Presented By: Strictly Biz Inc. & Recycling Black Dollars

Presented By: Donyielle Holley, NLPCo-Director, Coach, Consultant &

Trainer

Entrepreneurial Success = YOU (Entrepreneur

Mindset + Knowledge + Execution)

+ Resources

Entrepreneurial Success = YOU (Entrepreneur

Mindset + Knowledge + Execution)

+ Resources

o

Adopted from the Small Business Administration (SBA)Questions to Ask Yourself to determine if you’re ready to go out on your own:oHave you ever worked in a business similar to what you are planning to start?oWould people who know you say you are well-suited to be self-employed?oDo you have support for your business idea from your family and friends?oHave you ever taken a course or seminar on starting and managing a small business?oHave you discussed your business idea, business plan or proposed business with a business coach or counselor?oDo you have a relative, friend or mentor who is an entrepreneur?

Evaluate Your Personality Characteristics:The more questions you answer favorably, the more prepared you are mentally to begin.oAre you a self-promoter?oAre you a self-starter?oDo you plan and organize well?oCan you handle pressure?oAre you comfortable with risk?oAre you physically healthy?oCan you work with opposite personalities?oAre you passionate about your product or service?

Evaluate Your Personality Characteristics:The more questions you answer favorably, the more prepared you are mentally to begin.oIs your drive strong enough?oAre you encouraged by setbacks/challenges?oAre you competitive?oAre you optimistic?oCan you handle criticism well?oAre you patient?oAre you decisive?oHave you considered how the business will impact your family?

o Persistenceo Desire for immediate feedbacko Inquisitivenesso Strong drive to achieveo High energy levelo Goal-oriented behavioro Independento Demandingo Self-confidento Calculated risk takero Creativeo Innovativeo Vision

o Commitmento Problem solving skillso Tolerance for ambiguityo Strong integrityo Highly reliableo Personal initiativeo Ability to consolidate resourceso Strong management and organizational skillso Competitiveo Change agento Tolerance for failureo Desire to work hardo Decisiveo Focuso Luck!

o Everyone is not meant to be an employee and everyone is not meant to be an entrepreneur. If everyone chose to be an entrepreneur, who would be the employees?

o How do employees differ from entrepreneurs?

o Planning vs. Doingo Business Controls and Necessitieso Focuso Work Habits

Identify Limiting BeliefsoI need to work very hard to have enough money to live.oNo pain – no gain!oI need to be rich to be happy.oSuccess takes a long time.oI can’t trust anybody.oMost people are luckier than me.oIt’s hard to recover from a bad place in life.oI’m not good with computers and this social media stuff.oI can’t win without other people losing.oI never get what I want.oOther people are better than me.oI do not deserve to succeed because __?__.oI can’t get what I want.oI have reached my limits.oI am no good with money.oI’m not good at learning things.

o Managing change really means managing people’s fear.

o Change is natural. Change can be good.o Nothing can be as upsetting to you or

your team as CHANGE.o Resistance to change comes from the

fear of the unknown or an expectation of loss.

o The ultimate acceptance of change depends on how much resistance you have and the quality of your coping skills and support system.

How do you initially react to CHANGE?

What things are happening in your life that impact your ability to CHANGE?

o

Living the 7 Habits: The Courage to Change by Stephen R. Covey

o The Heart of Change by John P. Kottero Who Moved My Cheese: An Amazing Way to Deal

with Change in Your Work and in Your Life by Spencer Johnson, M.D.

o Deep Change: Discovering the Leader Within by Robert E. Quinn

o Enlightened Leadership: Getting to the Heart of Change by Ed Oakley and Doug Krug

o Leading Change by John P. Kottero Thinking for a Change by John C. Maxwell

o Define, as specifically as possible, what the decision is that needs to be made. Is this really your decision or someone else's? Do you really need to make a decision? (If you do not have at least two options, there is no decision to be made.) When does the decision need to be made? Why is this decision important to you?

o Brainstorm, and write down as many alternatives as you can think of. Be sure to use your resources (experienced friends and family, the Internet, etc.) to find out more about the implications of each option.

o Visualize the outcome of each alternative. Do you feel more satisfied with one outcome than with the others?

o Do a reality check. Cross off those alternatives that most likely will not occur.

o Once you have made your decision, get moving on it. Worrying or second-guessing yourself will only cause stress. You have done your very best. Remember, no decision is set in stone!

o The fear of success can exist in your mind subconsciously. Most often, what is feared is a side effect of success. Certain concerns may include:

o If I am successful, will my friends become jealous and treat me differently?

o If I am successful, will my brother in law expect me to pay for his dinner when we go out?

o If I am successful, what new responsibilities will I now have?

o Will I be able to maintain the new level of expectations I create?

One of the strongest forces holding people back from their potential.

Slide along with the status quo “timing isn’t right” to “I don’t know

who would buy my product” to “I doubt I could support myself” or “my job isn’t that bad right now.”

o Nurturing Your Mind & Spirito Plan: Be In-Control of Your Dayo Prayer/ Meditationo Positive Affirmationso Mental Feedingo Visualize

o When I first created by business idea – What did I hope for? What did I dream about?

o What a vivid vision will do for your business.o Gives You Focuso Helps You Make Better Decisionso Keeps You On-Track

o 4 Steps to Creating a VIVID VISIONo Have a POWERFUL “Why”! (Go Deep to your

Core)o Use no-limit thinking (No Buts or What-Ifs)o Visualize in great detail (Use All of Your

Senses!!)o Be flexible in your vision (See the End, Not

the Journey)

ARE YOU PREPAREDTO WORK AS HARD

ON YOURSELFAS YOU WILL

ON YOUR BUSINESS?

Remember, an idea is only viable if people are willing to pay for it!

o Is your idea fulfilling an unmet need in the marketplace?

o Will you provide a better executed service than what currently exists?

o Have you designed a product in a better form that what is available?

o Is your product or service less expensive than your competitors?

o Are you solving a problem or taking advantage of an environmental trend?

o Journals, demographic statistics. o Research and define your target market and buyer

profile by:o Geographic – Where by region, size/density, type of

environment.o Demographic - Who by age, gender, education,

occupation income, nationality/race, religion, socioeconomic factors.

o Psychographic – Profiles your customer by life styles, personality, values, attitudes, morals.

o Behavioral – Profiles by brand loyalty, use, benefits sought, readiness to buy, decision making process and profitability.

o Competition: Who are they, where are they and what are they?

HOW BADLY DO YOU WANT YOUR BUSINESS?