BY: Minda Zetlin
Use the skills, industry knowledge, and contacts you have today to set your business up for success.
Sick of working for someone else? Want to go out on your own as a
solopreneur or running a small business, but not sure how to get
started? Don't try to make the leap all at once, advises Joanne Cleaver,
author of The Career Lattice.
"We think of becoming an entrepreneur as a one-way street," she says.
"You 'take the leap'--that's how we talk about it. You leave the staff
job and you become an entrepreneur and never go back." She recommends
taking a more open-ended approach, and looking at the many ways the
staff job you have now can set you up as a successful entrepreneur, as
well as the ways having been an entrepreneur can set you up to be
successful in case you decide to return to working for someone else.
With that approach in mind, these four steps can bridge the gap between employee and entrepreneur:
1. Decide between using your industry or professional skills.
"Let's say you're an accountant in a healthcare company," Cleaver
explains. "Maybe you want to build your business on your accounting
skills by opening an accounting firm. Or maybe you want to apply your
accounting skills within healthcare because you're really familiar with
that industry." For instance, you know that electronic billing is
creating big challenges in the health care field. So perhaps you want to
open a consultancy to help healthcare companies with electronic
billing.
2. Find the trends that are driving your industry.
Like electronic billing in healthcare, every industry faces its own
set of challenges and changes. Identifying those trends can tell you
where you're likely to find the most success. But what if your job
doesn't give you a good view of overall industry issues or future
concerns?
"Look at what associations are talking about at conferences," Cleaver
says. "If you can't go to conferences, you can still look at the
agendas. Read association publications and blogs. Find out who the
influencers are in your profession or industry and follow them. Often
stock analysts can give you good information about trends if you can see
through their temporary hyperventilating about ups and downs." Once
you've identified the key issues shaping the future of your industry or
profession, set up some news alerts so you start getting a steady stream
of information and commentary.
Another way to identify trends is to put your own company under a
magnifying glass, she adds. "If you envision yourself having a
relationship with your clients similar to what XYZ company has with your
employer, dissect that relationship." Take a close look at the current
factors that support your company's success (or lack thereof) with that
customer, and you can begin to understand how your company is filling
industry needs.
3. Find your sweet spot.
Once you understand industry trends, you can get a better idea of
what potential clients most need from you. "What do they need right now,
what will they need in six to 12 months, and what will they need in 12
months and out in the future?" Cleaver asks. Answers to these questions
should help you determine what offerings will likely meet with the most
eager reception from your potential clients. "If clients need something
now, you have a pretty good chance of turning that into a winning sales
pitch," she says.
An equally important question, though is this: What do you
want? If the answer is merely that you're sick of your job and want out,
that's not necessarily bad, but it's not enough. If you're running away
from something rather than toward something, your process will likely
stall at this stage, Cleaver says. "I get it, I've been there, but it's
not a long term success factor. You have to figure out what you want to
do, translate your ambition into a goal."
Once you answer this question, start looking for places where what
you want to do intersects with what clients need in the near term. Each
of those intersections is potentially your sweet spot--the place where
client needs dovetail with your skills and desires to create the
potential for a successful business.
4. Work your network.
Now that you know what product or service you want to offer, it's
time to use the connections you have for everything they're worth, both
to learn about your industry and potentially sign up new clients. "Go
ahead and set up an exploratory conversation with someone in
procurement," Cleaver says. "If you don't have direct contact with them,
you might meet them at a company mixer or connect with them on
LinkedIn. Start a conversation and say, 'I'm trying to understand the
industry better--do you have 15 minutes for a cup of coffee?'" When you
meet, ask your contact to describe the markers of a strong client
relationship, and don't settle for platitudes such as 'good service at a
good price.'
Keep your eyes open for opportunities that are right in front of you.
If you have a good relationship with your company (though not
necessarily with your boss) you may be able to use that relationship to
land your first client. "Who do you know who can recommend you for
things that fall into your sweet spot?" Cleaver asks. "Are they saying
that they need extra help now while they bring in a new customer, but
won't in six months?" If so, she says, that's an opportunity that you
can grab. Tell them you're transitioning from on staff to consultant, so
you can take on that extra work during that six-month period. Or, you
can double down--stay at your current job, but then work extra hours as a
consultant to help with the overflow. "The results will give you your
first marketing materials that you can bring to other potential
clients," Cleaver says.
SOURCE: www.inc.com
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