Greetings, dear Stepper! Today’s post has:
- ’bout 1000 AWESOME words (4 min reading time)
- Some cool pics including one o’ General George Patton, one o’ the inside of my brain :-p
- Crystal clear wisdom… on GETTING crystal clear… about your small businesses’ growth
ON this blog normally I share:
But infinitely more important than the HOW-to… is the WHY-to.
See, this business building thing requires patience. It takes a willingness to try and fail your way to success.
Business ownership is quite a bit more rewarding than just showing up, being TOLD:
what to do…
and when…
and how…
and with whom…
and for how much…
…but business ownership does take quite a bit more active thinking and energy to get it going.
So, BEFORE jumping in with both feet to this entrepreneurship thang, let me caution you: make SURE you are cut out to do it in the first place.
Why “WHY” is More Important Than “How”
Along the way, your “how” is surely going to change. Plans change, goals don’t. What works today may NOT work tomorrow, and what worked for me may not work for you. Each individual’s path to success is unique, even as we strive to emulate those that have gone before us.
As General Patton put it… “If you tell people where to go, but not how to get there, you’ll be amazed at the results.”
(Read more General Patton quotes at http://bit.ly/1aIHuTU)
If you focus too much on what it is that you are doing, instead of where you are going, you’ll be overwhelmed.
If, on the other hand, you have an all-consuming fiery drive to get where you are going, nothing can stop you. And no one in their right right would want to try.
What is YOUR “Why”?
The answer to this question can’t be vague and forgettable. F’instance: “I wanna make a lot of money.” Well, DUH.
Actually, even the Scroogiest of misers will run out of gas on a thin vapor of a goal like “I wanna make a lot of money”. That’s because money isn’t worth anything… but that’s another post for another day.
Take a second and take stock: WHAT does the freedom, flexibility and earnings potential of owning your own small biz really MEAN to you?
- For a college student, a small biz with make-your-own hours might mean the flexibility to earn rent and beer money. Um, while still having time to study. Yeah.
- For a single mom, making a side income might be the route to quitting her job and having more time with her children.
- For a teenager, a small side biz could be a way to put money aside for a large purchase like a car. My son and I started a business that he’s using now to save for a car, though right now some of that income is getting diverted for paintball. 😎
- For a cubicle dweller that’s fed up with getting no recognition, lousy pay, and crappy hours… it might represent a way out.
- For a family on a tight budget, their side biz might be what they use to put aside cash to pay for a trip for four to Maui. Or a cruise. Or the glaciers of Alaska. Or all three.
- Speaking of families, a young couple might use their small biz to get ready to start theirs.
- An apartment dwelling dude that wants to quit throwing money away on rent can generate enough cash for a down payment on a house.
- For an enterprising soul that wants to become a millionaire: every single millionaire that I have met had a source of regular income… a J-O-B perhaps to keep the billz paid… while they also worked on a small business that became NOT so small.
This is inspiring: I have met, not one or two, but several Christian believers that used their small business to plant churches. That is, they worked FULL time on the church plant, while making a full time income with part time work. Out of necessity these folks learned how to work for free for eight hours, then use a side business to make four hours’ work to bring in eight to TWELVE hours’ income.
Between you and me, I think maybe they might’ve had a little helping hand 😉
The “Magic” of Having a Definite Purpose
There are perhaps as many reasons for starting and growing a small business as there are people that do it.
Above all, it’s important to become crystal clear about WHAT it is that YOU WANT.
Then the pieces fall almost magically into place.
Injecting purpose instead of chasing the latest and greatest tips and tricks is the only real– and lasting— solution.
Whatever your passion, goal, or cause… it’s THIS that you use to stoke the fire. Because starting and growing a business can be exciting AT TIMES.
But truth be told, MOST of the things that really make your small business to grow… are NOT exciting of themselves enough to get you out of bed every dang day.
Your First Priority: Get CLEAR On What You Want From Your Small Business
When folks consult with me about either starting a business, or more often, giving a shot in the arm (a.k.a., a whole slew of new customers without spending a lot on marketing) to the business they already own, the FIRST conversation we have is this:
“WHY are we doing this, anyway?”
Then we do the following exercise:
We put the name of our business in the center of a piece of paper.
Then we draw bubbles out from it and capture thoughts that we associate with the success of that business.
Then we go another step and draw out thoughts from those bubbles.
The result is a “mind-map” that gives you a snapshot, every day, of your highest purpose for growing your biz.
We hang this up in a place we’ll see it all the time… especially in a place where we may be engaged in the boring day-to-day tasks that
Once this category is handled, and made more and more clear… obstacles seem to fade away. The creative juices begin to flow. Stumbling blocks… turn into stepping stones… which turn into success.
Small Business Motivation: Fuel for the Fire
You might notice from my mind-map above that I am motivated many of the same things you are. Or maybe there’s not a single motivator there that we have in common. But that’s okay. It’s MY mind-map, so there! 😛
RECOGNITION is a big thing for me. I like to know that I’ve done SOMEone, SOME good. It’s more important to me than mon-ay. Nothing blesses me more than hearing from a client that the Shoestring101 Principles helped them to become more profitable with less bizzy work.
I appreciate the big smiles I see on the faces of the “self-employed and loving it” I’ve come to know. It’s something that keeps me awake at night, in a good way: I can’t wait to hear more.
FLEXIBLE. One thing that I appreciate about my Shoestring101 venture is that it gives me the opportunity to work flexible hours, scale as I go, and do the work ONCE that pays a continual dividend; a residual/royalty “autopilot” income. It’s a LOT of work now, with the promise of less work later for more pay.
TOTALLY PORTABLE. Flexibility is a big thing. I’ve been tied to one location for a large part of my adult life. My Shoestring101 business can be done from anywhere in the world, from Nicaragua to Australia to Ireland and Germany. It’s a totally portable income. Look for updates from these exotic places, and soon!
MY BABY. Shoestring101 represents control and freedom of expression for me as well. In one of my info-product ventures I “flipped” my website and with it, publication rights. Now, I got nearly $90K for that… plus a residual income that’s done VERY well so far… but it isn’t MY baby any more. If I want to add to my previous work, it’s got to go through proper channels. BLEAH. Well, part of my motivation behind Shoestring101 is that it can keep growing as I grow, and on my terms.
SHARING. I’ve been blessed. I have used the Shoestring101 Principles time and again to start with NOTHING but an interest or a hobby, and turn it into a five figure per month business or better. Now it’s time for me to give back by sharing these ideas and encouragement with others.
WHY the “Why?”
Steppers, it’s so DANGED important that you Ignite Your Passion. Everyone and their little brother can answer “Why? WHY bust yer rear end day and night working for nothing for a looooong time, doing mostly boring things, to build a business in which you’ll have to work even more?”
Most would say, “So I can make a lot of money.”
Puh-lease.
To me… and to everyone that actually develops the sticking power to stay to their guns and develop a lasting, strong and successful business that eventually brings them Five Figures per Month… it’s not the Five Figures that motivate them or they’d run out of gas, pronto.
Nope. You’ve got to take the time to figger out YOUR “Why”… not just the money, but what the money and the time represent to you.
It’s this critical WHY-to that you’ll need to refer back, time and time again… in order to stay on track.
And with that, let me challenge you to take ten minutes to map out a good portion of the rest of your life 😉 and post a comment when you have. This one exercise will be the most important business activity you can possibly do if you haven’t already.
See you in the comments!
Keep Stepping,
Kurt
Twitter: termlifepro
says:
I own a health insurance brokerage in Boise. My friends who have jobs say to me how lucky I am to be self-employed… LOL, being a small business owner is the hardest endeavor I have ever done. Know your why and try to like what you do! Love the Gen Patton quotes!
You can hire a good team to manage your business and help you have more increase sales and performance.
Much obliged for sharing quite an extraordinary post. I am cherishing all the tips you shared, I am keeping a psychological log of them to help myself along, bless your heart! I’m so cheerful I read this today.
Hi,
Thanks for sharing such a great post. I am loving all the tips you shared, I am keeping a mental log of them to help myself along, thank you! I’m so happy I read this today. X
Twitter: Afsin Disha Akhi
says:
Hi Kurt,
Great Post!
Very informative content. Thanks for sharing.
Wow!
Thanks for sharing
Twitter: Doerreviews
says:
It is definitely the why now a days. Why would anyone be interested in your product. Why would they buy. Also another big why is WHY wold they trust you with their money? Figuring this out is equally important.
Aatif Mahmood recently posted…ReSurge Review Boost HGH And Lose Weight Naturally!
Twitter: BestDogLtd
says:
Kurt,
I took a slightly different approach to documenting my “Why” and put my thoughts down on a PowerPoint slide (the IT geek in me comes out!) I have just printed it out and will tape it up where I can see it every day. I find this an extremely powerful way for me to achieve my goals. Here is my slide for reference (or critique!):
Best Dog is:
my exit strategy to my IT career. By Oct 1, 2017 I plan to build my business to a level where I can quit my IT job all together without risking my retirement plan – and by pursuing my passion of working with dogs and their people to build an enriched life for both.
Thanks for the advice and continuing posts – it helps push me just a bit further to achieve my goal! Thanks so much!
Nora
Twitter: shoestring101
says:
Nora!! I’m very excited to see that you are taking a passion and turning it into a way to pay YOU. One of the most fulfilling things in my life has been to take something I WOULD do for FREE… and manage to do it more often and on my own terms because it’s paying ME instead of the other way around.
Glad to see that you have caught the entrepreneurial bug. That’s what SS101 is all about.
Nora have you seen my Side Money Blueprints? I have a few suggestions to help you get your fledgling business FOUND by the folks that need it. Write me at kurt at shoestring101 dot com. Congratulations on this exciting journey you’ve begun!
Keep Stepping,
Kurt
kurtf recently posted…How to Validate Your Business Idea on Craiglist
Twitter: ipjrobson
says:
It’s funny when I went through the exercise(mind map) of why many of the things were already clear in my mind.
However, when I went about developing a second level of bubbles is when the real thought started to happen.
It feels like I always knew the why just never the how when it comes to business, but I am learning slowly.
High five for a great post
Iain recently posted…MYF Approved weekly Aug 6: Clear value proposition, adding value, and the balance of marketing
Twitter: shoestring101
says:
Thanks! THIS one was an unexpected hit; I didn’t think it would get the traffic and the interaction that it did. I guess the “WHY?” resonates more deeply with present entrepreneurs than I thought. I mainly wrote it as therapy and for clarity for ME.
Thanks for showin’ up again Iain! Look like I gotta fresh one o’ yers to go and read too. Enjoy the day and
Keep Stepping!
Kurt
kurtf recently posted…Growing a Small Business: Figure Out YOUR
You know, I made the grave mistake of jumping from one business to another just because I want to make money. But now, I make sure that I love what I’m doing and my business is something I’m highly passionate about.
Andy Bland recently posted…Auto-Responder.net
Twitter: shoestring101
says:
I remember the image of the cowboy teaching his son, “Boy, you can do a lot of things in yore life… but don’t you do a one of ’em JUST for the money.”
Rings true. Nothing wrong with making a living. But when the money only is the focus, sooner or later we’ll run out of gas and start taking shortcuts. That’s when people get hurt.
Glad to know that you’re in the business of serving others with passion now, rather than simply chasing the almighty dollar.
Keep Stepping,
Kurt
kurtf recently posted…Growing a Small Business: Figure Out YOUR
Twitter: inspireme_cafe
says:
I think it’s so important to figure out “why” you are even going into entrepreneurship. It’s a major step to take that will lead far from shore, but the adventures are worth the risk. When you get clear about what it is you want in life, it’s so much easier to create action plans towards those goals. I loved this article, and liked how it provided good action steps towards finding out your “why”
Amanda Rivera recently posted…BOOK REVIEW: Shark Tales: How I turned $1000 into a Billion-Dollar Business, Barbara Corcoran
Twitter: shoestring101
says:
Soo right. Because once far from shore, a clear “why” will help you navigate those rocky seas where it seems most tempting to bail.
Thanks for your comment, and heartfelt appreciation. That’s part of MY “Why.”
HEY! I noticed that you did a book review on a book of Barbara Corcoran’s. I am a fan, in fact she and Lori Greiner are my favorite sharks. I don’t own this title, nor am I an Amazon affiliate bcuz I live in Colorado. Be pleased to pick up my copy of this thru your link if’n you have one.
Heading over to inspiremecafe now. Keep Stepping!
Kurt
kurtf recently posted…Growing a Small Business: Figure Out YOUR
Twitter: lisamhayes
says:
Great post Kurt!
I know for sure I’ve started many a business with money as the why – which for me had a big shadow of fear.
Over the years, I like to think my why has matured with me. These days I have a crystal clear vision that my why is about the people I serve and my family.
It took time though. I think in the beginning I was so focused on my needs, that even if I was doing good work, I couldn’t see it. Now I realize my needs are always met when my clients needs are met. I also know a big part of my why is I’m just not good at doing stuff I don’t love. I’m a terrible employee. The good news is I have work I LOVE to the core.
I think when I started, my money driven why, was appropriate for where I was in my life. I couldn’t have reached for anything different. Growth changes everything, especially the why.
Twitter: shoestring101
says:
“Now I realize that my needs are always met when my client’s needs are met.”
Yup.
“Growth changes everything, especially the why.”
Double-yup.
😉
I read that Plymouth Rock was not the first ‘pilgrimage’ here to North America, it was Jamestown. It was a ‘business venture’… all men, all looking ot make their fortunes.
Dead to the last one, and quick.
On the other hand, Plymouth Rock was populated by FAMILIES, looking to make a better way of life.
They had something to live for… and did.
Thanks Lisa for your thoughts. Yes, I’ve found that many a biz that started out with money as the ONLY why eventually floundered, while bizzes that gave the owner a voice, a reason to serve, a higher calling of one sort or another thrived, even in the face of enormous challenges.
I wish the best for your biz as well!
Keep Stepping,
Kurt
kurtf recently posted…Growing a Small Business: Figure Out YOUR
Twitter: iamconsulting
says:
Interesting post Kurt!
It took me a little longer than I thought it would to map it all out but I finished it this morning. There are a lot of factors that really go into my why but there are three that really stand out…
Make my own schedule – This was important initially because I had a new baby and wanted to be home but still contribute to the family. It’s still important but has changed because I now create a schedule to provide balance between work, family and self time.
Get to help people – It’s inspiring to hear about why people started their own business because many of them are super passionate and that is amazing! Being able to be a part of helping my clients businesses grow and find success is so rewarding.
Get to geek out – I love data and research and when I get the opportunity (when a customer asks) I get to share some of that knowledge that I’ve accumulated over the last 10+ years of marketing. It’s awesome!
Maybe because of the way I got into starting my own business but “make lots of money” wasn’t ever a why for me. It’s a nice benefit of doing business the way I do but it was more like…”This is awesome! I get to do what I love and people pay me? Sweet!”
This was a great post idea Kurt, thanks for sharing your inspiration!
Nichole recently posted…Everything You Need to Know About Facebook Promotions
Twitter: shoestring101
says:
Thanks for sharing YOUR “Why” Nichole! It IS inspiring and rewarding to hobnob with other biz owners, isn’t it. We come from all kinds of backgrounds but all have one thing in common; a fierce independent spirit.
It’s contagious and it’s something I crave to be around… sounds like Sylvia and you do as well.
Hadn’t considered the geek thang but I think I’m guilty as charged there too! With 10 years of marketing experience you must have a lot to share. Perhaps all of us yapping here on this blog could become something more someday, sort of a mastermind group to help small biz owners from all walks. I sincerely hope so. IN the meantime I wish you clarity, focus, stick-to-it-iveness, and above all SUCCESS that fits your definition of success.
Keep Stepping,
Kurt
kurtf recently posted…Growing a Small Business: Figure Out YOUR
Twitter: iamconsulting
says:
Hey Kurt!
Thanks!
I’d totally be down for a mastermind group. It’d be fun for many of the same “why” reasons, plus creativity is contagious and I know I can always use a little boost!
I wish you the best of luck in all your endeavours as well!
Nichole
Nichole recently posted…Everything You Need to Know About Facebook Promotions
Twitter: shoestring101
says:
Groooooovy. I’ll put the word out to a few other blogger-types and see what we can come up with. You’re right about creativity being contagious.. and good things are catching up in here.
Keep Stepping,
Kurt
kurtf recently posted…Growing a Small Business: Figure Out YOUR
Twitter: shoestring101
says:
Thanks Sylvia! Yes, honestly I cannot think of an amount of money that really turns me on. I CAN, however, think of things that I can do with money that WOULD excite me.
My first info-product business was built to send my kids and me to a church camp/retreat. That was amazing… not making an extra three grand on the side in a month’s time, but taking my three critters with me to Estes Park for a full week and not putting it on a credit card to pay down for the next three years 😉
In the end, I’m sure that the success of my first info-product hinged not on making three thousand bucks (which, incidentally it STILL does even now after ten years) but on what I was focused on doing WITH the money.
Finding out your WHY is the most important part of any venture, IMHO. I’d make it a part of your biz plan advice if you haven’t already.
Thanks again Sylvia, and
Keep Stepping!
Kurt
kurtf recently posted…Growing a Small Business: Figure Out YOUR