Undiscovered Advice ep.8 5 Entrepreneur's advice

Advice 8 final

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[00:00:00] This is an undiscovered legacy production. Just keep going. Keep pushing through. Know your target market and the people you want to serve. Just keep going. Just keep going. You have to schedule it. Focus on what you're doing. Always respond to criticism with professionalism. Focus more on building yourself.

Don't ever give up. Finish it yourself.

Welcome school believers and new entrepreneurs to Undiscovered Advice. We will be listening to five entrepreneurs with amazing advice just for you. Let's see what they have to say.

Hi Jesse, it's Jen. I'm so sorry that this has taken me a few weeks to do. Um, I just wanted to give my tips from my experience so far as a entrepreneur. Um, it's your [00:01:00] business and it's your rules. People pay for the quality and experience of service that you bring to them. If something doesn't work for them, if the hours, if the time, if the cost of working with you is not something that they can meet, that's not your thing.

People are at different levels and in different places in the world and in their work and in their businesses and you have to focus on what's best for you. It's so, so easy to people please and want to help every person that you come across. But there's no point helping other people if it doesn't help yourself.

One of the biggest lessons that I learnt was, if people can't afford to work with you, if people don't respect and understand and appreciate your experience, they may make you feel as if you're asking for too much. You're not. You're not asking for too much, you're asking for your worth, and it's really important to remember that.

And one last thing from me, is [00:02:00] never be surprised by what someone might say. You might finish work on a Friday and everything be fine, and by Monday, someone's whole idea of your role could have completely changed. And with time, boundaries and goalposts can be moved. So it's really important to make sure you're very clear, you have clarity over any work that you do with anybody, and you make sure that there's a backup.

Is it in writing? Is it in a recording? Is it in a task management tool? Because sometimes the most loyal people, or the ones that you think are loyal clients, Can soon switch up when something doesn't exactly go their way. And that's not to say that it's your fault. Sometimes you other pe, you other person in the firing line, in this sole trader, entrepreneur type life style, it's.[00:03:00]

You're not to blame, but sometimes you're the closest person to that director, to that business owner. And therefore, the emotion and the stress and the pressures that they are under can be projected onto you. But you are not an emotional sponge, and that is not your role. So, I, in my experience, make sure that I'm very clear on what my boundaries are, what the expectations are.

and what I can actually do. I'm always very honest. And anything that I can't do, I am honest about. Because then there's no faults, there's no false boundaries, or expectations, and everybody's in the same page. And I think it's really important to always be on the same page. Music Music Music Hello! This is Tina Meeks with SCORE Services.

Financial Prosperity Expert. for allowing me to [00:04:00] take the time to share. Some very good advice for new entrepreneurs. So there's three strategies I use to maximize profitability. And what I've learned is you can have the best systems in place and the best day to day processes. But if you don't have the right people in the seats to manage them both effectively, Your profitability will suffer.

Scenario two, you can have the best team in the seats, but if you don't have anyone monitoring the accuracy of the system flow of transactional data or keeping your day to day processes updated, your profitability will suffer. It takes your system, your day to day processes and the right employees. to maximize profitability.

I have proven this over and over and over for 20 plus years. [00:05:00] I worked as a financial controller and many years in accounting, and my specialty is streamlining processes for maximum profitability. System, save yourself some time, energy, and money. It's that simple. So for any good advice I can give to new entrepreneurs, Utilize systems, processes, and make sure that you're finding the right staff for your company.

Put them in the right seats. No need for stress because the financial part alone I know is a lot of work. So thank you for letting me share this valuable information for new entrepreneurs. My name is Tina Meeks. I'm with score services known as the financial prosperity expert. Have a good day.[00:06:00]

Hi there. It's Dr. Lisa L. Campbell. I want to thank you so much for this opportunity to provide. Some words of wisdom for a new entrepreneur. I am president CEO for Dr. Lisa L. Campbell incorporated, which is a business that I started in 2022. However, I have been an entrepreneur since 2002 when I established Physician Practice Resources Incorporated.

October 2023, I had to make a hard decision, and that was whether or not my life My finances would be sustainable, continuing to operate physician [00:07:00] practice resources. Over the years, I had some good times and I had some bad times. And making the decision to close the business was one. That really sent me through some emotional changes and those emotional changes were due to the fact that I had spent, you know, years pouring into the business with personal funds at the very end of the business.

Um, the last year or so, I got a personal loan or a business loan. Um, I was able to obtain business credit. But guess what happened? I didn't have any clients. So the business was booming until it wasn't. So what piece of advice would I give a new entrepreneur? Oh, I have so many. I think [00:08:00] one is related to finances.

I think that, uh, as entrepreneurs, we don't realize that we are the, uh, CEO, CFO, We're the director of operations. And yes, you're going to have. professionals who help you from a high level perspective, right? So I have a CPA, I had a bookkeeper, but I think that I thought because I had those individuals in place that I needed to be hands off.

And from a financial perspective, I learned some very valuable lessons, um, in terms of if I had to do it all over again, I definitely would not have gotten, um, that business loan, um, because no business. But a loan that you sign off on. As a personal [00:09:00] guarantor of the loan means that with no business, you're still responsible for the loan.

So I know this is long, but, um, I think finances definitely is, is something that I think all entrepreneurs need to understand. You need to. Not only have a system for managing your books, but you need to analyze them, right? So I had QuickBooks and QuickBooks is a very robust system with all kinds of reports and things, right?

But I did not take the time on a regular basis to look at that those reports What was the financial health of my business and towards the very end? I started realizing the things that I was paying for that I didn't need to pay for. And so as I operate under my new business, which, which really is not requiring me to have a large team, [00:10:00] I'm really very strategic about finances.

So I guess my, my one piece of advice is around finances. You've got to be aware of what's coming in, what's going out. And you have to be willing to make some tough decisions. We're often told that, you know, you have to have a, as a small business, you got to have a big business mindset. But sometimes if you take on more than you can handle, You are going to pay for it in the end.

Thank you so much for this opportunity, and I hope this is helpful.

Hey, hey school believers. This is Clarissa Castillo Ramsey. I am a multi passionate creative entrepreneur. What does that mean? It means I'm a lot of things. I'm an artist, a transformational coach, and an organizational [00:11:00] psychologist. And I'm also the author and podcaster of Painting Your Path. So thank you, DJ Scoob, for this opportunity to share.

And this insight is especially for people who identify as multi passionate. Who are thinking about getting into a service based business like coaching, consulting, or teaching. And here is my advice to you. Test it and see. If I could start all over again, I'd explore. Coaching all the different types of clients I wanted to potentially work with.

We often hear niche town, niche town, and yes, the riches are in the niches and if you're anything like me and have specific different interests, trying to niche [00:12:00] town or niche town right from the beginning, that is very, um, Goes against the grain of, of all my being, and I just want to share with you, there is nothing wrong with you for having multiple ideas that you want to explore.

So, how can we do this? How can we do this? So put yourself out there and test it and see. Example, identify the different people you'd like to work with and put out a social post saying something like, I'm looking for three people who need support with X problem. Would you be open to having a 30 minute conversation about?

X problem. Then make another post. I'm looking to speak with three people who need support with Y [00:13:00] problem for a complimentary 30 minute coaching session. And let's say you have a third type of person that you're interested in working with. Put another post on social media. I'm looking for three people who would like support with Z problem.

Um, for a complimentary 30 minute session and after this experiment, ask yourself, how was that? And chances are you can figure out a starting point, but that is something I wish I wanted to have done at the beginning. The other piece of advice I have for you, because yes, I actually have two pieces of advice is.

That inspiration and motivation are fleeting, so it's time to embrace failure, and failure is nothing more than a first attempt in learning. First attempt in learning. And I heard [00:14:00] DJ Scoop talk about this, so just reinforcing that message. But how do you do that? How, how do you keep going when you don't want to fail, right?

Nobody does. So let me give you two things that you can do. The first thing is to keep a Hypefile, H Y P E. I heard this from Marie Forleo. I gotta give her credit. And basically, your Hypefile are text messages, emails, voicemails, from people in your life who've given you positive feedback. This is a reminder that you've already succeeded.

So, pull on it when you're starting to feel down. The second thing is to take care of yourself, because without you, there's no business. So, take time and put together your self care plan. Walk in nature, breathe deep, take a dance break, whatever it is, but have that plan [00:15:00] ready for when you don't feel so great.

So that's it. That's what I have for you. And if you'd like to connect further, I also want to share a free gift for you. It's a five step framework to help you accomplish whatever goal you have in mind. You've got this. Good luck and be in action.

Hi. This is Adolfo Gomez Sanchez from gold results, www. gold results. com. And thank you for having me on the show. Um, so the answer to the question of what's my advice to entrepreneurs, I would normally focus on the following five things. [00:16:00] So the first one is make sure you choose a mission that you care so much about that you're able to withstand any part of the hard road ahead.

Uh, being an entrepreneur is really tough and there'll be moments of doubt and it's never a linear, uh, you know, path directly just going up. So you have to be able to remember why you started and have something that's important enough. to you to get you through those tough moments. Second piece for me would be to design a road map.

So, uh, we know from the work of Dr. Anders Ericsson on deliberate practice that anything great takes time to work. And, and I'm not saying weeks, you don't become a, um, you know, a concert pianist in three weeks and you don't become an MBA pro in three weeks. Um, so if you want to build something, if you want to be disruptive and an industry leader with a small business, then you, you need to have a road map.

To take you over time and give yourself enough time to do that. Um, and when you have the roadmap, what it does is it positions every small step, every sacrifice you're doing when you're doing the [00:17:00] dirty, you know, boring work, it puts it in the context of the bigger mission and that keeps you going again.

And it helps with the rough times. Um, I'd say the third thing is. Be realistic about what it'll take. So, and I'm not just talking about money, although entrepreneurs tend to underestimate, you know, the oxygen they'll need to, to get up to profitability. But I'm talking about sacrifices, efforts, you know, the lonely moments, what you have to go through.

Um, everyone does it. Um, and it's the ones who stick often stick to it and keep going are the ones who will make it through. Um, so a lot of great performers be that in business or sports. So, you know, Steve Jobs, Kobe Bryant, I've been classified as obsessive. Um, and I know that word gets bad press, but depending on what you're aiming for and how ambitious you are, you actually may need to have that kind of dedication.

So be ready to put in what it takes and be ready to hang in there for the longterm because it's, it's a really tough road. Um, I guess the fourth one, fourth one would be accept that you probably won't get it right in the first [00:18:00] time. Um, entrepreneurs think they've got a magic formula and when it doesn't work exactly how they thought.

They'll either quit or they just, you know, think they made a mistake. But if you look at all the great big companies, Amazon was an online bookstore. Facebook was just for university students and on and on and on. Um, and so it's really about never wavering on your mission, although you may have to flex on how you get there.

Um, so, you know, relentlessly evaluate, modify, test, retest, reevaluate. Um, and that's something you for, because it's very rare that you get it in the first shot. And I think finally is, uh, be authentic. Um, so I think you need to find your own route. Um, and that sometimes is, is a route that people, others don't understand.

And people may not even understand the impact of your positioning or your idea. Um, and I've often done things in my career, which seemed like a step back, but they in fact, just strengthened me in certain areas and allowed me to later take a jump to the next step, um, to the next level, excuse me. Um, so make sure that whatever you're [00:19:00] doing is, is aligned with who you really are, and again, that that's going to get you through the rough.

Spot and it's going to keep you going because you can have, you're going to be linked. That mission is going to be a part of who you are because part of your identity. Um, and I think the only final one I'd have is especially for entrepreneurs who come from a senior. Executive role working for somebody else and launch out on their own is don't be afraid to get your hands dirty.

Um, I, you know, there's nothing that can substitute the work and the, and the commitment, uh, and the drive of an entrepreneur, especially in the early days. And so you can't just sit, just put the money in and then subcontract someone. You need to be there. It's your baby, it's your dream, and you need to be there.

Um, so I would say those are the key steps that I would say to entrepreneurs. Obviously each one of those can be a long, long discussion. Um, but thanks, thanks for having me on. It was great. And I hope this was helpful for some of your listeners. Cheers. I would like to thank all entrepreneurs that took the time out to help new entrepreneurs get across that start line [00:20:00] with their amazing advice.

If you'd like to contact any of these amazing people, check out their information in the show notes. Are you an entrepreneur with amazing advice and want to be featured on Undiscovered Advice? Go to tuepodcast. net backslash advice and leave your advice in an easy recording. Undiscovered Advice is a product of Undiscovered Legacy LLC and a proud member of Blind Knowledge and PodNation Podcast Networks.

For more information, go to uepodcast. net. Thank you, school believers.