Blog Post Two

#2 PROUD POTENTIAL ENTREPRENEUR? 

BE CAREFUL: YOUR BABY MIGHT BE VERY UGLY!

by John C. Randall, December 3, 2017

     If you are serious about wanting to be an entrepreneur, you will probably have an idea of what you want to do.  Others might even tell you it is a "pretty" good idea.  But will they tell you it is not such a pretty good idea?

     Most will not tell anybody that their baby is ugly.  The same is true of fledgling ideas!  This means being critically honest with yourself about yourself and your idea.

     There is a saying, "The time spent sharpening the axe is saved when chopping the wood."  The act of honing the edge of a blade takes time and a keen eye on the process.  Convert several hours of your time to some serious thinking.  Write down your thoughts in response to the  following steps as you sharpen your axe:

1.  Please keep your "day job" for now!  What are the irritations that are driving you think about making a change?  Do they represent an opportunity?

2. Think about what you enjoy doing so much that you would do it even if you were not paid.  Make a list of things that you are really good at, that are fun for you!  Let's call it your potential "income-generating passions" or best skill(s). 

3.  Be honest with yourself and decide where you would really enjoy doing it (inside or outside, alone or with lots of people, in town or elsewhere, where it is quiet or noisy, etc., i.e. the environment that you would look forward to being within daily as you pursue your "income-generating passion").   This might also be a description of your potential marketplace.  If not, define who or what would benefit the most from your top skill(s). 

4.  Qualify your answers to items # 2 and #3 by the answer to a critical question:

Will it help lots of people that you can actually serve -- and will they willingly pay you for it?  Only two answers are acceptable: a solid "Yes", or a solid "No", not "Maybe".

   If "Yes", ask: "Who and where are they?"  Can you actually serve them?  Can you reach them with your message?  Will they respond?

   If "No", start thinking back on your list from item # 2 again!

5. Keep adding items to your list. 

6. Examine your list and see if your can match it up with "gaps" in your potential marketplace.  "Gaps" are what is missing between the current situation and the future situation of your target market.  Most importantly, the gap must be something you are uniquely qualified to fill and fully satisfy.  Examples of words that describe a specific marketplace gap are "aggravation", "dissatisfaction", "pain", "irritation", "unreliable", etc. 

7. Do some market research, and maybe even market testing, to see if the gaps you perceive are really real. 

8. Put together a plan of action.  A well developed plan following this approach enhances definition of credible planning assumptions, and the subsequent development of your strategic milestones, tactics and financial projections.

CAUTION:  Just creating lots of spreadsheets and verbiage without credible assumptions is just kidding yourself -- and while they may fool some, why fool yourself?

9. Review your plan with trusted confidential advisors: ones that will tell you the brutal truth.

10.  Take careful steps to turn your plan into action - and accomplishments.  They fall into three categories: pre-launch, launch and post-launch.  Have you defined these steps?

WARNING:  If most of your work life has been with large corporations, the government or other large organizations, a carefully planned and timed transition is essential, otherwise the odds are really stacked against your success.  Take a long moment and think about what you really want, then why, when, where and how will you to do it.  Look again at your job -- it might not be so bad after all.  Do you still want to scratch your itch for career independence?  Save time and stress, just view the FREE Case Study on this web site, take notes, and take the next steps right now.

ABOUT JOHN C. RANDALL    

     John Randall is a chemical engineer who jumped off the traditional corporate career track when he was 43 and since then he has focused on helping others to achieve a higher level of success.  John is a trusted confidential advisor who helps individuals to grab control of their own career, income and time by using his expertise in self-leadership, self-marketing and self-control, based on genuine values and integrity.  He has earned the moniker, "The Consultant's Consultant."  John's clients are from a wide cross-section of ambitious individuals from throughout the United States of America.  His proprietary insights has helped them save time and worry less as they gain their career track independence while also persevering in the spirit of agape love, joy, peace, patience, kindness, goodness, faithfulness, gentleness and most importantly, self-control as they focus on their self-leadership skills while minding the Master (cf. the Gal @ 5:22-23).  If you enjoyed this article, don't forget to view the FREE Case Study and reach out for a free strategy session today.

 

© John C. Randall, 2017.  www.MasterMinder.com  All rights in all media world-wide reserved.