So you think you are a crazy being an entrepreneur ? (part 2)

25 08 2009

4.-I-m-the-king-of-the-world!_imagelarge“I’m king of the world”

Entrepreneurship is quite a roller-coaster ride. Going from the top of the world to the bottom of the sea can happen in a sudden shift, specially in the beginning!

In this second post we’ll see where you are and what to do to prevent sailing a sinking ship

Excerpt from the article from Pam Slim

Square Two: Dreaming and Scheming

Description: Once you get more comfortable with your shift in identity, you begin to brainstorm a bunch of different business ideas and scenarios. The sky is the limit as you imagine yourself as a software genius, media tycoon, or rich inventor.

Mantra: There are no rules, and that’s okay.

Recommendation: Don’t edit your imagination. Run wild and think up new ideas for products and services. Don’t worry if they don’t make sense, or that no one you have ever known has ever been successful at it. The important thing is to brainstorm as many possible ideas as you can and gather lots of data from different sources.


The coaching:

When you have reached a “closing” with the Just Over Broke market, when your brain is boiling over with ideas, when all you see are opportunities, when all you breathe is freedom, sit down for a moment and try this.

Write a letter, dated 2 years later. You write it a the present tense. Using the “Magic Wand” (what if you we’re sure to succeed), you transport yourself 2 years from now. Writing to a friend you haven’t seen in  along while, telling him\her where you are, what you have, what you do, what you have accomplished, so on and so forth.

From there, you work your milestones backwards. Where you have to be in 18 months, in 12 month,s  in 6 months. It will give you a set of beacons to guide your decisions. Those miles stones are the general direction. Just make sure there is some kind of possible alignment between those milestones. Try to align the planet (so to speak) to get maximum “attraction”.

Remember to shoot first, aim afterwards. As I said before, when you start, there are no successes or failures, there is only feedback. It’s what you do, how you react to that feedback that will keep you moving forward.

The rest is the “put your money where you mouth is” attitude. Get an accountability partners (coaches can be ruthless ones), and keep moving towards your dream, towards what you wrote in that letter.

The coaching will put emphasis on short term marketing tactics. Working on getting those first clients, the “evangelists” that will talk about your product and services to anyone they meet, that will talk about you in their social media groups. Their feedback will be paramount on coming up with upselling and crosselling that work for your core product/services. It’s from that base that you will develop a “unique customer experience” (instead of a unique selling proposition) Your coach will help you keep an open mind on tweaking you product/service to fit the market.

Conversation will revolve around the fit between “you” (your values), your “ideas” and the environment.

So you think you are crazy being an entrepreneur ? (part 1)

24 08 2009

iStock_000001419386XSmallIn her excellent post “You’re aren’t crazy you’re just an entrepreneur” for Open Forum, Pam Slim quotes Martha Beck.

She talk about the four stages of an entrepreneur.

Let’s look at them and how coaching can help

Square One: Death and Rebirth

Characteristics: This first stage of change happens when you consciously choose to move from employee to entrepreneur. Nothing is familiar anymore, and you grasp to both feel normal and explain your new work identity to others.

Recommendation: Stay focused inward, on your own insights and creativity. Exercise, eat right and stay grounded. Don’t worry about figuring everything out at this stage, just pay attention to how you feel, and stay open to possibility.

The coaching: It’s easy to get in information overload at this stage. So much stuff to think about. The fist phase of coaching has to be centered on “why” you chose that business, that way of “‘earning a living”. Making sure a purpose is driving you, energizing you. filling up your “energy tank”

Second phase, It’s also a moment where it’s easy to loose a lot of energy doing everything and being everywhere. Working on monitoring that loss of energy and making sure short term goals keep you in “focused action” and celebrating small victories. “Staying open to possibilities” means to “shoot” with confidence because you are looking for feedback. The feedback will help you “aim” better.

Third phase: It’s the time to put in place the “rituals” that will ingrain to good habits necessary to succeed. Either getting rid of bad habits that prevent you from moving forward; bad habits that are constraints, bad habits related to unproductive beliefs. Or, developing good habits to adopt to make sure results will be showing!

The coaching conversations will make sure you stay on track, on purpose!

Stay tuned for the next steps…