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Is Fear of Failure Holding You Back?

CHuntly

You have your fabulous business idea, you have your goals written out, and you have written a killer business plan. The next step can be the most daunting one when it comes to launching any business – you have to tell people about what it is you do.

Once you start marketing your business one of three things can happen:

  1. You are an “instant” hit – it looks like you are going to meet or surpass your goals.
  2. Nothing – no one seems interested in buying what you are selling, or perhaps you aren’t reaching them in the right ways.
  3. Your audience vocally doesn’t like what you are offering – this is pretty rare unless you have completely misread your audience.

Often, for an entrepreneur, the fear of failure can hold you back from putting together the best marketing strategy you can. You are afraid that if you put yourself out there completely you won’t be received well. The best way to get over your fears is strategic planning and focus.

I know what you are thinking…  I read this blog for THAT?! As simple as it might seem, the one thing that gets pushed aside is great planning. You may have a lot of great ideas for a marketing plan, but is it a full strategy? And do you have a plan to keep yourself on track?

Here are 5 things to consider to help get over the entrepreneurial fear hump and get your marketing strategy in order:

  1. Have you considered your target audience’s needs and behaviours? Your audience should always dictate how you market your business. For example, if you are targeting an audience that isn’t very tech-savvy, that Twitter Q&A you have planned is the wrong place to invest. You may want to consider more traditional tactics like direct mail or event-based marketing.
  2. Do your selected tactics fit within your overall business goals? It’s easy to get caught up with what your competitors are doing or the latest and greatest technology that is on the market, however you should take a step back and consider those goals and objectives in your business plan. If your goal is to become an industry leader in your field but you hadn’t considered a strong content marketing or PR plan, then you should reconsider your planning.
  3. Focus is your best friend. It is easy to look at all of the things you have to do and find smaller, less important tasks that you “just have to” complete first. While cleaning out your junk drawer in your desk can probably wait as well, I am talking about all of the things that can derail a great strategy. For example, you have set out to market your business on Facebook, Twitter, and Instagram, but you heard about how neat Snapchat is and you thought you would “just set up” an account. Before you know it, you have spent half a day on something that you hadn’t planned on.
  4. Are you evaluating your strategy on a regular basis? Changing your original strategy isn’t a bad thing as long as it comes from a strategic evaluation of what is working and what isn’t. If you aren’t getting the traction you expected from Facebook, maybe you should consider a different social channel or focusing your time and resources into a different strategy altogether. It’s important to track the success of your efforts so you can look at your success over time and tweak your strategy as necessary.
  5. Are you trying to be an island? This is a huge cause of entrepreneurial fear (and failure). You may be the biggest champion of your own idea, however, sometimes it’s good to bring a third party in to look at your strategy with an unbiased eye. You don’t have to hire someone to do your entire strategy and execution for you (your budget might not allow for that!) but you can work with a consultant or coach to make sure you are on the right track. Your hesitation in starting your marketing outreach could stem from not feeling confident in your strategy and this will help with that.

As a business owner you should always give yourself enough space to take a step back, take a deep breath, and get back to the basics of what makes your business a business – your idea, your goals and objectives, your brand story, and your target audience. As long as you have a good foundation in the basics, you can approach everything else with confidence.

Candace Huntly is the Founder and Principal at SongBird Marketing Communications, an award-winning agency working to take organizational and individual brands to the next level. With a passion for all things related to creativity and strategy, she specializes in business intelligence, marketing & branding, content strategy & development, media & influencer relations, and social media. Basically, if you need to put your brand, product, or cause in the public eye, she will find a way to do it, while making the approach unique to you.

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Four Common Mistakes Entrepreneurs Make

Praveeni

Being an entrepreneur is a challenging and rewarding experience but it’s not without its pitfalls. Although a business idea may seem profitable  it may not always be the case and in business as in life failure (along with success) is inevitable. Everyone makes mistakes but it doesn’t mean success won’t come your way eventually, here’s a quick look at the 4 most common mistakes entrepreneurs make:

  1. Overvaluing their product/company
    Most businesses start off with funding in the way of a business loan or investors. Although there are many sources for investment, funding may be hard to come by if you’ve over valued your company. If you’ve ever watched the show Dragons Den you’ll find that many entrepreneurs do this,; not maliciously but because they believe so strongly in their product or idea that they fail to see it’s realistic value.
  1. Overly diversifying product offering
    As a new business owner it’s easy to get caught up in expanding your product offering as your business grows. Though it’s good to provide a range of choices, overly diversifying business services or products can lead to dilution of your company’s mission and vision. It’s important to take a step back and look at why you started in the first place. In most cases a few key products will drive sales and increase business, instead of offering new products work on improving the ones that are profitable.

 

  1. Calling themselves “experts”

The term “expert” gets thrown around way too often in the business world. These days everyone’s an expert at                    something, or so they say. Some may argue that marketing yourself as an expert gives clients the impression that no          one else can provide the same level of service.  However labeling yourself as an expert can limit your ability to learn            and grow as an entrepreneur. The key is never to be the smartest person in the room; this doesn’t mean downplay              your knowledge but rather be open to increase your knowledge base.

     4. Spending marketing dollars too early

Marketing is tricky as it can help increase and decrease sales. Many entrepreneurs end up spending too much money         on marketing campaigns that have no goal or focus and thus do not result in profitable returns. Simply building brand           awareness is not enough. In order to build awareness you must first build a brand, and this can only be achieved                 through clients and sales. Although it’s tempting to run ads or start accounts on all the latest social media channels               first focus on building a clientele, without clients you have no brand.

Praveeni Perera is the CEO and co-founder of Professional Edge Consulting a corporate training company based in Ottawa offering training and coaching services to clients around the world.  She can be reached via Website, Twitter, Facebook or her Blog.

Taking the leap into the world of Business?


yvonne

Are you thinking of starting your business? If so, join the millions of people who at one point or the other in their lives have considered whether or not to start a business. The thought of having a successful business, being your boss or doing something you are really passionate about sounds very appealing, right? And these, amongst other reasons are why people leave their jobs and decide to start their own thing. The familiar question is; do I take the leap? And if so, when and how do I take the leap?

One of the greatest challenges for some people in starting a business is the challenge of leaving the security of a paid job. For some it is the issue of choosing the right idea to turn into a successful business. Well, these two challenges can be easily overcome.

First and foremost before venturing into you own business, undertake some research on how viable the business idea(s) is. Are there potential customers? And what is the potential ROI (return on investment)? I’m sure you’d agree with me that it is not very wise to invest your time and money into a business that doesn’t seem viable on paper, or give up your job to start a business based on a whim. However, many people do.

Secondly, an approach to starting a business without giving up your Job is to actually undertake a pilot while still working. And believe me, doing this will require the skill of being able to multitask. To undertake a pilot means doing some test marketing in order to test the market or gauge how responsive people are to your product /service. This will enable you make better decisions on the idea and what to do next. I’ve got to warn you though that this could prove to be hard work juggling a business with your fulltime job, most especially if you have a family to take care of. It requires time management, focus, perseverance and more. These are only some of the requirements you will need both in the short and long run if you want to have your own business. So, as opposed to immediately taking a leap, consider taking long steady strides.

Having looked at your business idea and undertaken some research, you may decide the business idea is viable and you’d like to take that leap into the business world. There are a few basic things that you’d need to do in order to take off. I very much believe in building solid foundations that will allow one to build much taller and weatherproof buildings. And to build a solid foundation you need to get either some business advice or coaching and write a plan.

The word ‘Business Plan’ seems to be such a dreaded word, many people think of it as long-winded and unnecessary. However, I promise you that it is one thing that will need doing either now or later for a more successful business, better now than later I say. Planning and building the concept in your head is not enough, pen it down on paper. The saying goes, “Write the vision and make it plain, that those who is it may run with it” and that includes you, your potential business partner or financiers. Writing the plan takes you through the process of developing and refining your idea, it is also very much needed if you plan on raising capital externally. Please note that it is not enough to just write a business plan for the intention of raising capital, you should also use it as a blueprint for successfully managing your business.

Another challenge often faced in starting a business is Capital. Sometimes, the bigger the idea, the bigger the capital required. Don’t let this hinder you if raising capital seems to be your own challenge. Instead, think out-of-the box in identifying ways to raise the capital required. Look for avenues to cut back on the initial capital required, some ways of cutting back on capital includes; offering trade by batter or buying second-hand instead of new.

The following options are available to you and all except for personal savings will require a sound Business Plan; Personal savings, Friends & Family, Bank loan, Government Initiatives, Private Investors and Venture Capitalists.

Having researched the idea, written a ‘Plan’ and raised the required finance, you are all set to take off. Nothing Ventured, Nothing Gained. Take the leap if you feel very strongly about it, but plan and prepare for it.

To learn about Yvonne’s latest book on Changing your Mindset for greater results, visit http://www.oliveblue.com/changeyourmindset/

Yvonne is an Author, Speaker, Change Consultant & John Maxwell Leadership Coach who is passionate about working with Individuals, Entrepreneurs and Organisations to help implement change they want and achieve their goals.   

She can be reached at: www.oliveblue.com . www.facebook.com/oliveblueinc . www.twitter.com/oliveblueinc.www.youtube.com/ChangeYouWantTV

Why It Is Important To Keep Growing

 

 

Malene Jorgensen

 

 

As business owners, we start out with a business idea. That business idea gets altered, changed, developed and broken down during the business planning process. Here, we test the idea, examine our concepts and really figure out if this is indeed a viable business idea.

But part of the business planning is also looking at how the business idea could develop over time. We may start with one product or service, and be so invested in this one idea that we can’t look at other ways to build the business.

It is important to keep developing your business brand, because any given industry is changing constantly. New software programs are introduced, new business tools become available and your customers may want new things. It is important to have ideas as to how you can develop your business down the line.

While this planning may not be something you are thinking about as you start out, it is always good to have some ideas brewing. Like a business plan, these ideas will change with time. What you may see happening during your first year in business may completely change once you reach the third year.

With a plan in mind to grow your company, you may find yourself needing more experience and education. And self-growth is the key to running a successful business.

So – get going! Create a long list of ideas to assist you in future growth.

Malene Jorgensen is an entrepreneur, author and speaker. Jorgensen is passionate about online content, blogging, online business development and e-commerce. She owns an international media publishing company and a design studio. Jorgensen has written several books that are sold in over 50 countries. She is also obsessed with coffee and Twitter. You can reach Malene Jorgensen at Website | LinkedIn | Twitter | Instagram

Why We Keep Getting Limited Results, and What You Can Do Differently Starting Now in this Year!

yvonne

Have you ever wondered why you’re not getting the results you want despite doing your best or following the ‘guaranteed’ formulas and products everyone else is using and getting results?

Do you feel procrastination, lack of time, fear of failure or lack of finances is holding you back?

Or why when you have been working so hard to get promoted or kick-start your business idea, but still not happening?

Or you can’t seem lose weight and keep it off, yet others are experiencing great results?

It may not be what you think!

I too have struggled. I know the feeling. But thankfully my outcomes are now different because of the simple but foundational principles I was fortunate to apply, and I began to see fantastic outcomes; getting multiple promotions in my career, kick-starting my business and seeing the results and momentum build, and the hardest had to be losing up to 90lbs.

I have discovered from my life, and working with many individuals and organisations that a significant part of getting our desired results is not in finding the solution to the problem or knowing ‘how-to’, but lies with the person and mindset of the person who has the solution.

Have you heard the story of the two salesmen who were sent to a foreign place to sell shoes? The first salesman arrives and sees that nobody on the island wears shoes, and he immediately sends a message back to the office saying “Dead end. Nobody wears shoes here”. The second salesman arrives, sees the same situation and immediately sends a message back to the office saying “Magnificent opportunity! Loads of shoes to be sold”. What was the difference between these two salesmen? Mindset!

Yes, their mindset. Mindset is what differentiates two people with the same opportunity. Mindset is what allowed the likes of Oprah Winfrey, Walt Disney, Michael Jordan, President Barack Obama and Albert Einstein recognise opportunities that others did not, made them persist, and succeed in the face countless rejections, adversity and opposition. Mindset is also what finally allowed me achieve success using existing knowledge and ‘how-to’ information available in the public domain.

A right mindset is foundational to us getting and exceeding the outcomes we desire; it will turn things around and help us become creative in finding solutions to barriers such as procrastination, overcoming fear, finding the time and resources we need, and more.

In my book coming out soon on mindset, I go into more detail on mindset principles and examples that individuals like Walt Disney, Michael Phelps presently regarded as the greatest Olympian, and Nick Vujicic, born without arms or legs, have used to achieve significant success and how you also can easily apply these same principles to your specific situation and take your outcomes from good to great!

Please leave a comment below: Have you been successful in achieving your goals, what worked for you? Or what are you currently struggling with, and what barriers are you coming against?

Comment below. I would love to hear, discuss and share insights with you.

 

To learn about Yvonne’s latest book on Changing your Mindset for greater results, visit http://www.oliveblue.com/changeyourmindset/

Yvonne is an Author, Speaker, Change Consultant & John Maxwell Leadership Coach who is passionate about working with Individuals, Entrepreneurs and Organisations to provide the tools and help implement change, drive results and achieve their goals.   She can be reached at: www.oliveblue.com . www.facebook.com/oliveblueinc . www.twitter.com/oliveblueinc.www.youtube.com/ChangeYouWantTV

 

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