3 Steps to Narrowing Your Business Idea

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I'm sure that you have multiple skills and talents that you can turn into a business, but the question is, how do you narrow it down to just one to start?

Here are 3 strategies I use whenever I'm considering several ideas:

1) Decide if this business is something you can see yourself doing for the next 7 years or more.

It takes a lot of effort to to get a new business off the ground, and the last thing you want to do is to go full steam ahead in the wrong direction.

Make sure that the business is one that you will truly enjoy working on for a long time. Just because you know how to do something, doesn't mean you want to do it.

Consider that it can take a year or longer to get your business fully established, and if you don't enjoy what you're doing, you'll likely give up when challenges come up along the way.

You want to be in this for the long haul, so take the time upfront to be honest with yourself about whether you are following this idea because it's something you truly...

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How to plan quarterly and annual goals for a successful year

 

What better time to plan to finish the year strong and plan for the upcoming year, than right before the end of the year.

In today's video, I share with you my exact process that I use to plan the goals for my business, both for the quarter and annually.

To summarize:

1) Set aside a date and at least a few hours that you can dedicate to focus on planning

2) Review your previous goals and reflect on your progress.  What went well?  What could you have done differently?

3) What are the 1-3 big action steps you can take to get you close to the finish line for this year?  

4) Using the reflections from step 2, plan out your 1Q for the upcoming year with no more than 3 big goals.  Brainstorm all of the tasks/resources you will need to make sure you are where you want to be one year from now.

Happy planning to you!

 

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The 5 types of start-up capital for new business owners

 

Starting a new business can be challenging, when you don't know where to find the money to get started.

In this video, I'll share with you why start-up capital is important for your new business and the 5 categories for you to consider to start or grow your business venture.

One of the most popular types of financing is debt, but there are other types that you might be overlooking.  

Depending on the kind of business you want to start and how much you need, there will be a type of capital that will be best for you.

Grab a notebook and pen, and get ready to take a few notes.

Happy financing!

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How to get past the fear of starting your own business

 

A common struggle that comes up for many aspiring entrepreneurs is fear.  It can have your mind playing all kinds of tricks on you and will keep you stuck if you let it.

I want to dispel the myth that in order for you to become an entrepreneur you have to be a fearless risk-taker, who throws all caution to the wind.

That is simply not true.  What you need is a combination of courage, with a good dose of faith in what's possible for you, to kick those fears to the curb.

Successful entrepreneurs take action despite the feeling of fear.

When I first left my Wall Street job over 14 years ago, of course I naturally had fears.  Fears like would this work out, and if it didn't, would I have to come back and look for a job.

However, I didn't let those fears stop me.  I stepped out on faith and trusted that this opportunity would not have appeared if I wasn't already equipped for it.  God doesn't give you more than you handle, no matter what it may seem like.

...

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3 Key Strategies to Change Bad Habits

 

When you want to change your bad habits and create good habits, it can feel like you're facing an uphill battle.  It may feel like you have no will power, but in reality, you just need to know the strategies to achieve results despite your willpower.

Recently, I've been reading the book, Atomic Habits, by James Clear, and have found the simple strategies he shares to be powerful levers for supporting good habits.

In this video, I'll explain my 3 favorite takeaways from the book that will make it easier for you to change your bad habits.

My 3 Key Takeaways:

1) Use environmental cues to support the habit you want to incorporate.

2) Track the habit that's most important to you.

3) Use the power of habit stacking to fight the natural resistance that we have to adding new habits to our lives.

If you found this video helpful, please share it with a friend who may also be on their own entrepreneurship journey.

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How to Build a Business with High-Paying Clients

 

If you’ve ever wondered how you could make more money in your business with clients who are willing to pay premium prices, then you are in the right place.

I've successfully built a lucrative business serving a segment of clients that may often seem unreachable, but it isn't if you know where to focus.

In this training, I shared the three areas you need to focus on as you build a high-ticket business that serves clients who are willing to pay you premium prices.

Building a business based on premium pricing is one of the fastest ways I know to build a six figure or five figure business quickly.  It can be the key to unlocking a business that's been struggling to make money.

These are the three areas that you must know and understand to build a successful premium service business.

#1 Your Mindset

Your mindset about what you believe you deserve and are worth is a large factor in whether you will have the confidence to ask for premium pricing.

Examine your beliefs...

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How much money do you need to start a business?

Today, I want to answer one of the top questions I get from aspiring entrepreneurs.

That question is, "how much money do I need to get started?"

If this is a question that's been holding you back from getting your business started, let's get that handled today!

I'm sure you've heard the phrase, it takes money to make money, which I definitely agree with. However, how much money it takes and whose money it is, depends on the business.

Here are my top 3 strategies to figure this out for your particular situation:

1) Determine whether you are going to pursue a product or service based business.

As a general rule, product based businesses tend to require more start up capital than a service based business, because of the need for materials and equipment to produce the product.

Personally, I'm a huge fan of service based businesses, particularly knowledge based businesses.

My luxury home design company is an example of a service based business that doesn't require a large investment in...

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How to Beat That Imposter Feeling

You might be surprised to learn that a lot of very accomplished entrepreneurs sometimes struggle with feeling like an imposter.  I've certainly been there at different points throughout my journey and you might be facing the same challenge.

The first thing I want you to know...

It's actually a fairly common experience, especially when you start to move outside of your comfort zone.

That's right.  The minute you decide to start building your business, charge more money, go after that high level client...this is when that imposter feeling can creep in.

It can feel like complete dread, wondering when you might get found out.

When I first started my career on Wall Street out of college, I remember constantly feeling like it's only a matter of time before they figure out I'm not like the other star analysts.  This feeling was despite, starting college early (I graduated HS early), having spent three summers working at the company, and graduating with a degree in...

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Figure Out What Kind of Business You Should Start

 

If you know you want to be your own boss, but you're struggling to figure out what kind of business you should start, then you'll want to watch this video.

Inside I share the first decision you need to make about the type of business that is best for you.  From there, I'll guide you through some key areas to think about to uncover what direction you should go with your business.

If you're ready to be your own boss, and get unstuck, then set aside 10 minutes to watch this video.  At the end of the video, I'll also share with you a couple of resources for you to go deeper on this topic.

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How to Easily Attract Your Ideal Clients

When it comes to marketing your business, most of the time it can seem like a constant struggle.  You might be trying to convince a client why they should work with you and it can feel like pulling teeth.

If you know how, marketing can feel easy and you'll naturally attract your ideal clients.

As a new entrepreneur, the first thing you'll likely want to do to get new clients is to network with potential prospects.  This doesn't have to just be offline, but can be online as well.

The challenge I see with most entrepreneurs however, new and experienced, is that they don't know how to effectively talk about their business. 

These are the people you meet at a networking event, and when you ask them what they do, they say I'm an "Accountant".  Now does that really tell you anything about what the person can do for you or someone you know?  No...not so much.

Here is the right way to talk about your business, that will not only tell people what you do, but most...

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