How Long Does It Take To Get A Business Going?
By Mark Silver
Question: What would you think of
someone who said this to a five year old?
"It's about time you start earning your
keep! I want you to get out there and get
a job so you can pay your share of the
mortgage. And, while you're at it, here's
the keys to the car. Drive down to the
store and pick up some groceries."
Doesn't make sense, does it? This person
is either cruel, crazy, or out to lunch on
the next planet over.
This is exactly what many folks do to their
new businesses.
I know it's not with any ill intent. We've all been seduced at times by those
crazy messages: "Get your business from $0 to six figures in 90 days!" And it's
very tempting to believe them.
Who wouldn't want to go from scraping by to flying in 90 days?
Unfortunately, it's a myth, and rarely true- except in cases where the owner
has a lot of previous experience in another business.
A new business is a precious thing. It holds a beautiful jewel of intention and
generosity, and a lot of excitement and purity. And, it needs a lot in order to
grow.
Thankfully, it doesn't need 16-20 years before it can support itself like a
human child needs. But, it needs more than 90 days.
How much time does a new business need?
It needs three years. Of course, it will contribute to your income, often quite
substantially, even in the first year. But I've found that in many cases it takes
at least three years of dedicated effort before a business feels solid
underneath you, and can carry you.
Why three years? I've seen this in my own business, in my clients' businesses,
and, when I've spoken with other consultants and business educators, they all
seem to agree.
The first year, you don't yet know exactly what you're doing- you're fooling
around, creating, testing, having fun, seeing what's what. In the second year
you have your feet and some certainty about your direction. And, by the third
year, you've done it all enough that it feels familiar. There are many things
you -know- instead of guessing at, and that shows up in how you do things,
and how confident your customers are in you.
You can't really rush this process too much, because there is a wisdom born
of experience- and without a certain amount of experience, the wisdom
doesn't come.
And if it's older than three years and still isn't working?
Your business needs the same care and attention that your customers/clients
need. You've probably spent years getting really good at helping those who
come to you for help. Have you given that same care and attention to helping
your business?
If it has been awhile, I doubt that you need three more years to make your
business stable. But, you do need to go through the same process you did in
deepening your professional skill-set: learning from experts in business,
spending time practicing and trying things out. Above all, being patient with
yourself as you learn something new.
And if your business is in it's first year? The same lessons apply. And, be
gentle with yourself. Give yourself three years, so you aren't disappointed if
you are still learning and growing six months from now.
Bu...what do I do right now when I need to eat?
My whole intention here is to inspire you to have some compassion for
yourself, and some patience as you grow your business. And, don't worry,
although the metaphor is useful, your business isn't really a helpless infant.
There is plenty you can do right now.
Three Keys to The Care and Feeding of Your Business
1. Understand the difference between your needs and the business' needs.
You have specific needs- financially, emotionally, spiritually. So does your
business. In the beginning, you may not be able to fully meet each other's
needs. You might need money for rent, while your business needs money for
training and education.
Or, you might have a need for appreciation, but your business isn't
generating enough clients or customers to give you a steady diet of it. In
which case you may need another strategy to get appreciation, like from your
spouse, or mastermind group.
For instance, I found myself needing to work part-time at a J-O-B when I first
started out, because otherwise it was just too much financial pressure on my
new little business.
2. Don't be afraid to repeat yourself.
One definition of insanity is doing the same thing and expecting different
results. But another definition of business insanity is abandoning something
before it has a chance to gather momentum.
Here's where expert (read: 'experienced') advice counts for a lot. If you are
doing something that has proven itself in other businesses, trust it will work
for you, too. Tweak it, fiddle with it, work with it, yes, but don't abandon it.
Otherwise, you risk just repeating your first year in business over and over
again.
3. Limit your offerings.
Yes, you are experimenting and having fun early in your business (and
hopefully, later, too). But experiment and have fun within a very limited
number of offerings. By repeating offerings over time- the same product, the
same class, with different customers and participants, it allows you to get a
depth of mastery and understanding of the offering.
This in term brings greater confidence, a better customer experience, and the
ability for those customers to refer folks back to the same class.
For instance, there are two classes I've taught consistently for several years.
And, over time, they've developed, grown, expanded. They've become a
book. They've become consistent sell-out classes for a few years now.
There was a time when they didn't sell out. But I didn't abandon them. I kept
the momentum going.
Take care of your business in the early years, and later, your business will
take care of you.
About the writer:
Mark Silver is the author of Unveiling the Heart of Your Business: How
Money, Marketing and Sales can Deepen Your Heart, Heal the World, and Still
Add to Your Bottom Line. He has helped hundreds of small business owners
around the globe succeed in business without losing their hearts. Get three
free chapters of the book online: www.heartofbusiness.com
By Mark Silver
Question: What would you think of
someone who said this to a five year old?
"It's about time you start earning your
keep! I want you to get out there and get
a job so you can pay your share of the
mortgage. And, while you're at it, here's
the keys to the car. Drive down to the
store and pick up some groceries."
Doesn't make sense, does it? This person
is either cruel, crazy, or out to lunch on
the next planet over.
This is exactly what many folks do to their
new businesses.
I know it's not with any ill intent. We've all been seduced at times by those
crazy messages: "Get your business from $0 to six figures in 90 days!" And it's
very tempting to believe them.
Who wouldn't want to go from scraping by to flying in 90 days?
Unfortunately, it's a myth, and rarely true- except in cases where the owner
has a lot of previous experience in another business.
A new business is a precious thing. It holds a beautiful jewel of intention and
generosity, and a lot of excitement and purity. And, it needs a lot in order to
grow.
Thankfully, it doesn't need 16-20 years before it can support itself like a
human child needs. But, it needs more than 90 days.
How much time does a new business need?
It needs three years. Of course, it will contribute to your income, often quite
substantially, even in the first year. But I've found that in many cases it takes
at least three years of dedicated effort before a business feels solid
underneath you, and can carry you.
Why three years? I've seen this in my own business, in my clients' businesses,
and, when I've spoken with other consultants and business educators, they all
seem to agree.
The first year, you don't yet know exactly what you're doing- you're fooling
around, creating, testing, having fun, seeing what's what. In the second year
you have your feet and some certainty about your direction. And, by the third
year, you've done it all enough that it feels familiar. There are many things
you -know- instead of guessing at, and that shows up in how you do things,
and how confident your customers are in you.
You can't really rush this process too much, because there is a wisdom born
of experience- and without a certain amount of experience, the wisdom
doesn't come.
And if it's older than three years and still isn't working?
Your business needs the same care and attention that your customers/clients
need. You've probably spent years getting really good at helping those who
come to you for help. Have you given that same care and attention to helping
your business?
If it has been awhile, I doubt that you need three more years to make your
business stable. But, you do need to go through the same process you did in
deepening your professional skill-set: learning from experts in business,
spending time practicing and trying things out. Above all, being patient with
yourself as you learn something new.
And if your business is in it's first year? The same lessons apply. And, be
gentle with yourself. Give yourself three years, so you aren't disappointed if
you are still learning and growing six months from now.
Bu...what do I do right now when I need to eat?
My whole intention here is to inspire you to have some compassion for
yourself, and some patience as you grow your business. And, don't worry,
although the metaphor is useful, your business isn't really a helpless infant.
There is plenty you can do right now.
Three Keys to The Care and Feeding of Your Business
1. Understand the difference between your needs and the business' needs.
You have specific needs- financially, emotionally, spiritually. So does your
business. In the beginning, you may not be able to fully meet each other's
needs. You might need money for rent, while your business needs money for
training and education.
Or, you might have a need for appreciation, but your business isn't
generating enough clients or customers to give you a steady diet of it. In
which case you may need another strategy to get appreciation, like from your
spouse, or mastermind group.
For instance, I found myself needing to work part-time at a J-O-B when I first
started out, because otherwise it was just too much financial pressure on my
new little business.
2. Don't be afraid to repeat yourself.
One definition of insanity is doing the same thing and expecting different
results. But another definition of business insanity is abandoning something
before it has a chance to gather momentum.
Here's where expert (read: 'experienced') advice counts for a lot. If you are
doing something that has proven itself in other businesses, trust it will work
for you, too. Tweak it, fiddle with it, work with it, yes, but don't abandon it.
Otherwise, you risk just repeating your first year in business over and over
again.
3. Limit your offerings.
Yes, you are experimenting and having fun early in your business (and
hopefully, later, too). But experiment and have fun within a very limited
number of offerings. By repeating offerings over time- the same product, the
same class, with different customers and participants, it allows you to get a
depth of mastery and understanding of the offering.
This in term brings greater confidence, a better customer experience, and the
ability for those customers to refer folks back to the same class.
For instance, there are two classes I've taught consistently for several years.
And, over time, they've developed, grown, expanded. They've become a
book. They've become consistent sell-out classes for a few years now.
There was a time when they didn't sell out. But I didn't abandon them. I kept
the momentum going.
Take care of your business in the early years, and later, your business will
take care of you.
About the writer:
Mark Silver is the author of Unveiling the Heart of Your Business: How
Money, Marketing and Sales can Deepen Your Heart, Heal the World, and Still
Add to Your Bottom Line. He has helped hundreds of small business owners
around the globe succeed in business without losing their hearts. Get three
free chapters of the book online: www.heartofbusiness.com
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