Today’s Entrepreneur is Yesterday’s Superstar Employee

Think about this headline for a little bit and then ask yourself this simple question: How did I get the confidence to start my own entrepreneurship? Understanding, of course, that your entrepreneurship is an extension of yourself, it’s reasonable to conclude that you have already proven to yourself that the skills, knowledge and experience needed to operate a business are all a part of your make-up, but had been honed during a former employment position.

You may have used this talent to catapult your employer’s company to super success status; but could not claim any more of the company’s success than what your position commanded, which was somewhat short of the value you added. Now that you are an entrepreneur with your own business that needs to be catapulted to success status, you’re betting on this same talent to take your business over the top; and that is certainly understandable.

However, you need a plan for your business and it cannot be the same plan used by your former employer; although the time and energy you put into it will undoubtedly be the same, if not more. Yes, you need a new plan for your new business. A plan that is just as good as or better than the one under which you became a superstar while carrying out the duties for your former employer. A plan to grow. A success plan.

Your strategy must be a proven one that has worked for small businesses as well as some of the larger companies; and it must be a strategy that is flexible enough to allow for the kind of adjustments that will become necessary as your business begin to grow and take on additional responsibilities, new staff and renewed objectives. Of this new staff, perhaps the most important part, is the sales staff whose function it is to promote and market your product/service, but also a positive image of your company.

Understand that no matter how small your company is, you can hire a sales force that can catapult company growth like you never imagined. Therefore your plan must supportive of astronomical growth and the strategy employed to execute such a plan must be instructive as well as thorough; taking into account that while you have a natural ability to build your own business, the help you will need to achieve massive success must also have “natural” ability or be capable of being taught to perform at the highest levels of achievement.

In other words, the kind of help you’re going to need is individuals who are considered to fit the profile of top producers in your type of business and you – based on your strategy – must be able to identify this type of individual based on a psychological profile, or the person’s past achievements. This type of person might be someone you can put in a bad situation with poor tools, no training, bad resources and still, within a few months, begin to out-perform any other individual within the same setting.

Since it will be your responsibility to select the kind of superstars you want for your company – as you had been when you were employed – you may be interested to know, if you don’t already, the two things that drive the superstar. They are both critical traits and they work perfectly together when you can find them. The first is empathy and the second is self esteem.

Empathy is described as the need to bond with others; to find something likable about every person. It is a wonderful trait to find in a salesperson and allows that individual to just keep going at the client every which way, trying to find more and more ways to serve that client, to please that client. Empathy is a key trait and part of your interview process – part of your overall strategy – must be specifically designed to find their empathy.

Self Esteem is described as a strong sense of self; and you have to recognize that great sales results come from people with very high self-esteem. Only a person with an extra dose of self-esteem persists with a client time after time even after the client has said no. People with weak self esteem will walk away after only a single rejection, because they fear rejection and therefore never actually close a sale.

Studies show that 48% of salespeople give up after only one rejection. Only 4% will try more than 4 times. Yet it takes 8.4 rejections to get a meeting, and even with eMail Marketing it takes 7 emails to a subscriber before the marketer makes a sale. What makes the difference between someone who will face that rejection one time and quit or 40 times and never quit, is purely personal self esteem.

Another aspect of a strong self esteem is personal ambition. Don’t you love it when you hire someone who innovates, expands upon and improves every single task you assign to them? You were that person with your previous employer, so it stands to reason that you will have a pretty good understanding of this type of individual, and as such will be profoundly empathetic to his/her desire to join your company’s sales staff.

Another characteristic of self esteem can be described as the need to please, which can make some people of this ilk seem overly eager-to-please in a job interview; but you shouldn’t let a little bravado put you off; it is the quintessential trait in every superstar. In an interview, the person is the product, so they must present themselves with confidence to assure you that s/he is the one you’re looking for. Such aggressive behavior will scare some employers, but it is exactly what you need in a salesperson, and something you know only too well.

Tips For Setting Up Your Own Business

Are you thinking about setting up your own business? Do you have an idea for a new business but you are unsure about how to proceed? If you have answered yes to either of these questions, this article could be of benefit to you. It covers various aspects of how to plan and create a successful small business.

Many people are looking at ways in which they can become self-employed as they have had enough of being dictated to, and they’re fed up with long and frustrating commutes to work. They want the freedom of being their own boss and to be able to choose their own hours of work.

It must be said however, that leaving a full time career can be quite a scary prospect. The security of having a regular income and other benefits such as a pension and a shared savings scheme can seem hard to let go. I am sure many people, whether rightly or wrongly, have opted to stick with this security and to merely keep their business plan as a back-up idea, which they never see through or use.

On the other hand there are people who are willing and happy to take the risk and see it as a way of getting out of the “rut race” (that’s not a typo!).

When you have an idea for a new business you then need to think of a name to call it. It would help to keep this name quite short as it makes it easier for people to remember. It obviously needs to have something to do with the type of business you are entering.

You will now need to work out how much money you will need to set up the business. This can be quite daunting but is essential. In the short term it would be wise to keep these start up costs as low as possible. You can always buy or rent better machinery in the future, as only on example of keeping costs low in the beginning.

Once you are aware of how much money you need, you then have to find it. You may have enough yourself via savings or a redundancy payout, however most people are not in this position. If you do not have enough money, you could try and raise money via the family, by seeking a partner or by tapping into the equity from your home. There is also the option of a business loan.

The next stage is to market your product or service. There are many ways of doing this including:

  • The Web via a website you create
  • An ad in your local newspaper
  • Direct marketing in the form of flyers & business cards
  • An ad in the local yellow pages and B2B pages
  • Exhibitions
  • Trade fairs and other advertising methods.

It is advisable that you find out where other people from your industry advertise as they will have tried and tested many of the above options.

You will need to work out how much to charge for your product or service. A good practice is always keep these charges fairly low in the early going so as to attract as many people as you can and to get some income in. Then you look forward to the time when word of mouth (and your other promotional efforts) take over after a few months you will be in a position to increase your fees.

It is also important to realize that you, like many new business owners (and some veterans) will make mistakes along the way. When this happens you’ll need to think positive and not to beat yourself up. Consider it an experience you can learn from.

Always have belief in yourself. Any business will go through a rocky period from time to time, but during these times is when you need to be strong. In my opinion the more work put in, the more rewards you are likely to reap; and this, ultimately, is the reason you’ve opted to start your own business in the first place. The rewards for you and your family!

Self-discipline is one of the keys to your success. Being able to choose your own hours of work may seem like a dream but it can prove to be the downfall for many people. Business owners and entrepreneurs have to ensure that we work the required amount of hours. It is far too easy to stay in bed for that extra hour or to arrange yet another game of golf. These things are fine once you are established, but this is a long way off in the early stages.