Ready to quit your job? Do these 10 things

I have written about this before (5 things you need to do before you start a business), but it is always nice to remind you about some of the things to consider when you are ready to quit your job. Many of my clients are still working full time while building their business and they are overwhelmed and anxious about making the leap. Issues of time management and fear abound and so many seem to be drowning while trying to decide what is the next step.

I also made this huge leap just over 1 year ago, so I wanted to share some things to consider before you did the same.

Choose a date/Set a goal

This is the thing most people skip over and then 5 years later are still planning to leave their job. Setting a date or a deadline for when you want to make the leap not only keeps you accountable but will help you develop strategies specifically to making this dream a reality. A deadline gives you something to work towards. So instead of I want to leave my job soon, get specific about the date. I want to leave my job and be running my own business successfully by January 5th, 2018! Get that specific so you can visualize it and then get into action to make it happen

Do your research

Research, research and research some more. Not because it sounds like a nice idea to you means it will work. Ask questions; read up about your industry; reach out to experts in your industry; conduct surveys and polls; sample your products and services. Research is key to the launch and development of your business because you do not want to waste time when yo finally go public. You want to get most of it right (not saying to be perfect!), but you want to be clear of who you are selling to, how  much they are willing to pay, where they can be found and exactly what they want. That happens with research! Research is a continuous process in your business even after you have launched. Listen to ‘Why Market Research is so important’ in one of my videos.

Test the market

jessica-guzik-125883- food samplesThis ties into your research. After you have done the research, test out what you have learnt to see if it meets your clients expectations. Sample your products; do beta testing of your courses and as you test, keep asking for feedback so that you can fine tune your offering.

 Invest in yourself and your business

You HAVE to invest in your business. This looks different for different people. It may mean taking an online course or buying books to read, or attending workshops. Whatever method works for you is fine. The most important thing to note is that you should be investing in your education if you truly want to excel in business. Because technology is making everything so accessible and the buying habits are always evolving you need to be on top of what is going on. Invest in your education. Invest in your business by hiring people to do what you cannot do like graphic work, website development and accounting. As you are still in a full time job, use part of your salary to invest in your business to help it grow quicker. Take baby steps but please take some steps to get it done.

Build your audience

Who said you had to wait to ‘launch’ before you build your audience? You can start building your audience from day one just by talking about your business and doing sampling for example. In fact it is from this audience that you will get information about if your product or service is really needed. Start with people in your circle who you know need your services and ask for referrals after every ‘job’ that you do. Keep building your audience as you do research and test your products so when you are ready to make your big launch you already have income coming in and a steady flow of customers who know about you and can recommend you to others

Understand your money

You and your money should be best friends. Too many entrepreneurs start off by just wanting to make some money. Even if you are simply trying to earn $2000 extra a month, you need to know the exact figure you want to make. Create a budget of all your expenses presently to determine how much you need to make in your own business so that you can continue or improve the life you are currently living. Know your figures, understand how a budget works and track how you are spending money on a daily/weekly basis so that you can take charge of your finances. Money Management is essential for the success of your business. Knowing how much you need to set aside as a cushion to keep you steady until you business takes off is so very important.

Know your legal requirements

This is something that many overlook especially when now starting out. There are stark differences if you are registering as a sole trader or an llc; whether you are VAT registered or not. There are many legal requirements you should know about as you start and grow your business. Reach out to the relevant authorities and get educated on this. Even simple things like the images you use on your posts or blogs come with legal requirements. In order to protect your business, you need to understand how these things affect your own business.

Surround yourself with like minded people

group photoNot everyone will understand your dream. They do not have to…it is your dream not theirs. But it always helps when you are surrounded by like minded people right? Spend more time or find more people who are in business or are starting their own business to hang around. This way you can feed off each others energy, lean on each other and hold each other accountable. Most times people do not understand the late nights, your refusal to go out for drinks or your obsession with your business because they themselves are not in business.

Create a schedule

I hate to say time management but I know that is what most entrepreneurs understand. It is about managing yourself! You have 24 hours in the day, so use it wisely by creating a schedule that allows you to still build your business. Especially if you are still working a full time job, then give your boss your full attention during work hours (wouldn’t you want your staff to do the same?) and then decide what you are going to do with the next 18 hours. How many hours to sleep, spend time with family and friends, relax, study, do research etc. You are in control so you create a written schedule that makes sense to your lifestyle. No 2 schedules will ever look alike. Your schedule should be flexible to allow ‘life’ to happen but you should have an idea of what each day would look like for you and what you would be actively working on each day in your business.

If you have not found that space as yet, then come on over to Dynamic Business Strategist where we have over 2000 entrepreneurs from around the world growing their business.

Stay focused/consistent

Finally, stay focused and consistent. There will be days you feel frustrated and overwhelmed. That is part of the journey. But after you have picked yourself up, get back on the saddle and keep going. You need to understand WHY you started this journey and be very clear of where you want to be. Keep your eye on the prize and keep at it until you get your prize!

 

It is not about being perfect but about being prepared. I know this can seem daunting and scary but that is why you have me, your business coach. If you are ready to put these things in place, then let’s work together to make sure you are doing it right, then contact me and let’s get started. 

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Stay connected to get more sales

I know the one thing most entrepreneurs have in common is the need to increase sales. That is the number 1 request I get when I start to work with a new client. And many of them expect me to advise them to do a big sale, create a flier and post it all over the place and then they are very disappointed when I give them my simple answer. To get more sales you need to stay connected. Simply put, it means that you have to be at the heart beat of the action and become part of the conversation. Here are some simple ways to stay connected to get more sales:

1. Respond to others.

Spend at least 45 minutes every morning and evening responding to other people’s questions. I know this may be challenging so some but it is very effective to get eyes on your profile. You see every time, you comment or add your opinion to some one else’s post, if they don’t know you they will check your profile. Others will start to respond under your respond and more than likely also check your profile.

 

2. Ask relevant questions.

This forms part of your market research (something we spoke about in an earlier post- Are you doing your research). Asking questions will help you get a better understanding of your audience and allow you to interact with them even more. Make sure that you also respond to their responses so the conversation continues to flow and you build rapport. Research is a key component of building your business as I discussed here in my video- Why market research is so important  

 

3. Share valuable information on your social media platforms

that you know your ideal clients want. It may be an article, a video or some training. But you are not just dropping a link and running…oh no…you are sharing and telling them why you are sharing it and asking for their opinion about what you are sharing.

 

4. Give them a reason to connect.

This is where a great opt-in comes into play. An ebook, training programme, swipe file or cheat sheet etc are some great ways to connect and get more sales. By giving them what they want through an opt-in you add them to your email list and then you can continue the conversation after they have received it. Just make sure what you are sharing is what they really want and continue sharing more after they have opt-in. I am ready to Crush my Email

 

5. Speak at events or host an event.

This is the tried and true way to stay connected. Speaking to an audience is going back to basics before we had the internet and it is still one of the best ways to stay connected. People remember what you say and the feeling they had when they hear you share your story. Connecting with clients on this level is a great way to get more sales because it increases your level of authenticity. group photo

 

6. Reach out to clients

New and old. Make it a habit to stay connected to clients even after they have bought from you because there is a higher chance that once they were satisfied they would buy from you again. Whether by phone, email, text etc, staying connected with people who have already done business with you always leads to sales, referrals and more

 

Connecting should be a way of life for any entrepreneur because it is part of the life blood of your business. It is tied to your visibility and your sales. It is tied to your marketing and promotions. As an entrepreneur you have to stay connected, continue to build more connections and stay relevant to your audience as you continue to grow your business. Connecting is the long game to your own success.

 

Still looking for a great way to connect? We are waiting for you in here.

private fb group- DBS

 

Carlos Muza

4 ways to increase your revenue

Everybody wants to make money in their business right? Either that or they are running a charity. But making the money always seems to be the hard part for many entrepreneurs because we do not talk about money or understand how money works (but that is for another blog post!). There are some tried and tested ways to make more money in your business. I want to share with you just 4 ways:

1. Look at what you are offering and determine if the prices need to be raised. (Yes you will lose a few clients but you will gain better clients in the long run!) Do that immediately. Raising your prices means that you will attract higher paying clients who value what you are selling them. Do not get caught into the thinking that charging less will give you more clients. In fact the opposite is true. Raising your prices also means you may be able to work with less people and still earn the money you want.

2. What product or service are you presently offering that sells the most? Sell more of it by talking about it more, give your clients more info about it and get more people to buy it. It is your number 1 seller for a reason. This means you have to be very intune with your clientele and your inventory. The product that sells the most and flies off the shelf fastest is the one you should be producing the most of. If you make 100 soaps and they all sell out in 1 week and you have a line of people trying to buy more, then you need to make more soaps and sell more of it every week (raise your prices!)

3. Are you offering enough things? Meaning, are you selling more than 1 thing at a time? It is a myth that you should be selling 1 thing at a time. Sell as much as 2 or 3 things at a time so you have multiple streams coming in and you are not depending on just 1 sales. When you are running ads, sending out emails or doing videos, it is okay to sell more than 1 thing because your clients are at different stages of the buying process with you. Some need a low end product, some a mid range and some a high end. You should be selling all of them. They key is to know where to sell each one of these things. Once can be sold in your fb group, another via your email list and still another in collaboration with another entrepreneur. Do not depend on the sale of 1 thing to give you the revenue you desire.

4. Offer weekly or monthly package deals. So instead of a month by month sale, offer a 3 month package which they can pay over a period of time. That way you can guarantee money is coming in even 90 days from now. This works well especially for service providers like consultants. For hair dressers and nail techs for example ensure that your clients book their next appointments in advance so you are guaranteeing that you are always booked. If you sell a product, you know how long it lasts on average, so ensure that your strategy includes a follow up system so they buy another item from you before their last bottle is completed. And combine services or products. This way you get a larger revenue jump than if you were trying to sell each item individually.

Now that you have these 4 steps to take, let’s commit to implementing them in your business today!

Leave a comment below and tell me which one you plan to implement.