Congratulations on getting started. It indeed takes a lot of guts to start a new venture. Most people are so overcome by fear that they never make it off the front porch. You’ve done that, so I’m giving you a proverbial pat on the back. Getting started takes a lot of moxie, but staying with it will often require resilience.

“Do what you love and the money will come.” “Build it and they will come.” Those are just a couple cliches you hear about starting your own business. You put together your plan, you get your business loan and you get started. You’re excited to be on the path of doing what you love; however, you eventually realize that you were only given part of the equation. Doing what you love is a great concept, but to make money and eventually a profit, others will also have to love or at least like what you do. Otherwise, they won’t spend money with you.

How do we get to the point of making money while doing what you love? I wish I could tell you there’s some cookie cutter method to it, but there isn’t. There are a few consistent points; however, you’ll find most answers vary based on your particular industry. I will only present you with four pointers that I’ve found consistent. They’ll at least get you on the right track.

1. Don’t throw the baby out with the bath water: This was an expression my elders used when I was young. It basically means, your idea might be good, but you may have portions that could be revamped or thrown out completely. Just because there may be elements that aren’t good doesn’t mean that you should give up entirely. Keep what works and get rid of what doesn’t.

2. Seek expert counsel: Good counsel can be found in a good book, a YouTube video, industry professionals or someone who’s done what you’re attempting to do. I’ve rarely met an industry professional who wasn’t willing to share. If they are unwilling, it’s probably because you’re their competition. Keep looking! You’ll eventually find the right one. Caution: As with any counsel, “eat the fish and spit out the bones.” If the information doesn’t resonate with you or your goals, you don’t have to accept it. After all, it’s your business.

3. Build your audience: If you build it, they might come, but it definitely won’t be without effort on your part. Consumers have to know what you do and how you do it. If they like what you have to offer and you offer it at a reasonable price, it is safe to assume that in time, you’ll have a consistent customer/client base. Don’t be afraid to get out and meet new people, particularly market influencers and taste makers. You may also have to spend a little on advertising. Just make sure that your spending is in alignment with your income. You don’t want to spend $400.00 a month to only make $200.00 a month.

4. Last, but certainly not least, have some stickability. I’ve yet to meet a business owner who didn’t go through some spell of wanting to throw in the towel. If you want to succeed at your dream, you’ll have to learn to encourage yourself. I say encourage yourself, because sometimes there is no one there to do it for you. Surround yourself with positive and forward thinking people. You’ll be able to feed off their energy and they can feed of yours. Negative people will also feed off your energy, but it’s not reciprocated so you’ll eventually end up drained. Stay away from negative people.

I hope that these words will help you along your journey as an entrepreneur. Maintain persistence and patience and I look forward to seeing you at the top.

Eric L. Lipsey
President/Co-Founder
Phoenix Business Development