Starting my business, I was completely lost when it came to pricing my services. I was terrified that I’d price my work too high, a mistake that could cost many tons of customers, or price way too low, a mistake that could cost me tons of money. Either way, pricing my offerings was (initially) a huge headache, surrounded by weeks of agonizing anxiety over whether or not my rates were “too high” or “too low”.
Truth it, selecting the right price tag can mean the difference between losing money or making money – in more ways than one. The wrong price can leave the entrepreneur missing would-be revenue, losing money on each sale, not selling anything, or unable to fulfill orders cost effectively. Any way you approach the pricing dilemma, research your competitor’s prices and undercutting them isn’t exactly a dream-formula for perfect price selection.
Type “entrepreneurship” into your favorite search engine and a popular – and unreferenced – definition is almost certain to pop-up:
“Entrepreneurship is living a few years of your life like most people won’t, so that you can spend the rest of your life like most people can’t.”
Did you catch that?
“…living a few years of your life like most people won’t…”
While there are hundreds of more academically-accepted definitions of entrepreneurship, this internet sourced description is most relevant I light of my entrepreneurial experiences.
Not businesses are a success.
While there are many factors influencing whether or not a business will turn a profit, all successful businesses start with one thing in common – a good business idea.
Aspiring entrepreneurs often run in circles, trying to figure out whether or not their latest hare-brained startup inspiration is financially feasible.
Will the business model work? Will it turn a profit? Will customers support their new business? Is there any way to know whether or not their business idea will work before betting the farm?
Good news: Entrepreneurs have a framework for testing business idea feasibility without diving in head first.
The fateful day of freedom has arrived – you’ve graduated college.
Peddling your bachelor’s degree, you carefully survey the selection of traditional post-grad opportunities and you find yourself saying, “WTF?”
Don’t worry – you’re not the only new grad that’s perceived the 9-to-5 as a slow death wish. It’s not for everybody.
So what’s fresh young talent to do when traditional positions just don’t cut it?
Here are three non-traditional post-grad options for the adventurous new grad:
2018 is just around the corner – New Year’s fireworks, parties, and the never-ending resolutions.
If your social media feed is anything like mine, it’s currently clogged with “I will…” and “My Resolutions…” posts.
Some resolutions have to do with personal development, like health and generosity.
Others are more professionally-focused, such as finishing a degree program or expanding a department.
This time of year, the New Year, is all about one thing – the future.
November 19th is officially proclaimed as Global Women’s Entrepreneurship Day (Yay!).
It’s a pretty big deal here in the United States, along with 143 other countries. If you are, by chance, in NYC this weekend, consider swinging by the United Nations or Athleta Union Square for some Women’s Entrepreneurship Day (#ChooseWomen) celebrations!
As a female entrepreneur, I’m pretty stoked about Women’s Entrepreneurship Day, as my entrepreneurial experience has been quite empowering. Not only did starting my own business help me achieve class mobility and higher education, but it also provided more freedom and resources for my family’s future.
Working from the comforts of a home office may sounds like a dream come true to most commute-weary professionals – virtual conference calls snuggled up to your pup, no more office-sponsored political coups, and enjoying all that extra time that doesn’t get eaten up by burning rubber back and forth, back, and forth, back and forth.
Transitioning to the ever-growing status of a work from home (WFH) professional can be incredibly liberating; however, like most work transitions, it can require a unique strategy to maximize productivity and keep you from feeling like you live in the office.
Here are three tips to help turn your WFH situation into am empowering career move:
Few things in life are a one-person show, and entrepreneurship – excuse me, successful entrepreneurship – is no exception.
Entrepreneurs need a team of supporters every step of the way.
Leadership guru John Maxwell stated, “Teamwork makes the dream work, but a vision becomes a nightmare when the leader has a big dream and a bad team.”
Assembling you’re A-team ASAP can truly be the defining factor as to whether your entrepreneurial vision becomes a dream or a nightmare. There are five key people that every entrepreneur should recruit to ensure career success.
Let’s check out the entrepreneurial dream team line-up:
Throughout the majority of my life, I’ve lived with an extreme level of social anxiety – like projectile-vomit-all-over-Brooks-Brother’s-suits-at-an-industry-networking-event level of anxiety.
I love meeting new people in small settings and learning about other’s life stories, but a tech conference filled with abrupt, in-yo-face “Let’s connect!”, “What’s your valuation?”, “Who’s on your client list?” makes me want to ditch the whole event agenda, hole up in my hotel room, and Wikipedia local historical sites.
It’s that bad.
I began my entrepreneurial journey in the era of boom or bust tech-based startups. The markets had crashed, national employment was in the crapper, and this thing called the internet was exploding almost overnight.
The popular business gurus hailed as the poster boys of success were the extremely extroverted, snake oil salesmen peddling “success” to all of us nearly-bankrupt professionals like a crack dealer cruising Beale Street.
It’s here –the day you take the leap into the wild and wooly world of entrepreneurship, leaving behind the security and stability of a “normal” job.
The leap is thrilling.
It’s also completely terrifying.
For myself, there were many nights during Year 1, Year 2, and a few in Year 3, where I laid awake wondering, “What in the @*&% did I just do?”
Looking back, there were several key actions I should have taken before quitting my job to go full-time in my business. They say hindsight is 20/20 – well, maybe a few aspiring entrepreneurs can glean some wisdom from the things I wish I’d known.
Here’s the scoop on 5 things you should do BEFORE you quit your day job and dive headfirst into the world of entrepreneurship: