Think Like an Entrepreneur

What Happens Before the Business Plan?

Deborah A Bailey — Sun, 05 Feb 2012 05:12:40 +0000

Now available!

“Think Like an Entrepreneur: What You Need to Consider Before You Write a Business Plan” by Deborah A Bailey is now available at these booksellers:

Amazon.com

Smashwords.com

“I think you have done an excellent job. I think it’s one of the best business books I have read about taking the leap into entrepreneurship!” – Julie Barnes

Following in the tradition of Deborah’s first book, “Think Like an Entrepreneur: Transforming Your Career and Taking Charge of Your Life,” the book includes a mix of motivational and practical information that gives you the “real deal” on what you must do before you go into business.

An exciting addition to this book is a series of interviews with women entrepreneurs who share their secrets and strategies on what to do (and what not to do) when starting out.

Download an excerpt here!

Get your copy today and find out what to do before you write your business plan!

Read another review here: http://advantage-marketingblog.com/2012/03/26/connect-like-an-entrepreneur/

Are You Missing Out on this Success Secret?

Deborah A Bailey — Thu, 29 Dec 2011 20:56:05 +0000

Has the churn in the economy made you anxious about your career? Are you business dreams on hold – or have they fizzled entirely? If so, you’re not alone. But one of the worst things you can do is to stop investing in yourself or your business.

Ups and downs in the economy are inevitable. Making choices based on fear will not help you to succeed (as you probably already know). So what’s the secret that successful people know? They continue to invest in themselves no matter what is going on in the world. They seek out opportunities to learn, to grow and to prosper no matter what the economy is doing. Hiring a coach is a success secret that really isn’t a secret to high achievers.

When you’re inside your own head it’s difficult to know the best action to take. You can end up going around in circles weighing this option or that option – and never make a decision! A coach can be objective in a way that a friend, family member or colleague can’t.

So how do you choose the best coach? First, have a conversation with them to find out if it’s a good fit. Even if the coach has the qualifications you’re looking for, you may not feel comfortable working with them. Don’t be afraid to say “no” if it’s not right. This is an investment that has to feel right in your head and your heart.

Here are some ways working with a coach can help you:

If you want to make career changes, a career coach can help you identify a career plan and what steps you should take.
It’s hard to make decisions in a vacuum. Having someone else to brainstorm with can help you to see opportunities you hadn’t thought of
When we get stuck in fear and can’t take action to move forward, a coach can be a partner who provides support and motivates us to get going.

Successful people will always have a career or business coach working with them throughout their careers. Even career and business coaches will have their own coaches!

A coach has no agenda other than working with you to identify ways to be more productive, make your business more profitable or help you to focus on what you really desire. If you want to achieve your goals, hiring a coach is an investment that will always pay off.

Recipe for Success

Deborah A Bailey — Wed, 23 Nov 2011 16:43:19 +0000

My mom usually makes pies for the holidays. This year I wrote a couple of recipes down just in case I decided to try them for myself. The reason I haven’t done it so far is because I know my pie won’t taste the same as hers. We may follow the same recipe, but the result won’t be the same. Each person puts something a little different into the thing they’re creating.

It might be a bit of a stretch to compare pies to careers, but in this case I think it’s similar. Everyone brings a part of themselves into everything they do. It doesn’t matter if there are already other people doing that work – you will bring something to it that no one else can.

During this time of year there’s always a lot of introspection about where we’ve been and where we’re heading. It’s easy to get discouraged if we think we can’t compete with people who are already doing what we want to do – or we think we are entering a seemingly overcrowded field. When I was afraid to move forward, I was always finding reasons why I should stay put. Thankfully I didn’t let any of them stop me.

So I guess it’s okay if my pie doesn’t taste like my mom’s. Her pie doesn’t taste like my grandmother’s. Each of us can add something to the mix that is uniquely our own.

Excerpted from the book, “Think Like an Entrepreneur: Transforming Your Career and Taking Charge of Your Life”

This is What’s Stopping You from Having What You Want

Deborah A Bailey — Sat, 19 Nov 2011 16:42:43 +0000

The other day I read an article instructing “older” workers on how to be relevant. The theme of the article was that if you’re over 40 you should try really hard to appear to be young and hip in order to stay employed. I’m really tired of hearing how I have to negate parts of myself in order to be more acceptable to the “norm.” Frankly I’m not sure there is a norm, but there are a lot of people beating themselves up because they can’t fit into it.

If you believe that there is something wrong with you, then it’s going to be hard to trust what you gut is telling you. In fact, you probably aren’t even listening. However, if you have a desire to be better, to learn more…to be the very best person you can be…you’ll have to accept that you know what’s best for you. That’s hard to do if you believe that you aren’t good enough.

In the corporate world I was rewarded for conforming to whatever “norm” was set by the company culture. I was used to not listening to my own mind. I turned off my desires for a different life. They were painful to deal with because I was afraid to make a change. So, I waited until I couldn’t ignore it any longer. There comes a point where you just can’t drag yourself through another day. But why wait until you’re in pain before you decide you’ve had enough?

Unfortunately it’s difficult to make changes if you don’t trust what you’re feeling – or you’re being told you’re crazy to want a different kind of life. You’re not crazy. There’s nothing wrong with you.

If you’re not comfortable settling for someone else’s definition of normal behavior, then that’s perfectly normal (pun intended). So many of us are busy fixing ourselves in an effort to fit in. It can stop a lot of us from stepping out into our own businesses or doing anything else we’ve been dreaming of. It’s hard to pursue a dream when we don’t feel worthy…when we think we need to be fixed in order to deserve it.

Everything you’ve experienced has given you what you need to go forward. But we’re not going to move anywhere if we don’t believe in our dreams…or ourselves.

Keeping Your Sanity While on the Corporate Payroll

Deborah A Bailey — Tue, 25 Oct 2011 02:15:49 +0000

There’s a myth that there’s a way to find a perfect work/life balance. However, in the real world things are never perfectly balanced, and at this point most of us aren’t even trying to make that happen. We’re doing our best to keep things running at home, at work and everywhere in between. In my last corporate position I managed to get my work done in my day job and do work for my clients. It wasn’t easy, but I was able to keep things going because I believed in my business dream.

If you’re finding yourself running in circles trying to keep it all going, you’re not alone. There’s more expected at work these days, and more effort required to build your business during these economic times. Don’t give up – though at times you might feel like running away! Here are some tips on how to get it all done.

1. Give yourself a break. There’s only so much that you can do alone. Don’t put pressure on yourself to do it all perfectly.

2. Create realistic goals for your business. Once you are managing your business full time you can set bigger goals. If you can delegate some tasks now, don’t be afraid to let go. It will give you more time to focus on the important things.

3. Don’t forget to set aside time for your family and for a social life. Most of us want to have our own businesses so that we’ll have more freedom to live our lives (and enjoy our friends and family). By focusing on work 24/7, we’re defeating the entire purpose of going out on our own.

4. Take time for yourself and get proper rest. If you’re run down you won’t have any energy to get things done. Not to mention that if you don’t have good health, it’s going to be very hard to run a business.

5. Don’t let office politics get in the way of what you are doing. Though you are in a day job, keep in mind that you have a business to run as well. Do your job and manage your career, but don’t get caught in the day-to-day drama.

You have additional responsibilities and pressures when you have a day job and a business. Even if you think of yourself as being someone who can handle it all, you also need time for rest, relaxation and fun. Building your own business can be extremely rewarding, but not if you burn yourself out in the process.

Three Things You Must Do if You Want to Experience Growth in Your Career

Deborah A Bailey — Wed, 14 Sep 2011 02:11:07 +0000

The career outlook has gone through a great deal of turbulence in the past year, with more to come. Whether you are managing a corporate career or a business, the old rules of career management no longer apply. Instead of sitting and letting things happen to your career, you must take action. If you are a business owner, maintaining and growing your business means you have to watch much more than the bottom line. Though there is a lot of advice around these days about how to make one’s job or business “recession proof,” you will be in a better position if you apply these three things to your management strategy.

1. Grow your network. Most jobs are found through networking. By keeping your network growing you’ll always have contacts to reach out to when you’re looking for new opportunities. If you are a business owner, contacts can mean the difference between a profitable enterprise and constantly struggling to find clients and prospects. Successful business people are always reaching out beyond their circle to form meaningful relationships. If you are growing an online network on a social media site such as LinkedIn, focus on the quality of your contacts instead of the quantity. You want to connect with people who will be sources of information and who can introduce you to additional contacts and leads. In addition, in order to be a master networker you should also be willing to reciprocate and share information and introductions when appropriate.

2. Don’t stay in your comfort zone. It is tempting to rely on past experience and skills and settle into a feeling of security. However, the next new thing is always on the horizon, and if you aren’t always learning you’re not growing. Longevity in your career or your business depends on your being aware of changing conditions – and knowing how to adapt to them. As we’ve seen with the automobile industry, ignoring changing business landscape and continuing with business as usual can have disastrous results. If you are willing to adapt and grow, you’ll continue to find opportunities to leverage your skills and knowledge. Don’t ignore changing conditions in the hope that they’ll quiet down or disappear. You’ll only end up in a situation where you’ll be stuck in react mode.

3. Keep your focus on the big picture. Stay aware of trends and events that may affect your career or your business. If you are only looking at news in your company or industry, you’ll only have a partial picture. If you own a business it is essential that you know what trends may affect your customers, suppliers and your competitors. What changes are you seeing in practices that may impact you in the future? In addition, being aware of what the big picture is means that you can play a bigger game. If you have an understanding of how trends will play out, you can be proactive in growing your career and moving forward. As a business owner you can avoid a lot of the churn your competitors will experience by being aware of what’s coming and how it can impact your business. You’ll be in a better position to make strategic decisions, as opposed to having no control when downturns hit.

Managing your career and your business involves more planning and vision than ever before. By being proactive in your approach and following the steps above you will not be caught having to react to economic churns and other events. People who are willing to adapt, look beyond what’s happening in their company or industry and stay connected will be able to experience continued career and business growth.

This article was originally published in Baseline Magazine

Take the Risk

Deborah A Bailey — Fri, 26 Aug 2011 00:53:09 +0000

Often people aren’t ready to take risks until they feel they have nothing to lose. That can come because of a loss of some kind or an event that wakes us up out of our complacency. The illusion of security is all too comforting, so much so that we can give up everything in order to preserve it.

I say it’s an illusion because there’s no sure thing. Just because you’re getting a regular paycheck doesn’t mean it can’t go away without warning. Your possessions can disappear in a natural disaster or be taken away. Too often we work at jobs we hate in order to pay for things that we really don’t need. Then we sacrifice our true desires in order to continue to pay for more and more things. The big houses and stuff filling the garages give us some sense of place. It’s as though the more space we take up with our stuff the more secure we feel. In the end, it’s all just stuff. If you’ve lived a life of compromise because you didn’t want to lose your stuff, you’ll lose in the end. As they say, you can’t take it with you, can you?

When I left the corporate world I didn’t realize how much of my identity I had to leave behind. My title and my job function defined me completely. My friends were from work, my income, my entire sense of self was tied to the workplace. My time wasn’t my own, seeing how it was regulated by the workplace as well. So when I decided to leave I didn’t know what to do next. When my contracting position ended, I was immobile for about two weeks. I simply sat and stared out the window, unable to take any action. For the year I’d worked at the company I’d done my job and actually enjoyed it. I came to think of myself as an important part of the department. I liked the people who sat near my cubicle and regularly ate meals at the nice cafeteria.

When I moved on I realized that though it was a comfortable situation, it wasn’t a permanent one. The world kept turning without me. My department got their work done, the people sitting in my section went on with their lives. My identity may have been my job, but what happens when the job goes away? If your sense of importance is tied to a job title and it ceases to exist, what happens to you?

Prior to the contract ending I’d seen a show on TV about a well-known author and how she went to a café to write everyday. I remember thinking how I wish I could do that and how wonderful it must be. Well, once the assignment ended I finally had my chance. Here was my opportunity to do the thing I craved and had wanted for years. But instead of stepping into it, I caved in and went looking for another job.

At that time I was in a position to take the time to write, but I didn’t see that. Instead the old programming in my head told me how wrong that was. I couldn’t just sit and write all day. That wasn’t a real job! Of course when I’d been paid to sit and write during my contracting assignment, the voice hadn’t had a problem with that at all. But that was a “real” job in an office, not me following some daydream.

The choices I made were based on fear of taking a risk. Instead of stepping through the open door, I ran to close it. After years of believing that I must work at a job I hated in order to make it, I refused to let go of that belief. I made choices based on my belief that I had to work to make things happen and not pay any attention to my real desires.

I followed other people’s advice, no matter how much I didn’t agree with it. I didn’t trust myself. What did I know? I invested in programs and paid people to help me who I was sure had all my answers. They didn’t. In fact in many cases they didn’t know much more than I did. My inability to trust myself led me into debt and anxiety over not being able to pay it off. I had simply recreated my corporate environment, except this time I didn’t have the regular paycheck. I was frustrated, fearful and angry at myself for getting stuck in the situation. Sounded just like how I felt in my last fulltime corporate job.

Finally with my back against the wall I realized I had nothing to lose by focusing on what I wanted. Continuing to do what I didn’t want to do wasn’t getting me anywhere, so taking a risk didn’t feel quite so risky anymore. That is what leads most of us to finally just do it.

Once you realize that the risk isn’t quite so risky, it becomes much easier to do what you really want. If you’re choosing between financial ruin and the potential for more ruin, that’s not much of a risk. Entrepreneurs deal with that risk and that reality all the time. They learn from it, then get up and try again. There really can be no failure unless you stay down. Otherwise, it’s a learning experience that teaches you what not to do next time around.

Excerpted from the book, “Think Like an Entrepreneur: Transforming Your Career and Taking Charge of Your Life”

Know About These Tips for Making Your Resume Stand Out?

Deborah A Bailey — Mon, 15 Aug 2011 22:13:06 +0000

Street Talk, Aug 13, 2011: MyFoxNY.com

Career expert and author Deborah A. Bailey shows how to make your resumes shine and stand out from the competition on this episode of Good Day Street Talk TV show.

Should Success be Quick & Easy?

Deborah A Bailey — Tue, 09 Aug 2011 00:52:55 +0000

If you’re a “Type A” person (like I am) then it’s all about being busy and getting results. At the end of the day you want to see what you accomplished. You set goals and expect to achieve them on a regular basis.

The catch is that when you’re in business for yourself, you might not see those results as quickly. When you make a change or introduce a new product, the result may not be as evident until time has passed.

Sure, it’s great to think that you can do something today and see it come to fruition tomorrow, but is that realistic? The overnight success we all seem to crave might take years to show itself. Are you looking at the big picture or do you just want what you want right now?

In corporate we just did what we told. When I went to my appraisal meetings, I could point to a list of tasks I’d completed and then wait for my (minuscule) reward. But in the entrepreneurial world, things are not that nice and neat. As the CEO, you have to take the long view. It’s not just about getting work done today, then getting a new task tomorrow. It’s about doing work today that will have an impact on what happens tomorrow, and the day after that.

What’s the Purpose of Your Work?

You might say that my work on the job had an impact on the company. True, but how often have you done work on the job (if you’ve been an employee) and you had no idea what your impact was? We might have been told about the short-term goals, and sometimes the longer-term ones, but usually we went from one project to the next. The end result was that we had no idea what our work was worth, and whether or not it served any real purpose.

But when you are the one running the show, you don’t have that luxury. It’s not about being busy for the sake of looking busy, or having something to put on your appraisal.

The decisions you make right now about funding, or expansion or hiring may (or may not) have an impact today – but you can bet they will over time. It can be easy to chase that bright shiny thing because you want to see it all happen right now.

Bright, Shiny Objects

And when that bright shiny thing promises you that it will give you everything without risk – today, in a week or in 30 days – it’s tempting to be all over it.

The Type A part of me loves stuff like that because I want to be sure. Just like in corporate, I want to complete my task so that I can get my reward right now. I want to skip all the discomfort and go right to success with no side trips.

Would be nice, wouldn’t it? But that’s not how it usually happens.

You will be uncomfortable. You’ll make mistakes and stumble from time to time. People will disappoint you, plans will go awry and some people will give you the side-eye because you’re not doing it the way THEY would have.

Getting what you want may take a long while, or it may happen much sooner than you expect. But doing busy work or running after this or that just so you can feel a sense of accomplishment (or quick, effort-less, no-risk success), will usually not lead you anywhere.

Deborah A Bailey is a writer, coach, and published author. Her book, “Think Like an Entrepreneur: Transforming Your Career and Taking Charge of Your Life” is available on Amazon.com and other online booksellers. She’s the creator and host of “Women Entrepreneurs Radio” a weekly internet radio talk show. Deborah has learned to look back fondly on her days as a corporate employee because it gives her so much material for her books and articles. www.dbaileycoach.com

How to Think Like an Entrepreneur

Deborah A Bailey — Tue, 26 Jul 2011 18:38:31 +0000

Listen to my interview on the Executive Girlfriends Group broadcast on Friday, 7/29 at 4:00 pm eastern time. http://executivegirlfriendsgroup.com/upcomingspeakers.html

The Executive Girlfriends Group is a Women’s Network, founded on National Girlfriends’ Day in 2008 by Chicke Fitzgerald. Chicke, a serial entrepreneur, author, speaker and consultant, is an expert in social media and hosts three radio shows on BlogTalkRadio. She founded Solutionz, a global consulting firm, in 1996 and Solutionz Media in 2009. Hope you’ll join us!

Executive Girlfriends Group video