Small Business Advice – Are You Tempted to Ride the Popular Wave?

Each and every day in the USA alone, more than 2,500 new businesses are started. Many of them are sole proprietorships created by people leaving careers behind and looking forward to a business that allows them flexibility and success on their own terms.

In 2007 I followed the same steps that many of you did. When I filed my business officially that year, I looked for knowledge and guidance to teach me what I needed to know to run a successful, home-based business. I went to the typical startup sources, like government agencies, local business development organizations, and the bookstore. I was disappointed to find that most of it really didn’t apply to me and was instead directed at a typical bricks and mortar or consulting businesses working in a typical office setting. On the internet, I found lots of information, almost too much, and it took me a lot of time to sort through it. I remember feeling overwhelmed and having to push down a rising sense of panic that I’d never master any of it, and would fail if I missed any important nugget.

It seemed like every second click led to “six figure secrets unveiled” and the “ten ways to make your fortune online.” As a business and marketing advisor, and someone who spent over 20 years in the marketing profession already, I remember thinking how fortunate I not having to learn it all from the beginning. But using the internet as a marketing tool to build a virtual business was new to me, so I signed up for more free classes, paid products and other offers than I could keep up with!

Since that time, I’ve worked with many entrepreneurs and I’ve heard a lot of discouraging stories of time, money and precious energy being wasted as a result of receiving overpromised, under delivered, inappropriate, ill timed or just plain bad advice. Here’s what can happen when you find yourself steered off your path:

• Your marketing can start to be really inauthentic, confusing your audience and making you feel like an impostor (or at the least, highly uncomfortable).
• You can develop a business that just doesn’t fit you, and feels like a chore instead of a joy.
• You can waste money on the latest hot ticket idea only to find it isn’t what your clients want, and it isn’t feeling good for you either.
• You create a business that sets you up to be your own employee, instead of your own boss.

So, here are some tips to help you stay focused and to navigate the choices wisely.

• Steer clear of anyone who tells you there’s only one way to do something. This is simply not true. It’s your business, and you have unlimited choice and possibility to create it the way that fits you.
• Watch out for the popular, hot ticket ideas. Like any other industry, there are trends and cycles. Evaluate these ideas carefully, and always measure them against what you want in your business, what your clients and market is asking for, and what they’re willing to pay for it. Riding the popular wave only works if you get on it before it peaks, and before it blends, indistinguishably, into the shore. If you’re not sure, invest in a second opinion before you go too far.
• Realize that throwing more and more money at a problem doesn’t mean you can fix it. If you don’t have a solid business idea, a clearly defined solution for a specific market, and a strong foundation for your business and marketing, no amount of window dressing is going to help.

And the most important of all? Entrepreneur, know thyself. Be clear about what you want, and when you seek advice or opinions, or learn from others, be sure you are “delegating” and not “abdicating.”

Want to use this article? You can as long as you include this footer: Sherri Garrity is the Chief Corporate Fugitive and creator of the Five Keys Success System™  for ex-corporate employees and aspiring entrepreneurs who want to break free from the confines of their corporate experience and live outside of the ordinary. The Corporate Fugitive system demystifies the business of setting up, managing, marketing and growing a successful and extraordinary business. Visit www.corporatefugitive.com for information and step-by-step resources to take you from overwhelmed employee to extraordinary entrepreneur.