Finances are important when it comes to running a business. I have had money and I haven’t had money, it is better to have it.
If you are not making money you will not be in business long. So, how does an entrepreneur reach their financial goals?
- Do something you are passionate about.
Money is not a strong enough motivator to sustain you over the long haul. Make sure you are doing something you love. - Get focused.
Focus in on what it is you want to accomplish in your business. Put these together and you have focused enthusiasm.
Focused enthusiasm is the main ingredient for entrepreneurial success. Here are some tips on how to develop focused enthusiasm.
Ask yourself 4 questions:
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How much money are you going to make in the next 12 months?
Get specific. Write down a specific number, not a range. How much money will you make in the next 12 months? It is difficult to focus on several different numbers, so get focused by being specific.
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Who is your market?
Who needs or wants what you are offering? (They are out there, you just have to find them.)
Without a market, you do not have a business, you have a hobby. You have to find your market. There are some people who could care less about your product or service. Let’s be honest, probably most people do not care about your product or service. However, there are some who do care. There are some who will pay for what you have to offer. Find those people.
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What are some creative ways to get your product to your market?
Use your imagination. The most powerful nation in the world is imagination!
How can you get your product or service to those who want it so badly they are willing to pay for it? You cannot answer this question until you identify your market. You will not discover the best way to reach your market until you get to know your market.
Be creative, use your imagination, and think outside the… on second thought, just throw that box away! You have a brain, you do not need a box.
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How much time and money you will invest in the business?
Decide if this is going to be full-time, part-time, or a hobby. Any option is fine as long as you are making the decision intentionally and not by default. Your financial goal will have to reflect your time investment. In other words, do not expect to make $100,000 this year if you are only investing four or five hours a week in your business.
The more money you want to make, the harder and smarter and longer hours you will have to work. Be intentional.
Remember, it takes focused enthusiasm to create success as an entrepreneur. Just being passionate will not a business make. You need to make some specific plans.
Get enthusiastic, get focused, get success!
I specialize in helping entrepreneurs, leaders, and other dreamers turn their dreams into reality. Those whom I have worked with have described me as an “inspirational motivator.”
I help clients address a lack of focus, self-confidence, and other roadblocks while defining their dreams, identifying changes they want to make, and discovering their passions. With more than 20 years of experience and a master’s degree in life coaching, my mission is to equip and empower clients to climb to their untapped potential.
Primary Specialties: Entrepreneurial Coaching, Leadership Coaching, Goals Coaching
Secondary Specialties: Ministry Leadership Coaching, Public Speaking Coaching
