I am currently in the "pre-startup" phase of a small business venture that I am highly motivated and inspired to pursue. I have done all the lessons on the SBA.gov website and am currently researching other resources such as SCORE, what/how competitors are doing/offering/pricing and have begun doing a little market research in the form of online surveys.
I am looking for a small business coach/mentor that can help guide me toward success. Passion drives me, not money, although I do plan to create a profitable business. If you can add any value, hints, tips, tough questions, reality checks etc., please do so. Thank you for taking the time to read this.
Answers
I am not sure this is an appropriate answer, because your question doesn't state it, but the title implies that you might be talking about a Life Coach business, so just in case...
Make sure you know the occupation licensing laws in your state. Life Coach is not a licensed occupation in New Hampshire - so anyone can call themselves that with any experience/certifications/lack of certifications. However I believe it is a licensed occupation in some states, in which case you would need to go through their licensing process (typically meeting a certain set of criteria, and applying through a board.) Licensing occupations intent is consumer protection.
As a 35-year small business owner in the IT Consulting field, I may have some advice to share. Please let us know what your product will be and a little about your competitors.
Stephen,
As a small business owner myself, I wish I had known about APTAC. Eventually, I heard about it and am lucky enough to have been accepted into to the program here, in Houston. Not only will they help you go after government contracts as a veteran-owned business, they will also offer PRICELESS guidance on how to establish and grow your business intelligently and effectively. The most amazing part: IT'S FREE!!
Check them out at: http://www.aptac-us.org/contracting-assistance/
If you have any additional questions, feel free to reach out.
M
Hi Steven,
No matter what direction you go in and no matter who guides you I would keep this in mind:
1- Ask yourself "what makes my business different from my competitors"
If you aren't different or offering something different then you are just another "me too" and will probably fail.
2- Are the differences good or bad?
Will others see the differences as a negative or positive? It's not what you think that counts but what others think who will use your services.
3- How will I market my business without going broke?
Advertising, trade shows take a lot of time and money. Can you find other ways to market your business that you will be able to afford in the start up?
4- Who will I market my services to
When I started my business 30 years ago I looked at my biggest competitors and saw who they were going after and decided to go after the 80% they were ignoring. Worked very well.
5- Can I survive the start up and do I have enough $backing$ to see it through
It took me 3 years to show a profit. My wife worked full time and I worked part time ( in another job at night) until our business took off. 18 hour days, no vacations, no new cars or anything else and a lot of stress. Be ready for it.
Good luck.
Steven, it is not how motivated you are . . . it is how many people will be motivated to buy what your business does or makes. My stuggestion is to go to SCORE at www.score.org and to "find a local chapter" tab, put in your zip code. You'll get a list of the closest chapter(s) where you will get FREE counseling for help in startin yout business.
Hi Stephen, I might be able to help get your ideas focused in a way that will appeal to potential clients.
I'll need some more info on your plan so give me whatever you're comfortable exposing at this time. I'll get back to you with some thoughts and recommendations.
Bob
Your Answer
Please log in to answer this question.