Scalability is one of the most important factors for entrepreneurs considering starting a new business or hoping to take a current business to the next level.
Successful business growth depends on a scalable business model that will increase profits over time, by growing revenue while avoiding cost increases.
One mistake I witness a lot of new entrepreneurs make is quitting their job prematurely without taking the time to build their business while working a 9 to 5 or simply not counting up the cost altogether.
Entrepreneurship is truly rewarding but it doesn’t come without making tremendous sacrifices. Pursuing your dream can cost you everything but it’s worth everything it will require of you in the end.
I spent 4 years building my business while working in a 75-90 Sq ft cubicle in Corporate America. I was absolutely miserable on my job but I kept the end result in mind. From 2011-2014 I was consistent, dedicated and focused. I would coach clients on my lunch break, write books during my free time and run an international magazine publication in the evenings after work as well as weekends. During this time I completely dedicated myself to raising my daughter, serving in my local church and pursuing a path of entrepreneurship.
In October 2014 I attended Woman Thou Art Loosed hosted by world renown leader and entrepreneur, Bishop T.D. Jakes. It changed my life FOREVER! (I am pictured above with Grammy Award Winning Gospel Artist, Myron Butler & his team- HOW AWESOME WAS THAT!)
I was also there to cover media for my publication at the time, Women of Standard Magazine however, I didn’t feel this opportunity was a coincidence.
I arrived in Atlanta fully focused and one prayer are the forefront of my mind, “Lord, is it time for me to leave my job?” I had written and released my first book earlier that year entitled, “The Power in Waiting,” and guess what the theme of the conference was: THE WAIT IS OVER! Come on guys! That was my “confirmation!”
So I did it! I turned in my letter of resignation and it was on after that!
Was I afraid? Sure I was. But that’s what taking a leap of FAITH is all about. There are no certainties. My cushion from my 9 to 5 was now gone and I would either sink or swim.
So I went for it! I swam for my life and today I’ve built a 6 figure business with the help of many mentors, my amazing team & supporters who patronize my business from all over the world.
Entrepreneurship is possible for you, but you must be serious about what you SAY you want and take the necessary steps needed to be successful in life AND business!
Today, I’d like to share 3 Things to Keep in Mind When Starting a Business:
- Clearly Identify Your Objectives– WHAT will your business consist of? WHO do you desire to serve? HOW do you intend to do it?
- How Will You Stand Out in a Crowded Market?– With many of us pursuing our dreams and aligning goals to do so, there will be others who are on the same path as you. What will set you apart? What will you do differently? What will be your USP (What I call your Unique Serving Proposition.) Positioning in the marketplace is so important.
- How will you fund your vision?– When you venture out to start your own business you are responsible for funding it. Sure, you have options of taking out a business loan or establishing business credit BUT what if you changed your perspective about your current job & viewed it as your #1 INVESTOR? Being an entrepreneur takes discipline but it also takes financial resources. It’s important to develop a budget, know your numbers to the penny before branching out. It’s always wise to ensure you are making money residually before stepping out on your own.
Did you find today’s topic helpful? Feel free to comment below, share and if you desire to work with me 1-on-1 I’d be honored to serve you. Visit www.CarlaCannon.com!