This post is sponsored by Comcast Small Business, but all opinions are my own. Please see below for additional disclosure.
I often get asked the question, “how do you juggle it all?” As a serial entrepreneur, I’ve learned the art of balance and taking calculated risks. From a very young age I knew that I was built for business, in fact I wrote my first will at the age of 7 in blue crayon and used to run a banking system out of my pink Barbie treasure box, lol. I’ve always had the ability to think ahead and want to invest in myself and my future. In addition to having the mindset for business, I’ve been fortunate enough to make the right connections and find the right tools to help me along the way. One fantastic resource is the Comcast Business Community and their innovative services. We’ll get to that more later though… back to my story.
Fast forward to age 17, it was the first time I ever thought of starting an online magazine. I knew that I wanted to do something to help women and that if I could entertain people while helping them, I would be happy with what I had done. That was the true beginning of the conceptualization for Your Life After 25. Over the years I’ve been blessed to do an online conference for bloggers “The Blog Workshop” and even write my own cookbook “The Pocket Sous Chef“. All those projects were new business ideas at some point and I had to be ready for the tasks when I took them on. For me, purpose is a major reason I do a lot of what I do. I’ve always tried to help people in any venture I take on.
This year Your Life After 25 turned 5 years old and I feel so fortunate to still be in business and have so many dedicated readers. This year also marks 10 years that I’ve been known as Da Vinci, it’s amazing how things can come full circle. With so many milestones being reached, I knew it was time for me to fulfill another lifelong dream and I had to ask myself a few questions to make sure I was ready. Check out 5 Reasons I Knew I Was Ready To Start A New Business Venture!
5 Reasons I Knew I Was Ready To Start A New Business Venture!
1. Do I Have A Clear Cut Business Plan? If you can sit down and map out a plan where you’ve assessed the risks, rewards, and necessary steps for your new venture you may be well on your way.
2. Am I Providing A Product or Service That People Will Need or Want? Ask yourself is this something people actually need or want. If it’s not, maybe you should just continue with that idea as a hobby and if over time people start to like it then you can invest more into it. It can be helpful to use the Comcast Business Community to see what others are doing in different industries and see if they can help you make the decision as to whether you should move forward.
3. Can I Afford To Take On This Risk? Often times people think about the money involved but when I ask myself this question it’s also about the time that it would take to get a projects off the ground and bring in viable profit. Time is the most precious commodity we have, you can’t create more time.
4. Will I Be Able To Help People In Some Way? This is a big personal goal for everything I do, I had to ask myself if what I was doing will help people in some way/shape/form. With Ife Medow, my new clothing venture, I know that I’ll be working with a great cause that is related to the brand in some way.
5. Will I Be Happy With This Business/Brand Long Term? This is a HUGE question, I often hear successful business people asking “what’s your end goal?”. A lot of people haven’t even considered it. The key is to be happy with your business long term, whether your goal is to build a legacy or sell eventually, you should have an idea of what you want to do before you start. Of course this can change over time, but it’s still important to think about.
These may seem like simple questions to ask yourself but for me it’s important to think about what you’re getting yourself into ahead of time. Planning is key when you’ll be taking on different ventures. When you plan, it’s like having a road map to guide your path. If you get off course, with a plan, you always know where you want to end up.
Once you know what your plan is, you can start putting together your resources and tools. I’m big on branding so that’s usually my first step. When it comes to tools and services, Comcast Business provides flexibility, with services that are scalable as your new business grows. This means that your company can expand and Comcast Business is able to provide whatever services or products that your evolving company needs. When thinking about e-commerce scalability is always a big thing to think about.
And you have more than enough to worry about when it comes to a startup. So it’s great to work with a company like Comcast Business who is always thinking about the future. We discussed some of the innovative solutions they have that will help you keep your focus on running your business.
Another thing I have to mention is that it’s great to draw inspiration from other businesses and their successes, but never try to determine your success based on somebody else’s. We all have our own journeys to go through, the more time you spend focusing on what somebody else is doing, the less time you’re spending on your own brand.
If I can offer one major piece of advice for budding entrepreneurs and startups, it’s that your desire for success must outweigh your fear of failure. In life and business you will always fail more times than you succeed, to be successful you must be able to push past your failures.
I hope my list of 5 Reasons I Knew I Was Ready To Start A New Business Venture were helpful to you all. Below you can find a bit of inspiration and a few articles that will help you through your process and ask any questions you may need to ask yourself.
- Are You Ready to Start Your New Business?
- Check out seasons Why Startups Fail?
- Find more resources and help at the Comcast Business Community
See what small business MILKHOUSE has been able to accomplish with Comcast Business: https://goo.gl/WN6d3w
We wish you all the best in your own endeavors!
Comcast Business partnered with bloggers such as me for this program. As part of this program, I received compensation for my time. They did not tell me what to purchase or what to say about any product mentioned in these posts. Comcast Business believes that consumers and bloggers are free to form their own opinions and share them in their own words. Comcast Business’ policies align with WOMMA Ethics Code, FTC guidelines and social media engagement recommendations.