So You Want To Start A Business
So you want to start your own business but you’ve got all these excuses about how because you’re single, you couldn’t possibly do it alone. Well, we spoke with Silvia Johnson, CEO of Outside The Cubicle about being bold and taking a stand for yourself to do what you love. “Creating an ideal business for you is that absolute intersection between what gets you excited, what your skills are and then what the market will actually pay for,” says Johnson a former corporate HR professional for high tech companies who worked as a consultant before transitioning to a business built around her true passion -- helping women entrepreneurs.
“The 2nd component is what I call the entrepreneurial mindset. Even if all you want to do is replace your corporate salary or make whatever your number is, whatever size that is. You have to actually think like an entrepreneur in order to sustain that and continue to weather the storms long-term.”
Using her Thriving Business model, here are the top 5 things single women need to consider in order to build their six-figure business:
1. Focus Your Inner Game. The most important step in launching a business is empowered thinking, that means having your inner game together so that your thoughts are focused on your goal. Johnson’s single clients have told her: I can’t do it without a 2nd income; or My life savings is going to disappear and I’m going to end up a bag lady; or If I’m a successful business woman then I’m not going to attract a man. “That’s just not true. A husband is a false safeguard.” Get aligned with your mission and tune into the stories you’re telling yourself that keep you stuck. If there are too many oars in the boat and they’re not rowing you in the right direction, throw them overboard.
2. Be clear about what’s important to you. Corporations have missions, vision and values for a reason. So as an entrepreneur you need to decide what your criteria are, what you value and and use that information so you stay grounded and won’t get lost or easily influenced by all of the junk that’s out there. More importantly, who is this business for? Who does it serve? “When it’s a ministry, a mission that you’re called to it, that this is what you’re meant for, it becomes much easier to go through the rest of it.”
3. Get Clear About Your Finances. Grab the bull by the horns and don’t get freaked out about the numbers, just make sure you know what they are. If you have a nest egg and you’re in it to win it, not having another job to support you is a really good forcing mechanism because you have to make it work. And don’t worry about the gap on your résumé. Since most people find jobs through networking, if you were a good employee, the right referral will get you another job if the time comes.
The truth of the matter is that 20% of your efforts yield 80% of the results
On the other hand, if your finances are a disaster, get your financial house in order first. Keep your job to support yourself while you start your business on the side. You may also have to roll your 401K into a self-directed plan and tap into it but only do that if your mindset has you truly committed for the long haul and to paying it back.
4. The 80/20 rule. Being in business isn't about creating a to-do list that is 10 pages long and checking things off. It’s not about being busy. What gets you to your money and time goals? “The truth of the matter is, that 20% of your efforts are yielding 80% of the results. So even for someone who wants to support their business on the side, guess what if you’re focusing 20% good efforts, effective efforts moving them forward, it will yield 80% of the results.” If you’re already in business or half way there stop telling yourself you don’t have time: reprioritize!
5. Find Support. Sometimes being in business can be a lonely haul so find a mastermind group that can support you. Go to networking events with the intention to find other savvy single women who are going to succeed. Call it in. “We as women very much can set our intention of what we want to attract.” When your fears and demons rear their ugly head, you’ll have people going through the same thing as you who will talk you off the cliff and hold you accountable to your dreams. But remember, you’re only as good as your weakest group member, so set up checks and balances – just like you would in the corporate world – to cut the members who aren’t performing loose (in a loving way).
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