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Consulting.

1. Identify the right business for you.

Give yourself permission to explore. Be willing to look at different facets of yourself (your personality, social styles, age) and listen to your intuition. We tend to ignore intuition even though deep down we often know the truth. Ask yourself "What gives me energy even when I'm tired?"

 

How do you know what business is "right" for you? There are three common approaches to entrepreneurship:

 

Do what you know: Have you been laid off or want a change? Look at work you have done for others in the past and think about how you could package your skill set and offer them as your own services or products.

 

Do what others do: Learn about other businesses that interest you. Once you have identified a successful business you like, emulate it.

 

Solve a common problem: Is there a gap in the market? Is there a service or product you would like to bring to market? (Note: This is the highest risk of the three approaches.) Start with some market research, and if you choose to do this, make sure that you become a student and gain knowledge first before you spend any money. 

2. Business planning improves your chances for success.

Most people don't plan, but it will help you get to market faster. A business plan will help you gain clarity, focus, and confidence. A plan does not need to be more than one page. As you write down your goals, strategies, and action steps, your business model becomes real.

 

Ask yourself the following questions:

  • What am I building?

  • Who will I serve?

  • What is the promise I am making to my customers/clients and to myself?

  • What are my objectives, strategies and action plans (steps) to achieve my goals?

 

If you take these steps, you'll be well on your way to becoming a successful entrepreneur. It's important to remember that you are not alone. If you want to "be your own boss" but still feel stuck, reach out and connect with us. 

© 2022 Pelago Funding LLC

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