Small
Business Tools and ResourcesWe wanted you to
have the very best in expertise in running your new online
business. We know how difficult being your own boss can
be, and we have partnered with the best authority we know of
to help you with any questions you may have, ways to make your
office life easier to manage and shortcuts to save you hours
of time working out the systems you need.Terri Lonier is
the President of Working Solo Inc., and has been an
independent professional since 1978. She will be sharing
her insights, tips and strategies through articles, the ezine
and anything she discovers that will make your business grow
and prosper.
More
Than a Hobby
by Terri Lonier, President, Working Solo, Inc. (www.workingsolo.com)
Every day, thousands of individuals strike out on their
own, ready to begin the adventure of working solo. Some will
build their companies into thriving enterprises, while others
will see their efforts crumble in a pile of frustration.
Is there a secret ingredient that guarantees solo success?
That’s a question that’s often asked from the thousands of
independent professionals I encounter each year in my travels.
Most people think it’s just about money. Have enough of
it, and your business will flourish, they say. Others declare
that it’s all in a business idea.
While it’s true that a solid financial footing and a
strong business concept can help you navigate the inevitable
cash flow bumps that a new venture encounters, I think
there’s a more important factor for entrepreneurial success:
a business mindset. Soloists who succeed are those who
understand that every decision must be made from the
perspective of a business owner – with all the focus,
commitment, and professionalism that comes with that attitude.
A business mindset doesn’t require MBA courses or
in-depth knowledge of sophisticated business models. Instead,
it starts with a simple question: What can I do to position my
company as a serious business and not a casual interest?
I’ve seen this shift occur in my own business development
over the last two decades, as I’ve grown from being a
freelancer to the president of a one-person company, and now
the head of a firm with virtual partners around the world.
It’s a subtle, but important, distinction. Consider these
differences in attitude in the questions below, and see where
your thinking fits in:
* Do you float from project to project and let clients
dictate your growth path, or do you choose projects carefully
so that each one builds your skill set over time?
* Is your office set up on your kitchen table, or have you
established a more structured work environment (even if it is
a wooden plank over two used filing cabinets)?
* Do you keep good business records, or are they all
stuffed into a shoebox that’s a mass of confusion?
* Have you invested in proper professional tools, such as a
separate phone line and voice mail, or do you live in fear of
your 7-year-old answering that important client call first?
* If someone asks what you do, are your phrases filled with
apologies and limitations, or can you speak with clarity about
your business focus and goals?
* Are you actively curious about learning new things, or do
you adopt an “I-don’t-have-time” attitude toward
professional development?
* Are you seriously committed to building your company, or
are you just hanging out until a better job comes your way?
When you’re self-employed, the IRS wants your company to
make a profit three out of five years, as proof that you’re
engaged in a serious business pursuit and not a money-losing
hobby. Even if your profits are very lean – as mine have
certainly been some years! – what’s more important is the
mindset you carry. What can you do today to make the shift
from temporary to dedicated, from diffused to focused, from
passive to committed?
Seasoned soloists know that success starts with a business
mindset. It doesn’t cost a penny, but the payoffs are
substantial.
Copyright 2004 Working Solo, Inc. All rights reserved.
Bio Note:
Terri Lonier is a business coach who guides business owners on
how to generate greater profits -- and have more fun – while
running your company. One of the nation’s most respected
authorities on self-employment and entrepreneurship, Terri is
author of five books, including the classic startup guide,
“Working Solo.” Her work has been featured in the New York
Times, the Wall Street Journal, Fortune, Fast Company, Inc.,
and on CNBC, CNN/fn, and radio stations around the world. You
can learn more about Terri and her Pathfinder Coaching Program
at her Working Solo Web site, http://www.workingsolo.com
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