When it comes to starting a business, we sometimes get stuck over analyzing what to do and where to go from here.  We want everything to be perfect so, we spend most of our time trying to change and fix things before we even get started.  “Analysis Paralysis” can be one of the biggest obstacles that would-be women entrepreneurs have to overcome.  I know this very well because I’ve been stuck there many times myself.  It’s an easy trap to fall into and it usually hinders our progress and keeps us from moving forward with our business in a timely manner.

The truth is that at least 90% of the time, what we are trying to do is not brand new.  Most of the time our business idea is an improvement upon, an addition to, or a different twist on an old product or service.  This is not to say that you aren’t brilliant and have great ideas.  It’s just highly probable that what you want to do has been done in some form or fashion before.  My point is that there is no need to re-create the wheel unless you have a product that is a new invention that’s never existed before.

Do your research, use what’s already out there, and build upon that.  Entrepreneurs have been doing that since the beginning of time.  This very concept is why we have options in the marketplace.  There would be no need for the phrase “new and improved” if we weren’t constantly looking for better ways to do things.  That’s where you, the new entrepreneur, comes in.  Maybe you have an idea that’s an improvement on an existing baby product or you’ve come up with a service that would be a great addition to your day spa experience.  In either case, there are people out there that have been there and done that.

Don’t get stuck in the beginning trying to create everything from scratch.  Don’t allow yourself to think that you can’t move forward and take action on your new business until you come up with all of the answers on your own.  Research is an important part of any business startup phase.  Use the resources that you find.  Find examples of businesses that closely resemble what you are trying to do and use them as a starting point or model for your business.  Communicate and network with others to get the help that you may need to add your new spin to an old idea.  Be creative. Your idea is probably a good one.  Don’t make the marketplace wait to see what you’ve come up with.  There’s always room for something that’s new and improved!

Tags: Business Ideas, cars, getting unstuck, new and improved, new business, new ideas, old and new, startup phase, women business owners, Women entrepreneurs

“A year from now you may wish you had started today.” – Karen Lamb

Procrastination is not our friend yet, it hangs around everyday waiting for a chance to join our party.  If you are like me, you’ve invited procrastination into your life on more than one occasion.  It’s a little easier to avoid the pitfalls of procrastination when you have a set plan or to-do list.  When you know exactly what you’re doing and feel comfortable doing it, you are less likely to put something off until tomorrow.

However when it comes to doing new things, we tend to delay our efforts to get started.  The fear of the unknown and doubts about our abilities sometimes hinder our progress.  I know that starting a new business is one of those things that gets put on the back burner if you are uncertain about how to start or you fear the end result will be less than stellar.  We tend to think that if we put off starting that business just a little while longer, then it will be easier and our chances for success will be greater.

While it is true that a little preparedness goes a long way when starting a business, doing nothing will get you absolutely nowhere.  You already know that you want to start a business and you even have a great idea that could translate into profits.  So, what have you done to move forward with this idea and fulfill your dream of business ownership?  Here are 5 easy things you can do right now:

1. Organize your Thoughts and Put them on Paper – You have heard me say this before and it’s still a good place to start.  This a time for you to see your ideas start to come together and form an actual business plan.  It makes the thought of entrepreneurship seem real.  Once you start to organize your thoughts, you will begin to picture the vision you have for your business and that will lead you to take the necessary steps to make it a reality.

2.  Read – You can never read enough or have too much information when trying to start and run a business.  Read books about, written by, and written for women entrepreneurs.  These books will not only serve as inspiration but, many of them will give you insight and tips about making it as an entrepreneur.  Dust off your library card and be sure to check out some of the recommended reading on the Boutique Bookshelf.

3.  Research – Once you’ve organized your thoughts and you start reading about other women entrepreneurs, you will want to begin research on your specific industry and target market.  It’s great reading and learning about Elizabeth Arden or Lisa Price of Carol’s Daughter but, if you want to start a Day Care you may want to be sure you are knowledgeable about that industry and it’s practices.  I’ve never run a Day Care but, I’m pretty sure it’s a little different than running a cosmetic empire.  Know YOUR business.

4.  Network – Take the time to join organizations and meet people that may be able to provide help and guidance for you during your business venture.  You can’t do this alone.  You shouldn’t even try.  Get out and talk about your ideas.  Tell others what you want to do.  Find out what others are doing and how they are doing it.  Whether it’s an organization like National Association of Female Executives or something very specific like National Speakers Association, they all provide access to resources and people that can assist you while you take this journey.

5.  Find A Mentor - Find someone you can talk to on a one-on-one basis that will be there to answer questions and give advice.  You may meet this person through one of your networking events, you may know them from your community, or you may hire them as a consultant or coach.  In any case, find someone that will help you get organized and come up with a plan.  Someone who has been there and done that.  Someone who wants to help you and see you succeed.  Everyone could use a mentor and personal cheerleader.  Be sure you find one early in the process.

Just doing these simple things can get you started down the path to entrepreneurship.  Starting and running a business is a lot of hard work and very time consuming.  That fact will not change whether you start today or next year.  However, you will get a lot farther and begin to enjoy the benefits much sooner if you start today.

Tags: Business Ideas, mentor, Networking, procrastination, read, Starting a business, Startup Tips, to-do list, Women entrepreneurs

Even before the economy started its downward spiral and joblessness reached some of the highest levels in decades, many women struggled with the decision of whether or not they should quit their job in order to start a new business.  I hear women say all the time that they can’t start a business right now because they can’t afford to quit their current job.  Let me just say that unless you have a SOLID backup plan to cover your living expenses, then I would never suggest that anyone quit their job to start a business.  I would also say don’t let having a full-time job stop you from turning your business plans into a reality.

Make sure you take into consideration everything it will take to run a business in the early months and years before you decide to jump ship.  You have to do your homework and know the numbers.  If numbers are not your thing, then you need someone on your team that will know the numbers. It takes most businesses months, sometimes years, to start making a profit and you have to be able to live during those periods.

However, just because you may still have to work for a living that does not mean you have to put your entrepreneurial dreams on hold. You can start your business part-time until you build a sufficient client base.  I know it may seem like there are not enough hours in the day but, it can be done and it’s being done everyday.  There are many women just like you that are slowly, but surely, turning their side hustles into a profitable full-time business operation.

You have to plan your days and weeks in order to set aside time to work on your business.  The sooner you get to a place where you have money for those rainy days and months, the sooner you will be able to concentrate on your business full time and map out a plan to finally quit your day job.  The key is that you have to know what it’s going to take and you have to plan for it.

In the meantime, you may need to pass on a few new dresses, handbags, or cocktails with the girls.  In the end, it will be well worth it to realize your dream of business ownership.  Believe me – I know that sacrificing bags, shoes, or anything fashion related is a major concession.  Nevertheless, the sooner you get your business up and running and making a profit, the sooner you can get back to shopping and make up for lost time!

How are you managing the grueling demands of keeping your day job and starting your new business?  Leave a comment and let the Boutique readers know what keeps you going.

Tags: backup plans, part-time business, quitting your job, Starting a business, startups, women business owners, Women entrepreneurs

When talking to a lot of women about starting a business, one of the first things they say is that they have absolutely no idea where to start.  Sound familiar?  I’ve been there and just thinking about all of the things that could be involved with a new business venture can be extremely overwhelming.  I’m talking about sweaty palms, migraines, and a few upset stomachs.  Once I assure them that they won’t actually die trying to start a business (you may feel like you’ve come close at some point), I simply tell them that the perfect place to start is with their idea or ideas.

Grab a notebook or your laptop, pour your favorite latte, get comfortable, and get in the zone.  Start getting those thoughts out of your head and onto some paper.  Now, don’t trip over your stilettos thinking that this is the time when you start writing a 100-page business plan.  That’s not what I’m talking about here.  You’ll have plenty of time to get to a business plan and you’ll never, ever hear me suggest that you write one that is 100 pages long.  I’m simply talking about putting your ideas on paper.

Once you start writing these things down and really giving it some thought, it becomes real.  They start to look like legitimate business ideas.  Write down all the things you love to do.  Write down all the things you want to do.  Write down all the things you have a passion for.  Don’t just write down your hobbies.  In some cases, a hobby is just a hobby.  Write down the ideas that you can turn into viable business solutions.

These ideas should not only interest you but, they should also interest other people enough to spend money for it.  It may be something others need or it could simply be something nice that they want to have.  In any case, it has to be perceived as valuable to a customer so that they will spend money to have it.  You could have a vision for a product or service or both.  Put your ideas on paper and start organizing your thoughts.  Make it real so that it becomes more than an internal wish list.  This is just the beginning.  You will make many, many changes before it’s final.  This is simply a way to move forward and get started.  So, what are you working on this week?

Tags: Business Ideas, Starting a business, startups, tips for starting a business, Women entrepreneurs