What a great idea… or maybe not?

business startupBusiness startups – starting a business in some ways has never been easier than it is today.

With very little capital lots of businesses can be started from home with just a laptop and a phone with the dining room table as the office.

But before you go ahead and start there are always obstacles you will encounter and you need to be prepared to handle them. Whether you have a business that succeeds and generates the income you need will depend on firstly you, and your ability to handle issues and then whether you have a product or service that people will buy.

Let’s look at the easy one first – have I a product or service people will buy?

That is a great question and get answers to that first before you start burning money on an idea that doesn’t make you the income you need. Business startups mostly fail because great ideas don’t necessarily make great businesses.

There is lots of advice that will help you answer the very basic question of supply and demand and at the very basic level look into “Turn your idea into a business” and the 5P’s of Marketing

  • The 5 “P’s” of marketing include:
    • Product – The products or services you offer.
    • Price – The strategies you use with regard to pricing your products or services with the goal of making a desired profit margin.
    • Place (Distribution) – How you get your products or services to your target market.
    • Promotion – How you communicate the features and benefits and endorse your products or services to your customers or clients.
    • People – The value your people bring to your business by providing service to your customers and clients. In the first instance that’s you, the owner of the start-up.

This article Top tips for starting your own business” by Peter Day, Presenter, Radio 4’s In Business  has some practical tips to follow.

But as I said, that’s the easy bit of a new business startup, now what about you? Are you prepared, are you Mind Fit to start your own business?

Are you :

Mind Fit People.able to think flexibly and appropriately

Mind Fit People.emotionally competent and resilient

Mind Fit People.driven with a real sense of purpose

Mind Fit People.able to connect meaningfully with others

because the more you are the more successful you will be. Many people have a great idea, do the research to make it a viable opportunity and one that could become a successful business but then hold back and don’t take the next step.

For a variety of reasons great ideas that would make a good business startup never happen. If there is a commercial business the underlying reason why they don’t get started is fear – fear that’s imagined or perceived but none-the-less real to that person.

But don’t be worried, you are no different to anyone else here and we all feel something. If it’s the first time for you it’s a step into the unknown, however much commercial sense it might make. But you have been in similar situations before, we all have – when we first walked, started to ride a bike, first day at a new school.

For many of us having a sense of purpose generates the drive and determination to do something new but even then there is fear of failure. For some having to deal with lots of people in pressurised surroundings will cause more anxiety.  A lack of confidence and credibility may be overwhelming.

So how do you over the fears and become Mind Fit for your business startup?

Here are some top tips and we will start with the 4 Global Strengths  :

  • Awareness – Biology, Psychology and Neuroscience informs us that 95% of our decisions, actions, emotions and behaviours are driven from a subconscious level (what we do automatically without thinking). By increasing our awareness and challenging our beliefs and what we do, we can take more control of ourselves and make those changes in life and business that we choose to make.
  • Control – People with confidence have a positive and flexible mindset, they are resilient, they are ‘Mind Fit’. They have developed a capacity to learn from past experience (not hold them back) and move forward towards a future they choose,  whilst focusing in the present moment at what needs to be done. If they cannot control something they let go and focus on what they can do.
  • Focus – To change and improve what you do requires focus on what task is really important at that moment in time, not worrying about future tasks. In time you can create a powerful habit and be in a state of ‘flow’ which is an effortless state of performance in which you are completed absorbed in the task and lose track of time. (Just like when you’re watching a good film or reading a good book)
  • Feedback – We all need feedback to know if we are on the right track, so seek immediate feedback from whatever source is available. One of the most powerful and least used is from our self. Become aware of what you did and how you did it then look for how effective it was. Learn from every experience. We are designed to do this!

And here is a Daily CheckIn sheet that will help you be more aware of where you are on the Mind Fit Map. It’s yours to use however you want to and we would suggest you write down how you’re feeling about what you are doing at the time as you will become more aware of what’s happening and that is the first step to finding out how to deal with it. You will be able to deal with some of what you find out yourself but for other issues you will need help. For instance if you find you procrastinate a lot and make excuses to not pick up the phone and make the call – take a simple action and pick up the phone, because that’s important to you and the business.

The bottom line to being Mind Fit is making common sense your common practice.

If you are on the road to being Mind Fit first you will be more successful and you will be ready to decide whether a business startup is for you.

 

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