If money is your only motivation for starting your business, you might be in the wrong business. I say that because on average, it takes a start-up company 2-3 years to make a profit. If you don’t have a purpose for why you’re doing what you’re doing (other than money), you likely won’t stick to it long enough to reap the benefits. When you’re truly passionate about something, you’ll do it even when you’re not getting paid for it. As you will read in Lesson 5, consistency is key to succeeding in business. So, if you’re going to do this, you need to be 100% committed to it.
Before Biz Ownhers became a global network for women, it was my own personal blog. I started Biz Ownhers after determining that my purpose in life is to positively impact women through words. I have always enjoyed writing and I’ve always been good at it. My intention was to blog until I hit on a topic that I would want to write an entire book about because my ultimate goal was to become an author. I wrote about issues that were important to me consistently and paid attention to the ones that received the most feedback from my readers. As my readership grew, I received more opportunities to connect with women who could relate to me. Those connections lead to me receiving my first invitation to speak at an event and realizing that there was a need for me to create a community for women like me. I wasn’t getting paid to write, but I loved it. I loved inspiring, empowering, and motivating others and making connections with likeminded women. Money wasn’t my motivation, but the more I used my gifts, the more doors opened for me and the more opportunities I received. It was only a matter of time before the money started flowing in.
Entrepreneurship is not as glamorous as some make it seem. One of the reasons that many entrepreneurs fail is because they have the expectation that they are going to make money as soon as they launch their product or service and when they don’t, they get discouraged and quit. To avoid being one of those people, you need to have a reason why you are in business other than income. On the rough days, you are going to need your passion to get you out of the bed in the morning. Knowing that what you do is valuable and purposeful will keep you going even when it seems that you are the only one who believes in your vision.
Assignment: Determine your “why”. Why are you starting or why did you start this business? What do you love about it? Why do you want this business to succeed? How will you winning in business positively impact your life and the lives of others? Who will be affected if you quit? Make a list of reasons why your customers need what you have to offer. Being clear about what you’re doing and why will give you more confidence and determination as you move forward with building your business.