Small Business tips, ideas and thoughts. Putting my 20+ years of experience to work of you.
Tuesday, February 9, 2016
Give The People What They Want....Wait What Do They Want?
Everyone always says that the best way to be successful is to find THE solution to a problem. While this is logical how do you determine the problem, how to know if the problem is a big enough concern that people will pay for your solution, how to respond quick enough with the answer before someone else does or before those demanding a solution have moved on.
These are the daily dilemmas of entrepreneurs. Historically we've been told to write a 40 page business plan, get funding, make a billion of your widget, get it to market or your car's trunk and sell, sell, sell. The problem becomes the cost of production, marketing, physical labor and extensive effort when you've really still not answered the question of do the people want what you're offering.
In this instance I agree with the Lean Startup movement. Advice that I've given to my clients for over a decade is to make sure someone wants it before you invest your life savings into it. Quickly take your salsa, widget, app to a test market. Set up a stand at the flea market, church bazaar or networking event and see who puts money on the table. See what price points people will make the purchase. Study the customers who make a purchase. Ask them to share their comments and opinions. Send out a Survey Monkey.
Once you discovered the audience for your product and have actual sales data to share then write the business plan (40 pages still not necessary), seek funding if necessary, ramp up production and start considering the modification of said product that will keep you ahead of those who will soon follow you to market. Got an idea, get started, be honest about your successes and failures and be it as a Side Hustle or full time income let's go Make It Happen.
Shirley
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Monday, February 1, 2016
Merry Birthday! ...Are you Brave?
As Aldous Huxley put it, it's a Brave New World. December 23rd, 2015 I quit my guaranteed paycheck and job as the Assistant Director at BizWorks a local small business incubator to do my business 2nd Chance Consulting full time. I've enjoyed this role for the past four years.
While I was quite successful at it each new day I began to feel a bit of a fraud. A very frustrated, irritated fraud. Every day I got to help entrepreneurs navigate the treacheorous, yet invigorating, waters of owning their own business and they flourished or flopped accordingly.
I on the other hand only got to do MY business on Fridays when I was not in the office, at the crack of dawn (literally 2am) and the weekends. Watching others utilize my advise to bring their business success felt void when I myself had become an employee.
So, while my beloved BizWorks was embarking on changes anyway it seemed, correction it was, the right time to embark on my own adventure. So here I am. Today is Relaunch Day. Second Chance Consulting is fully back in the saddle again.
I have shown myself foolish enough and brave enough to command my own destiny and not as a preconceived embryo (read the book sorry it's 2016 read the Spark Notes or watch Divergent - it was close enough) but as the Master of my own fate. Feel free to join me for the journey... or are you brave enough?
Shirley
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