Tips for a First Time Business Owner | Must Have Checklist

Define your Target Audience

You need to be specific as possible who you are targeting. Not everyone is a potential client. The more specific the better.

For example:

I’m targeting professionals with newborn children between the age of 30-45

I’m targeting business owners with 10 or fewer employees

I’m targeting newly retired blue-collar workers who have a need for income

Differentiate Yourself

We are in a replacement market, not a growth market. Most professionals dress the same, sound the same, and it’s boring! Being yourself & unique, will help you obtain more prospects and allow you to separate yourself from the competition.

Having trouble? Read the book “Start with Why” by Simon Sinek. Remember, people don’t buy what you do, they buy why you do it.

Get Involved in Activities You’re Passionate About

Nowadays, networking is not working. Remember, you need to differentiate yourself and telling people you’re an “SEO Expert” “Financial Advisor” or anything between at networking events & slinging business cards, is a waste of your time!

On average, it takes about 4-6 months from your initial meeting to closing a new client. By getting involved in organizations, sports, or activities that you’re passionate about, you will attract the right kind of people into your practice.

Wait 6 Months Before Asking Friends & Family

One of the worst things you can do is bring on friends & family members only to find out that the business you started isn’t the best place for you to succeed. Not only will they respect your answer that you want to wait, but it also shows that you’re mature, not just a business owner who accepts any new business that comes their way.

Sign Up for Continuing Sales Training

Any Firm that you join is going to have their “preferred” way of doing business. However, we are human beings, not human doings and not everyone is going to thrive in the same way others do. The CEO of your new firm (You or Your Partner) likely has a different perspective on things should be done.

Find a sales coach to help guide you through your new endeavor and continue learning every single day. Because if you’re not getting 1% better than you’re getting 1% worse.

We have experience with Live Large Coaching & Benchmark Training

Happy Slacking,

Joshua Krafchick, AKA “CHACHI” 

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