Clients or Customers?
I have talked about what it means to find the RIGHT clients or customers a lot! Successful entrepreneurs know the answer to who is their ideal client and what they are googling at midnight.
One of the worst bits of business advice I ever received was to take on every client. That’s simply ineffective. It would be best if you determined who your ideal client is, why you want them, and how you can help them (specifically) solve their problems. By finding the right clients, you will build a strong client network that performs again and again.
What are the Business Stages I Must Complete?
There are three phases to business: Business Development, Business Operations, and Business Growth.
To plan a successful strategic plan, you must understand your business's phases. Growth and traction come from giving your attention to the right actions and doing the appropriate tasks related to operating your business.
Let's start by identifying items associated with each stage of a business; this way, you will be able to determine where you are currently at in your business.
Payment collection system (separate from personal accounts)
Ideal client avatar
Email system & a welcome sequence
Signature program enhancement
You feel you can raise your rates/fees
You have passive income
Signature offer launch on autopilot
Scaling your offers
Challenges, webinars, and collaborations
Social media on auto-pilot & repurposing content
Funnel for email growth
Standard operating procedures and ideal calendar in place
Hire a part-time virtual assistant
Use book-keeping software and a professional for finances and taxes
Pay yourself a regular paycheck
Take time off
Upgrade website & marketing collateral
Grow list and use more partners
Complex automated funnels
Increase sales per offering
Increase the lifetime value of a client