MaryEllen Tribby: The Five Biggest Do’s and Don’ts in Business – Apply Them and Prosper

Image courtesy of samuiblue/FreeDigitalPhotos.net

It was just four years ago that I quit the security of having a wonderful corporate CEO job, working for one of the few thriving organizations in a dreadful economy.

Many people told me I was nuts. They knew that jobs like mine were few and far between.

They were right in saying that the unemployment rate was one of the highest our country had ever seen. They were right in saying that the housing market was in shambles. They were right in saying that the stock market was a mess. And, they were right when they said starting your own business was hard.

But what these naysayers did not know was that having a dream, a real dream that you believe in your heart and soul is stronger than a bunch of statistics! What they also did not know was that I was determined to be that bull in a bear market!

So here I am four years later to share with you the five biggest lessons that I have learned. I want to share my mistakes and achievements so that you can finally start your business this year and learn from my experience.

The Five Biggest Do’s and Don’ts

1. Don’t launch your new venture, regardless if it is a new business, a new product, or a new franchise in the beginning of January: I did this with Working Moms Only and boy oh boy – it was a big mistake and great lesson learned. Here’s the deal, you are always going to need help. Starting a new business will be your biggest priority. However, it will not be for those you are counting on. Many people check out during the major holiday season. You may be writing your web copy on Christmas Eve. But, I promise you, your web master will not be available for design issues. A current client who is very successful in his niche wanted to launch a brand new franchise in his company at the beginning of this year. One that requires the content of specialist in an entirely different niche. When he soon realized folks were checking out from work for the rest of the year as early as Thanksgiving, he quickly changed the launch date to mid-February.
2. No Bartering: So before getting your business off the ground, money may be tight. So you think, I can barter services. If I write copy for someone, maybe they in exchange will build my website. In theory this sounds great. But here’s the hard cold truth. The copy you may offer in exchange may not be needed as badly as you need the website. And suddenly the web person gets a great paying project. Where do you think your site that he is not actually making money on stands? Pay for services. This is the only way to make all your deadlines and have your important tasks completed professionally.
3. All Opportunities Are Not Created Equally: Once you are up and running opportunities for all different types of deals will arise. Don’t get derailed. Make sure you understand what any deal is worth to you on a long and short-term basis.
4. Vet Partners Carefully: Only work with people who have the same moral fiber as you do. Often thman on the phonee money can be tempting, but if your morals and values are so far apart, the relationship will come to an end. Before entering into any relationship do your research. Go online and read about the potential partner. Ask around your industry and listen to those you trust.
5. Keep Your Advocacy Shining: Remember you started your business because there was a certain market you wanted to serve. Just because others who do not fit your ideal demographics joined your community does not mean you shift gears. For example, I have many men who regularly read my Working Moms Only newsletter. Often, they write to me and tell me how much the advice I’ve offered has changed their lives. And inevitably they ask me to change the name of my site because he is obviously not a working mom. My response is always the same. I tell them they are more than welcome in our community. That I am happy my advice helped them. However, with this IMag my advocacy is for Working Moms. And that is the person I am thinking about every time I write an issue or add a new audio diary or book recommendation to our success club. That is the person that inspired me to start Working Moms Only. Previously, I’d simply make this statement and leave it at that. However, now that I have the CEO’s Edge in addition to Working Moms Only, I often suggest they read The CEO’s Edge instead. So instead of watering down your message, you can always start a new franchise to serve others.