entrepreneur coach

Advice To New Entrepreneurs

According to the Small Business Administration, there are over 28 million small businesses in the US, 80% of which are self-employed or solopreneurs.

Approximately 85% of small businesses will not make it past the first two years, and approximately 85% of small businesses have no business plan. That number is too close to be coincidence. Plan for success. I have started several small businesses, and the two that were most successful were the ones that I carefully planned from the beginning. As a business coach, I see the lack of planning from my clients so much that I created a series of free “Planning for Success” Webishops (webinar/workshops located at www.webishops.com) to help entrepreneurs understand the importance of planning for success. Of course, things never go according to plan. So planning for obstacles, and ways to get around them, can help you succeed that much more.

female bartender entrepreneur

Best Entrepreneurial Traits

One of the best traits of successful entrepreneurs is the follow-through.

Some entrepreneurs are always out looking for the next great thing, but they sometimes forget to look at what’s right in front of them. As an example, an entrepreneur might be looking at a way to break into online shopping without realizing that the brick and mortar store they have could turn into a great franchise opportunity.

Resist the temptation to go in a certain direction just because it’s what’s hot right now. Doing one thing to the best of your ability will generate much more success than doing several things in a mediocre way.

Motivation

I’ll Get Motivated Later

Motivation is vitally important to success.

Success generally happens when a person gets unstuck, and it is the motivation to get unstuck that can start a person down the right path. But motivation itself will not make a person successful; it is taking action on that motivation. The reason why many people who go to a motivational seminar get pumped up, but three days later are no better off than they were is because they did not take action on the motivation.

So the next time you start to feel motivated, act on it. And determine what you can do to stay motivated so you can continue to take action. Did you see something on TV that gave you a great idea? Shut the TV off for a bit (no, you won’t die). Write your idea down, and write down three things you can do to work toward your idea.

THEN find one thing you can do within the next 24 hours to take action on that idea. Accomplishing one small task will give you a small win, and that may help you get motivated to work on the next task.

And be sure to watch the Success Planning Series of #Webishops at www.webishops.com.

Life coach

Run Away!

Fear is one of the most powerful motivators to humans. We “live in fear” sometimes, and advertisers know that producing fear can stimulate buying. the fear of scarcity is common in advertising.

But fear in life, or in business, is counterproductive. Fear will block success, and the path to success is overcoming those fears.

This article in Entrepreneur Magazine is a good read on how to overcome fear, but there are some things I would add:

Point 1: This is good, but in order to face your fears, you need to see the reality of them. Don’t change a Chihuahua fear into a Rottweiler fear (yes, I like dogs), and don’t change a Rottweiler fear into a Hound of Hell fear. See the fear for what it really is. Chances are, that fear is a lot smaller than it seems.

Point 2 is spot on, but point 3 is just an extension. However, a good thing to do is to occasionally step back. I have the habit of finding a direction, laying tracks, and going down that direction like a supersonic train. But, sometimes it’s the wrong direction. Take pit stops, and make sure you are still going the right direction.

Points 4 and 5 are excellent. Never give up. The only way to fail is to not try. Look for my #Webishop on this.

-Dr. Ty

A Simple Tool For Success

There have been many studies on how our brain works, and how we remember. Most of those studies agree that we remember, on average, less than 20% of what we hear, but almost 70% of what we write. In this Inc. Magazine article, Tony Robbins says that writing something down will not help your memory, but will help your commitment to getting something done. And the commitment to persevere is a core value of success.

-Dr. Ty

Success Begins With Why – Success Planning Podcast #1

Why Do You Do What You Do? Why is the core of success. If you do not know why, your passion and determination can leave you quickly. Watch this Podcast by Dr. Ty and fuel your passionate Why! See the video at www.webishops.com.