wessam

I have noticed that it is usually a big challenge for people who come from a corporate background who used to think like an employee for so many years, to make this necessary business mindset shift.

I have coached many professionals who would like to start their own businesses. Most of them are very competent and qualified business professionals. They have all what it takes to start a new business. Unfortunately, I have heard all sorts of reasons and barriers that are holding them from taking this step. Here is a list of what I heard before. Check yourself against it.

I get asked frequently by clients, how do I get testimonials if I am just starting out? So you just launched your business and you are about to land your first few clients and you realize the need of having testimonials but do not have any, yet. First of all, i am glad you realized the importance of building testimonials and i would like to acknowledge you for taking this crucial step of building your testimonial file.

You probably heard before the 80/20 Rule which states that : 80% of your revenues are generated by 20% of you customers 80% of your profits come from 20% of the products In each of the above cases, 80% of your results will be achieved by 20% of your activities. How can you use this concept to improve your business profitability?

I have been asked this question several times by aspiring entrepreneurs. I totally understand where they come from because I have been there. Faced by the fact of having to manage a multi faceted business, a new entrepreneur would think that he needs to be an expert in several fields.

One of the key mistakes that starting entrepreneurs usually do is not pricing their services probably. This is usually a problem that results from not knowing your target market or not understanding your clients' needs. Most entrepreneurs would be too humble in pricing their services. I have rarely met a starting entrepreneur who errs on the high side of pricing.

So you are a new business owner and I can hear your saying: I don't have enough budget. I can't afford to hire a bigger team. I cannot afford new equipment. I don't have a well known brand. Does any of the above seem familiar to you?

As a starting entrepreneur, you probably realized by now how speaking about your service to groups can be a very effective way to promote yourself and reach a wider base of prospects. You do not need to be a professional speaker to do that. You only need to know the essential components that would hold your audience attention and spur them to action.

The critical mistake I am going to share with you in this article can halt your business progress for years. Nothing can ruin your business success as this mistake. The good news, however, is that once you become aware of it, you will immediately free yourself up from the significant pressure you feel and start to build the business of your dreams.

I asked one of my recent coaching clients: What is your target market? She responded: everyone can be a client to me. Does this response sound common to you? The truth is "Everyone" is not a target market because simply no company can serve everyone. You can never be everything to everyone.