There are a lot of words used to describe entrepreneurs.  Entrepreneurs come in many varieties.  There is no  “one size fits all” in the world of entrepreneurship.  Each entrepreneur is different just as each of their businesses are different.  You will find that entrepreneurs have many traits and characteristics that contribute to their success as a business owner.  Still, there are some things that many successful entrepreneurs have in common.  When it comes to building and running a successful business, you will find that some attributes will crossover from entrepreneur to entrepreneur, industry to industry, and business to business.

If you have started a business or are ready to start a business, how many of the following adjectives can be used to describe you as an entrepreneur?  Which of the following 10 words are on your list of attributes?

1)  Accountable – Be responsible for the decisions you make or do not make regarding your business.  At the end of the day, your success depends on you.

2)  Authentic – Be yourself.  It’s natural and does not require extra effort.  Show your colleagues, customers, and employees the real you and make sure your business represents the real you and not some made up version of you. That way no one has to guess.

3)  Confident – Don’t doubt yourself and the decisions you make.  Having conviction and self-assurance will help you gain the trust of your customers.

4)  Determined – Don’t let obstacles and roadblocks stop you from reaching your goals.  Never let anything get in the way of what you’re trying to accomplish.  Stay the course and fight for what you want.

5)  Fearless – Fear can immobilize you if you let it.  Fear will stop you from pushing forward.  Fear of the unknown will lead you to do nothing.  Be brave and do what’s necessary to get you and your business to the place you want to be.

6)  Grateful – Be thankful for everything, even the little things.  Be glad that you have and will continue to persevere even during the tough days of entrepreneurship.  Be grateful for finishing your business plan, for finding a location for your business, for hiring your first employee, or for making your first sale.  A grateful, receptive heart and mindset will lead you to receive more good things.

7)  Motivated – Give yourself a reason to do what you do.  Be excited about it.  Be a cheerleader for your cause.  If you don’t want to get out and tell your story then no one else will either.

8)  Passionate – Do what you love.  Find the fire.  Do what makes you happy.  Do what makes you want to get out of bed in the morning.  If you follow your passion and put all you have into doing what you love, the money will come.

9)  Realistic – Be honest with yourself.  Set realistic goals for you and your business.  Don’t set yourself up for failure by doing too much too soon.   Make sure your decision making is based on reality and not fantasy.  It’s okay to set lofty goals, just be realistic about how and when you can accomplish them.  Keep it real always.

10) Visionary – Use your imagination.  Have the foresight to be a leader and see the big picture.  You have be able to get to a point where you are working ON your business and not IN your business.  Set long term goals as well as short term goals.  Be able to tell the story of your business from beginning to end, then watch your vision manifest itself.

Do those words describe the entrepreneur in you?  Would anyone else use those words to describe you?  Do you think you have what it takes or do you need to work on a few things?  These aren’t the only qualities that help make an entrepreneur successful but, these attributes will carry you a long way during your entrepreneurial journey.  Don’t just take my word for it.  Talk to your mentor, interview successful entrepreneurs in your community, or read about an entrepreneur that inspires you.  You’ll probably find that they have a few things in common.  Make it your goal to follow in their footsteps and join them in the ranks of successful business owners.  Decide what words will be used to describe the entrepreneur that you are or will become.

Tags: attributes, characteristics, Motivation, Passion, qualities, Starting a business, Startup Tips, successful entrepreneurs, women business owners, Women entrepreneurs

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

TGIF! I don’t know about the rest of you but, I am glad that it’s Friday! Why is it that when you are out for a couple of days to travel, it always seems to take more than a couple of days to catch up? It’s been a week since I traveled to my family reunion but, I think it’s going to take the weekend to truly catch up and recover!

I thought that today’s post would make a great follow-up to the question I asked in a post earlier this week. Earlier I asked, “Why do you want to start a business?” Today, I want you to consider if you have what it takes to start a business. The answers to both of these questions are important as you make your decision to jump into the world of business ownership.

If you aren’t sure WHY you want to start a business or IF you have what it takes to start a business, then you may need to reconsider your decision to become an entrepreneur. Starting and running a business is not for the faint of heart so, knowing WHY you’re doing this and IF you can do this gives you something to fall back on while you go through the ins and outs of running a business.

The July/August issue of Inc. magazine features an article, “Do You Have the Right Stuff?” In this article, the author tells you to ask yourself 6 questions before you start a company. These questions will make you think and really consider the road ahead before moving forward with your business. The 6 questions to ask are:

1) Do you believe you have what it takes?

2) Are you able to let other people down?

3) How do you handle setbacks?

4) Are you really an inventor, rather than an entrepreneur?

5) Can you accept that your company may outgrow you?

6) When you look in the mirror, does an entrepreneur look back?

What are your answers to those questions? How many of those questions could you answer in the affirmative? Be honest with yourself. If your answers need a little work, then take some time this weekend to consider the task ahead and be sure you have what it takes to build your dream business. Go to Inc. magazine’s website to read the article in its entirety. Have a great weekend!

Tags: new business, Planning, questions about business, self-assessment, Starting a business, Startup Tips, what it takes, Women entrepreneurs

I’m still recovering from a nice long weekend of mingling with 100+ relatives at my family reunion in Ohio.  It was a great weekend and I had a great time but, I always need time to recover when it’s over.  However, my recovery time will be short this year because next year’s reunion is in Atlanta, GA.  Guess what I’ll be working on in my spare time for the next 12 months!!!  One of the many perks of owning a business is being able to arrange a schedule that will accommodate taking on a project like that!

I always ask the following question of would-be clients and anyone else that tells me they want to start a business.  WHY do you want to start a business? There are just as many answers to that question as there are people that respond.  Everyone has their own answer or reason for wanting to start a business.  Some reasons are deeply personal and complicated. Still, others are pretty basic and cookie-cutter. Through it all, I’ve found that a lot of the reasons tend to fall in 3 general categories.

1.  A More Flexible Schedule

You may have children and want to be able to spend more time with your family.  In my case, my mother was ill and lived 4 hours away and I wanted to be able to care for her and spend time with her.  Some may want to have more time for travel and doing the things you like to do.  Regardless, having a business where you are in more control of your time is a very desirable perk.

2.  Pursue A Passion

It’s easy to find ourselves just going through the motions when we are doing something that doesn’t interest us or feeds our need to do something meaningful.  Many would-be entrepreneurs want to turn a passion of theirs into a business.  They want to feel as if they are adding value and doing more than contributing to a corporate bottom line.  Owning a business allows many to be creative and spread their wings.  In the end, most of us want to do something that makes a difference and gives us a feeling of pride as we watch it grow from conception to a profitable business.

3.  Long-Term Financial Freedom

We’ve all heard that you’ll never get rich working for someone else.  Many people want to be able to create, build, and grow their own wealth as opposed to being dependent upon a paycheck.  The current state of the economy reminds us that there are no guarantees.  Today, there are many people who lost jobs and/or retirement nest eggs and they are turning to entrepreneurship as a means to start over and hopefully, lead them to future financial freedom.

What are your reasons for starting a new business?  Why do you want to take that leap from employee to business owner?  What do you hope to accomplish in your new venture?  Make sure you really consider the answers to these questions and others before taking the plunge.  You want to be sure you do it because it’s right for you and you are ready to do the work.  Your reasons for starting your business should mean enough to you to serve as inspiration and motivation to keep you going and help you set goals that will lead you to success.

Tags: financial freedom, flexible schedule, Passion, Starting a business, Women entrepreneurs

It’s Friday and I’m on my way to my family reunion in Ohio.  Every year my dad’s side of the family has a reunion and it always makes for a fun and  interesting event!  Both of my parents have passed so, it’s not quite the same attending these kinds of functions without them.  Nevertheless, I always enjoy seeing my relatives and this year my brother and I are traveling to the reunion together.   I’m sure the weekend will be better than anything you can find on Reality TV!!!

As I thought about my upcoming reunion, I naturally thought about the importance of having support systems in our business lives, as well as our personal lives.  We usually do a good job surrounding ourselves with supportive family and friends when it comes to our family lives. However, we tend to try and go it alone when it comes to our careers and business affairs.  Our careers are, in some cases, one of the few places we get to shine and have a little control.  We typically know what we are doing in that environment and we beam with pride when we do it well.  It’s especially gratifying when we can take all of the credit for our accomplishments.

No matter how competent you are and how many things you can juggle at once, starting a business is no time to try and go it alone.  I mentioned in my last post that you should seek out a mentor as you begin to get your business off the ground.  You should also be sure that you include your family, friends, and people in your community that wish you well.  Share your plans with them.  Get their input and feedback.  Allow them to just listen when you’re having tough times and make sure you celebrate with them when you reach milestones.

Everyone needs a cheerleader in this tough world of business ownership.  There will be long days and nights and a lot of lonely times as you pour your heart and soul into the business of your dreams.  Everyone else may not be as committed to your dream as you are but, those who love you will support you and cheer you on.  Don’t try to be the superwoman that you are and do this alone.  Be sure you include your parents, siblings, children, and best friends in your entrepreneurial endeavors.

You’ll be glad that you brought someone along for the ride, whether it’s a shoulder to lean on during the rough days or someone to share a toast with during the celebrations.  Having a support system in place will make the journey a little easier and reaching your goals a little sweeter.  Have a great weekend!

Tags: family, family reunion, friends, Starting a business, Startup Tips, support system, 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