Welcome to the Era of The Entrepreneur! The economic downturn of the last two years has caused corporations to do lots of shedding, and that’s left many talented, experienced professionals without jobs and suddenly diverted from career paths that once seemed tried and true.
And for those professionals with entrepreneurism in their DNA, this jarring of reality hasn’t been bad news; it’s been the necessary nudge they needed to start their own businesses.
If you’re among the many who’ve gone from corporate structure to solo efforts, embrace this new era for all it’s worth. When times are lean, the smart respond accordingly, working with focus and more cost-effectively. While the brick-and-mortar corporation that deleted you continues to loose steam just trying to cut costs, you can take all your knowledge to sprint ahead.
Here are some specific tips:
- Plan and brand. When you’re first starting out, you need a plan and a brand. Though plans always change and brands will innately evolve over time, you must have a baseline and a preliminary road map to follow out of the gate. These essentials will propel you to succinctly define who you are and what your business doe, and they’ll serve as your core business pitch to potential customers and partners. The plan and brand can be great divining rods pointing to key opportunities.
- Start virtually. Unless you’re opening a retail outlet, lose any old school thoughts that a business requires a traditional address in a commercial building (with all the leasing and upkeep that comes with it, think markets such as New York City or Los Angeles). That kind of thinking is what’s gotten so many businesses behind the eight ball during these tight times. Technology and virtual resources (virtual offices, virtual meeting places or virtual conference rooms, etc.) allow you the front of a full-on business without the achingly expense and overly committed contracts. For specifics on the set-up, peruse the ideas found at www.davincivirtual.com to see just how simply and affordable you can get going.
- Be your biggest investor, board and c-suite. Real success for the “solo-preneur” comes in holding the most pieces—or preferably all—of the pie. Do everything you can to keep operations lean so that you can avoid the need for outside investment. If you’ve just been purged from a business that had done a poor job of holding its purse strings, be inspired to do the exact opposite. Pour yourself and your own finances into creating a viable business. Be your own board, CEO, COO and VC (venture capitalist) as long as possible, so that the decisions and the rewards are yours.
- Bring in the help of others where you need it most. Delegate the daily tasks that are necessary but that you can entrust to support staff. Then you can focus on real revenue streams and top level strategies. And if this seems contradictory to points one and two, think again! Just as there are virtual office solutions that allow you to be a business without a business location, there are virtual staffing options that will give you all the administrative support you need without hiring full-timers (or even fussing with the employment process). If you retain the help of a virtual assistant, virtual receptionist or virtual call answering service, you’re freed up to channel your talents and energies to core aspects of your business while being assured that calls and correspondence are covered.
Need more inspiration and ideas? Start by viewing the practical solutions at www.davincivirtual.com. This site will connect you to apply-now/afford-now business start-up options, and remind you that, though you may be your own business, you’re not alone! This is your time—and your chance—to do it right, right from the start.
great advise – thank you!