Entrepreneurship has always been an integral part of the vision for eBoost Consulting. “Create Your Own Tomorrow” is our company mantra, and we love to use the skills and tools we have available to make that vision a reality for our employees.
I’ve been a consultant at eBoost for over five years and am the Area of Practice Manager for Email, Paid Search and Guerilla Marketing. I also take care of some tracking and operations items. I have always been in a support and teaching style role at eBoost. I never considered myself an entrepreneur and never thought I’d be the one venturing out- until now. Recently, I lost over 80 pounds and discovered a passion for the fitness industry. I became a Beachbody coach that that pairs people up with health and fitness solutions that meet their needs and keeps them motivated and accountable. I was asked to share my process of starting that venture with you because I was able to take a passion and turn it into a profit. There are many components to growing a business. For the purposes of this article, I will go over the following:
Best practices for starting your business
How you can grow your business
Ideas for accelerating your entrepreneurial career
How digital marketing can lead to your success
Best Practices for Starting Your Business
Before embarking on a new entrepreneurial venture, the first step is to evaluate your life priorities. Once you’ve established them, you are safe to move on to your professional priorities and seek out business options that achieve alignment. One mistake many people make is jumping into a new, fun idea and not verifying that it will conflict with major life goals. Knowing what you want can prevent this sort of conflict and therefore make it easier to stay focused on your true wants and desires.
Once you have priorities set, you can really decide what you want. You can go out and set yourself a “Big Hairy Audacious Goal”, also known as a BHAG. This should be something really big and something that actually makes you uncomfortable or potentially embarrassed. For example, if you want to be the best of the biggest makeup company (which for some means bigger than M.A.C), then you’d probably be slightly embarrassed to admit this to your friends over lunch and just a little uncomfortable. Good BHAGs are uncomfortable and are bigger than what you think you can accomplish as you are now, all else being equal.
After your BHAGs are established, you need to create a plan. If you don’t have any idea where to start, you can make a list of 100 activities that might help get you there. For instance, you might be able to Google a list of blogs, find a local class, walk into a book store and find a few books, or email some successful people in the field you are interested in. You can make this list a resource for achieving your BHAGs, which can be a vital tool for if, and when, your business is slowing or hits a roadblock.
Now when I say create a plan, I mean a loose and easy plan that gives you a general idea of how you want to accomplish your goals. Do not add too much structure or get too serious about this plan up front, as it will most certainly change, if not immediately.
How You Can Grow Your Business
There are a lot of things that need to be implemented to actually see this idea through. First, you want to take your BHAGs and you want to make them SMART! Your goals should be Specific, Measureable, Attainable, and Realistic and should also have a Time limit.
In order to make sure that you can reach those goals, consistently evolve them to be more detailed, focused and efficient. There will always be more work to do, so make sure that you are doing the right work so that it is driving your business forward. The best way to do that is to schedule everything, and yes, I mean everything. Include time off, me time, family time, regular work hours, sleep, health, travel time and appointments. Don’t leave anything out!
The least effective thing I see people do is wasting money and/or effort on activities that either do not drive their business forward or refrain from utilizing outside resources when needed. Regardless of the size of the company, you should consider outsourcing some items on your to-do list. I realize that a new business is very hard for people to relinquish control of, because of its fragile state and the owner’s inherent passion. However, it really is okay to let others help if it’ll meet your long-term objectives. Each time you have a business-related task, consider the following:
How long it is going to take me?
Am I good at it?
Could I use that time for other things that I bring more value to?
Is it more cost effective to have someone else to do it, when considering the time and money I will give up?
If I outsource this, will it free up my time and allow me to focus on other tasks that require my personal input?
After determining your answers to these questions, check-out some of my suggested sites to help you become more resourceful which include Upwork, Fiverr and Guru. As with everything business-related, don’t just buy things because you think you need them. All decisions should relate back to your SMART BHAGs, which will ultimately drive your new company forward.
Ideas for Accelerating your Entrepreneurial Career
Once you have your business model planned, you will need to accelerate its growth. The most important way to do channel your inner entrepreneur is to first assess your own personal development. You must get out of your comfort zone and push yourself. There are thousands of resources available to you to help you move forward and some of my favorites are Darren Hardy’s The Compound Effect and Success Magazine.
As you spend time working on yourself and your new company, make sure the sacrifices you are making are the right ones for your life. If you work all night will it be just another missed dinner party or will it be the one time your kid is doing something special? Think about when and where to sacrifice, because there will be sacrifice, and make sure it aligns with your major life priorities.
Business owners must always be willing to learn new things. The world is constantly changing and you must keep up. You should constantly be looking for improved ways to do things, learn new skills and find creative avenues to reach people that can help you reach your SMART BHAGs. There are so many free resources in our world today that you can find educational resources for absolutely anything with minimal effort. This will help you be both a better business owner and a better leader.
How Digital Marketing Can Lead to Your Success
I was lucky enough to have the dream team of eBoost Consulting teaching me all of the skills I needed to be effective in the digital space. Some services I used to launch this business were Facebook, Meetup, Craigslist, Email, Blogging, SEO, basic HTML, YouTube, Pinterest and StumbleUpon. There are many resources available online that can help you market your business, so evaluate the ones you think can help and focus on a few that make the most sense.
I hope that you are ready to start dreaming big and that you will reach out to eBoost Consulting to help you figure out which digital marketing strategy and tactics you should implement on your journey to success.
eBoost Consulting helps great companies grow through search and social paid advertising. Since 2005 our team of digital marketing experts has been running highly successful digital marketing campaigns with a focus on innovation, results and customer satisfaction.