The decision to hang a shingle and start a business can be one of the most exciting choices that a person will ever make. Few experiences can match the thrill of opening your own enterprise and crafting it your way, in your vision. Yet, becoming an independent provider can also present many risks, not the least of which is fiscal viability.
Whether you have worked for years as an employee or are just starting out, there are certain things that you need to know and do to become recognized, respected and, most importantly, able to generate a meaningful income from your business. To be successful, I suggest that you take lots of “Vitamin C” and think in the following terms: Clarity, Customization, Communication and Connection, Collection and Cushion.
Clarity—Before you start, try to clarify exactly what it is that you seek to do. Create a vision. What are your goals? Do you have the requisite tools to make it happen? How do you see your endeavor in Year 1? In Years 5 and 10? What will you need to do to get to where you want to be? Do as much homework as possible. Talk to people in the field who have gone down the road before you. Ask specific questions about their successes and failures. What would they do differently if they were starting again? Such information can be invaluable as you conceive your way forward.
Customization—You likely have heard the expression “Jack of all trades, master of none.” This line describes the profile of someone who has learned many skills but has not come to master any of them or has failed to establish a clearly defined niche within the market. What is your expertise? Why would someone want to come to what you are offering, especially in a market that is saturated with others who are doing similar work? Make sure to pinpoint exactly what it is that you seek to provide and focus your branding efforts and energies towards that end.
Communication and Connection—People want to know that you are interested in them as people before your interest in them as clients. Find ways to meet people, through referrals and networking events. Then make sure to stay in touch. Grow and maintain a strong and updated contact list. As with many other aspects of marketing and client relationships, this can seem like an onerous task and will often be placed on the back burner, particularly when you are understaffed. However, gaining contacts and then staying current with your list is an important way to deepen relations and confidence over time, which will result in more lucrative sales.
Collection—It is also valuable to collect testimonials, personal feedback from satisfied customers who have benefitted from your services. A short paragraph can be posted on your website, LinkedIn page, or included in your print materials. While you are at it, prepare a short but diversified list of referrals that others can be directed to reach out to.
Cushion—It can be very tempting to run after every opportunity that comes your way or to operate on a shoestring budget in order to survive during your earliest stages. Money is usually at a premium and we do what we can to “get by.” The problem with such thinking is that it can quickly derail you from your long term goals and force you to push the panic button. Wherever possible, begin with a fiscal cushion. Give yourself the benefit of time to do things the right way to build your brand and your client base. Go into the process with a conservative timetable for success that will allow you to build from the ground up with clarity and confidence. This will also clearly define your services for all of your clients. The last thing that you want is for someone to offer you a quizzical look and say, “what is it that you do again?”
The above strategies have been proven to help people take their first, challenging steps with greater confidence and success. I encourage you to take your “C’s” early and often to ensure that you begin along a path that will hopefully bring you to the success and fulfillment that you seek.
Rabbi Naphtali Hoff is an executive coach and President of Impactful Coaching & Consulting (www.ImpactfulCoaching.com). He can be reached at 212.470.6139 or at [email protected].
By Rabbi Naphtali Hoff
