Women Starting a Business - Business Coaching Advice

Written by admin on Monday, March 15th, 2010

This article discusses gives a fictional scenario on how women entrepreneurs typically approach business and how this approach can affect the profitability of the business. In this example, the hesitancy of making an investment really isn’t a savings, but causes the business owner to lose a lot of potential income. This does bring up a good point. Entrepreneurs, especially women business owners, must be willing to invest in their business if they want to bring it to a point where it grows into a profitable business. Read on for more info.

Are You scared to spend money on Your Business?

Jesse had a dream. A dream to become a life coach and positively impact the lives of others. So she went for coach coaching, set up her website, started finding pals on Facebook, started her ezine along with all of the other tasks associated with starting a new business.

But not very much was occurring in the way of money generation and she knew that she was going to do something - and fast! She only put enough money away for 6 months of living without revenue from her new undertaking. So she started looking around at options that would help her meet more people and generate potential customers.

One day a pal told her about a networking group that she could join that would help her meet new people, so Jesse attended as a guest and truly liked it. Her excitement turned to fear when she read the membership fee. The 400 buck a year fee was not in her budget. In reality, nothing much had been placed in her business start up budget at all. She had already blown through the money she thought she would need, spending it all on a site. So here she was, faced with an enormous dilemma.

Sadly, Jesse failed to join the networking group because of her fear of making an investment in her business - and she’s not alone. These limiting principles are business bankruptors and you must get truthful with yourself as to what they are and then make them part of your past.

What’s the price of not making the investment? Work out a reasonable potential ROI for the item you are considering and compare it with the ‘expense.’ for instance : if Jesse had enrolled four new clients as a consequence of joining this networking group, she’d have made $12,000 - what an ROI for a mere $400 investment!

Spend some time looking at common business expenses and figure out a budget. Consider selling as a first area - particularly if your business is in its infancy. And don’t forget to account for a professional coach. Having a strategic thinking partner, motivator and accountability person on your team is a useful investment in guaranteeing your future success.

So many people have so much on the line right now. If you’re in this scenario I beg you to take an honest, hard look at what’s occurring in your business - and if you have the beliefs to support your long-term success. If not, you need to be proactive about it right away or else you could finish up like Jesse, whose fear came true - she’s’s back working for someone else, struggling through every day and looking at her business with hindsight, wishing she had been more practical about what all was concerned in being successful. See more at http://www.mollyluffy.com

Molly Luffy is an intuitive business coach. Get a free women’s success video series at http://mollyluffy.com