Home > Becoming an Entrepreneur > Being a Successful Entrepreneur STEP 1: Choosing the RIGHT Business

Being a Successful Entrepreneur STEP 1: Choosing the RIGHT Business

Today I attended a meet up with about 150 entrepreneurs in Tel Aviv. A very interesting event! Everyone in the room was keen to get more information that will help their business grow! Be successful… A bit of networking… It was energizing to see the interest & motivation. To meet new people & old friends. But as I drove home, I found myself struggling & doubting… Questioning myself… Thoughts that certainly don’t bring me forward in a powerful way, with my strengths… What makes my journey right for me? Have I covered all the legal bases? What makes what I’m offering special? Attractive to prospects?

So today’s article is as much for re-invigorating myself, as it is for you! Yes – I’m in full operation in my business with a good client base. Evolved it. Taken on some partners. It’s a continuous process… My lesson is: I find it important to feel very grounded in what I do – the reasons I do it and the business environment & market. Especially in these changing times… Grounding helps to evaluate. To keep a steady framework, especially in times of self-doubt… So I will outline my thoughts today from the GROUNDED perspective…

From your feedback, I have requests for more guidelines. I will therefore go into more details now & in the coming weeks to fill this need. Please continue with your questions and suggestions (online and offline) to fuel me with your needs! In “Transitioning from Worker to Entrepreneur” (my first entrepreneur article at InHaSharon), I presented some key success factors for making the transition into the entrepreneurial role in 4 areas of focus: Integrating your Business & Self Identity, Planning for Success, Doing it! Work-Life Balance.

The first part of the BUSINESS CHOICE ROADMAP is based on Finding Your Entrepreneurial Passion, fostering your business & self-identity:

What is the right business? How is it connected to my passion & identity? From the GROUNDED perspective, my business connects to my passions, vision and needs from the inside out. It is a choice. Based on my knowledge of what makes me tick, my values and my full life purpose – first and foremost. And then fitting it into the current market. A bit backwards or counterintuitive to you maybe, but it’s the KEY to success…

My personal story…

I have made 2 attempts in my own business. Other than experiencing entrepreneurship as a child and wife on the side-lines… Nothing beats your own experience. But it’s great to learn from others! As I look back on the first time that I gave it a try, I can see that I wasn’t really starting a business. I was bringing in money by projects. I succeeded in the money… But not being dedicated to the business.

So a year ago, when I gave starting up a business a second try, I came at it from my passions. I gave the business entity a name (U-Solve). It was outside of myself. It had to be managed. I knew how to manage. I knew what to do from this perspective. I began to plan and research and market. To look at the business from the eyes of my clients. To work from the INSIDE and OUTSIDE! 2008 was a tough year for business. But I felt good that I went according to my plan. A plan that I set and committed to. And in the process, I gained a new profession – as a professional business and life coach – bolstering myself & my business, along with my prior experience… I gained a fuller life with balance, but we’ll continue with that later…

What’s the RIGHT way for you? There is NO right answer for everyone. Or right path to take. There are many methods to make a conscience choice about what is the right business. Brainstorm options. List all the possibilities that come to mind. Focus on your passion, what you like to do, who you like to work with. Look at lists of businesses and see which ones strike you. Talk to friends, family, and partners. Think about what suites your lifestyle and qualities. It’s a true integration that’s right for you…

For some, the business area is known rather intuitively. For others it changes with time. For yet others, there are several options and ideas to choose from. For some, it requires much investigation and research – Deep searching into themselves. Start, stop, re-start. Go with the flow. Enjoy your unique journey!

See some helpful templates to help you on your journey on the MATI Raanana Small Business Development site where I’m a Business Mentor & Coach: http://www.matiran.org.il/38039/Starting_a_Business

Next steps are Initial Business Planning, Market Research, and OPERATIONS ROUND ONE! Details to come in the next weeks…

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