From: Suzanne Mulvehill [suzanne@profit-strategies.com]
Sent: Friday, August 06, 2004 1:18 PM
To: serena@twofins.com
Subject: Profit Strategies - August - Inspiration for Entrepreneurs

AUGUST 2004

Inspiration for Entrepreneurs Newsletter

The Entrepreneur Hour Radio Show
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August 9
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What Others Are Saying
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"No matter how successful you were in corporate America, you know nothing about becoming an entrepreneur. I know because I was the President/CEO of four companies before I became an entrepreneur. I could have used this book."

Sigmund Goodwin
Vice-President
The Radcliff Company

"How I wished that I had had this precious and practical tool to help me in my escape from Corporate America! After 15 years in “Fortune 50” Corporations I was convinced that the “crossing” was not possible. Practical advice such as “what to do until the money flows” would have greatly eased the transition for me. Negative corporate management’s reinforcement about the “big bad world” and not realizing that it didn’t have to be an all or nothing transition delayed my ultimately successful escape by years. This book will be an entrepreneurial bible."

Angela Love, M.S., Professional Coach, Angela Love and Associates, Inc.

 

From Suzanne --

Entrepreneurship requires commitment for long haul

Staying motivated for the long haul is both challenging and necessary.

We live in a fast-paced society where instant gratification is the norm. We may discover that we need skills and attributes to help us stay positive and on course as we deal with the ups and downs of business.

We come to learn that growing a business is a process that requires patience, flexibility, trust, and the ability to deal with uncertainty, among other things. It is important to note that we can learn new skills and attributes to help us in our business.

Entrepreneurship is no longer something someone is just "born to do" instead it is something we learn. Through practice and patience, we have the ability to change what is not working and enhance what is working so that we can successfully grow our business.

Below are a few principles to help you stay motivated for the long haul:

Make/renew your commitment — Being committed to one's business venture is essential to staying motivated for the long haul.

When we make a commitment to ourselves and our business, we are able to move beyond fears, doubts and insecurities that in the past may have held us back. I know this to be true because I experienced it. I didn't make a commitment to my business until I was in business for almost three years. I would fluctuate in my commitment depending upon the circumstances.

When things were going good, I was committed, when they weren't, I thought about giving up. It wasn't until I made a written and verbal commitment to myself that I was going to give this business my all, no matter what, that I began to reap the benefits of being an entrepreneur.

What I learned is that when we are most challenged is when we need to be committed the most.

Be agile/flexible — Combined with being committed is being agile and flexible. Bill Rancic, winner of The Apprentice reality television series was recently a guest on my radio show, The Entrepreneur Hour.

He said; "Having a business plan is important, but being flexible with the plan is more important."

Bill completely revamped his marketing strategy for his cigarsaroundtheworld.com business when his original business strategy wasn't working. He shared about how we need to leave our egos at the door and just do what needs to be done.

Develop a support network — A support network includes friends, colleagues and family who celebrate our successes and help us through our challenging times.

While it is easy to call a support person to celebrate a success, it can be difficult to call and ask for help or express a difficulty. It's at the moment when we reach out and share our challenges, or ask for help that we begin to experience relief from the problem or challenge, see solutions and recognize the value of the people who support us.

The support we receive is as strong as our ability to share the good times and bad.

Stay balanced — When we are balanced within ourselves by getting enough rest, having healthy eating habits and taking care of our spiritual needs, we are better able to cope with challenges. If you find yourself becoming irritable, impatient or the like, check first within your being — mind, body and spirit to see is you are in balance.

We are always better able to cope and stay motivated when we take care of our human needs.

Be realistic — Being realistic means that we know and expect ups and downs while growing and operating our business. These ups and downs may include anything from success to disaster. Our opportunity in being realistic is to know and believe that we have the skills within us to deal with any situation, regardless of the circumstances.

 

Announcements --

Please join me in congratulating the following entrepreneurs who have recently transitioned from employee to entrepreneur:

Jana Gregory, Petswalk, Inc., specializing in "latch key" pet care for working professionals  www.petswalk.com                               email: jana@petswalk.com

Barbara Cheives, Converge & Assoc., specializing in race and ethnic relations consulting                                                     email:  convergeassoc@bellsouth.net 

Carol Pennington, Pennington Sales Development, specializing in providing support and training for new and small existing businesses that have a need for sales growth                                          email:  penningtonsales@bellsouth.net 

Know someone who's deserves to be acknowledged for their recent transition into entrepreneurship?  Let us kinow!

Want to gain insight from fellow entrepreneurs who are overcoming the emotional challenges of transitioning into entrepreneurship?  Visit the Employee to Entrepreneur Discussion Groups available at http://EtoEdiscussiongroup-network.ryze.com

404 South L Street
Lake Worth, Florida 33460
Phone: (561) 202-9051
E-mail: info@profit-strategies.com
http://www.profit-strategies.com

©2003 Copyright Profit Strategies, Inc.
All Rights Reserved.

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