Are you ready to becomean entrepreneur?

TO ASK YOURSELFBEFORE YOU MAKE

THE LEAP

9Que�i�s

Find out if you are ready to leave your job,replace your income, and make an impact

as an entrepreneur.

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Are you thinking of leaving your corporate job to start your own business? You’re not alone. 1,821 women launch a business every day. 75% of those initiatives will fail. How can you avoid being one of them?

Many women are opting to control their destiny and income through entrepreneurship, because:

But… Entrepreneurship is not for everyone. How can you tell if it’s right for you?

� They make a direct impact through your work.

� They enjoy freedom and flexibility and control how you spend your time.

� There is no glass ceiling on your success and no limit to what you can earn.

Are you ready to leapinto entrepreneurship?

One of the biggest challenges you may face in making this decision is time. It’s important that you have realistic expectations for how long it might take to settle into a solid direction for your business and generating consistent revenue.

Too many coaches, consultants, trainers and other services professionals expect success to come soon after they have earned the credential or written their book. The truth is, it takes time to find your niche and craft your unique value proposition. It’s a crowded market, and you need to be able to get your messages right and your marketing in place to attract your ideal clients.

You, my friend, have a secret sauce that is all your own that makes you different from all others. If you don’t give yourself the time to figure that out, you may struggle with the generalists dilemma–appealing to no one because you are targeting everyone.

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H�e a� 9 que�i�s to ask y�rself...

Am I willing to give myself time to figurethis out?

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It’s realistic to expect that you will be supplementing your income with your own savings or by taking on a side gig at first. This will cover your expenses until you have a proof of concept and assurance that you have hit the mark with your service offering, and people are excited and ready to buy.

Rest assured, you will not end up in a box under a bridge, but you DO need to keep a roof over your head and food on your table while you test your market assumptions.

Can I support myself for 6-12 months as I put the pieces in place to launch my business?

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before you leave yourpaycheck behind...

TO GET THE MOST OUT OF THIS GUIDE,GRAB A JOURNAL AND TAKE TIMETO REFLECT ON YOUR ANSWERS

TO EACH OF THE QUESTIONS.

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Beware of crowded,undifferentiated markets.

Your “Big Idea” is something that comes naturally to you and you may even be doing it now, but unconscious of the value that you are already offering. This first step is about discovering your mission and vision. It takes into account your values (what you prioritize) and your value (the transformational gift you bring when people work with you.)

Every solid business idea takes someone from a place of pain or need to a place of satisfaction and fulfillment. Your big idea comes from your “Why.” As Simon Sinek said, "People don't buy what you do; people buy why you do it." Your compelling value proposition starts with “Why?”

Is there a “Big Idea” that tugs at my heart, feels fulfilling to me, and that I have the skills to pull off?

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Every good business idea solves a problem for a group of people. To be successful launching any services business, you need to solve a problem that people have that they are willing to pay to make it go away. Or they have a goal or dream that remains unfulfilled and they have no idea how to make it happen.

This is true whether you are targeting businesses or individuals as your customers. We are looking for real-world problems that need solving on an individual, company, social or societal level.

Every business solves a problem. Think about it. What is a company or brand you really admire? What problem do they solve for you? Think of another. Get the drift? The bigger the problem with the fewest solutions = the biggest opportunity.

What is the problem my big idea solves?

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Coaching, consulting and training are great examples. How many life, health, or leadership coaches do you know? How many of those coaches are enjoying wild suc-cess? I would venture that most are just scraping by and some are still doing this as a side hustle. To earn six figures and more, you need to differentiate yourself so that you are THE expert in a narrow niche.

https://www.facebook.com/groups/launchlabforwomenentrepreneurs/

https://newbizquiz.com/0

Time is the number one obstacle that will cripple your success if you don’t manage it well. If you don’t have a clear set of priorities to focus on, you will waste valuable time (and therefore money) in getting your startup off the ground.

To the new entrepreneur all action feels like moving forward, but not all action is the right action. Yes, it’s important to get your entity established (am I a corporation, LLC or sole proprietor?) BUT it’s not the most important thing at first.

A mistake many new entrepreneurs make is hiding behind the busy work of getting their legal house in order, building a website and hiring a branding consultant to help with their company name and website design. This is what I call, “sharpening your pencils.” It feels like something useful (and it is), but it doesn’t answer the bigger question of, “how will I make money?”

Taking one online marketing course after another is another red flag. It’s not that these courses aren’t useful, it’s that until you have a tested and vetted business idea, you don’t have anything to bring to market and you risk sounding like everyone else out there. And, you can end up wasting valuable time and money learning things you are not yet ready to implement.

Do I have a clear understanding of my priorities?

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Have I mentioned focus yet? Your time and attention are your most valuable asset. It’s important that you follow a step-by-step process to get everything in place for you to successfully begin selling your services. It’s here we start layering techniques in time management and prioritization with the linear steps toward gathering momentum in your business.

“First things first” is our mantra. Get clear on the problem, the ideal client, and productizing your services.

Do I have a process to follow to find (and keep) my focus?

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NEXT STEPS

What’s next?

Take the Entrepreneur Readiness Quizhttp://newbizquiz.com

Join the Launch Lab on Facebook https://www.facebook.com/groups/launchlabforwomenentrepreneurs/

When you are first starting, hold lightly to your idea, and realize that there’s a 90% chance that it will change given new information. It might be a small pivot or a whole new direction depending on what you learn in your testing phase.

Detach from the outcome. This isn’t about you, this is about you doing the right thing to be successful. And take heart – you can change your mind at any stage. If the solution that will work isn’t in alignment with who you are or what you intended, you can always make a different choice. The ultimate belief is not in the idea, it’s in you and your ability to figure out what’s right.

Am I confident in my ability to change direction if I don’t succeed at first?

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Taking this leap to entrepreneurship is likely to kick up all of your “stuff.” Succumbing to self doubt or fear will result in you procrastinating what’s important for what’s easy. Or chasing another credential you don’t need just because you would feel you were worth more if you have more initials after your name. You already know plenty to help someone out of a troubling situation. Let’s get you out there!

Realize that nothing is perfect. Effort spent in the right direction is worth more money than effort spent in a distraction. It’s important that you learn to “master your mindset” as you embark on this journey. It’s the first thing I train to my clients so that it doesn’t sneak up behind you and bite you in the butt before you even get started.

Your beliefs dictate your thoughts which create your emotions which drive your actions. Your actions dictate your results. So let’s focus on beliefs and thoughts and learn how to overcome fear, self sabotage and all kinds of “stinking thinking.”

Do I have the tools I need to move beyond fear and doubt to give myself a fair shot at making this work?

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To be successful, you need to be seen and heard. That doesn’t mean hiding behind social media posts and all virtual connections. You need to let your ideal clients hear from you in real time, talking about real issues that matter.

Get comfortable speaking on stage and in live videos. Make sure there’s a structure to your talks that take people on a natural journey that uncovers their need and stokes their desire to work with you. Many an introvert has had to learn new skills in order to be successful at selling. You are no exception.

Am I willing to step outside of my comfort zone to be seen and heard and followed?

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I hope this is just the beginning of a long and successful relationship between us. The most important thing is that you have help from your guides - people who have “been there and done that” and have gone before you. There’s a crowded market out there. Choose your mentors wisely.

Make sure the coaches you work with have been in business long enough to have mastered more than one successful marketing tactic that they are now selling to you. Every business is different. Not every marketing success strategy will work for you – in fact, beware of ANY online courses that promise “million dollar strategies.”

Pick coaches who have a track record of success in multiple disciplines. They are excellent speakers and marketers. They have a clear sense of how to scale a business beyond offering one-to-one and group offerings. And, they understand how technology plays in the process. Your coach should have actually scaled a business before, so that she knows what pot holes exist for you and how to avoid them.

Becoming an entrepreneur is an amazing journey of self expression and self understanding. If you are willing to let go of the status quo, know that everything is going to work out just fine no matter which way it goes, you will be able to learn more about yourself and what you are truly capable of than at any point in your life thus far.

Life is short. You can’t fail. And if the idea you thought was a good one turns into something else. It’s all good! Confidence comes from doing things that you haven’t done before. Courage comes from stepping beyond your limiting beliefs and allowing yourself to be seen and heard.

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Deb B�lang�

Are you curious about how I got to be here?

To tell the truth, I didn’t intend to become an entrepreneur. I was perfectly happy collecting a paycheck and rising up the corporate ladder. But, 20 years into this amazing career, I hit burnout.

I had risen higher than I had ever intended. I was managing a $32 Million business with more than 50 employees. But success came at a price.

I woke up in my late 40’s to find myself deeply unhappy. For all of the success I had achieved, I felt empty. What had I to show except for a title and a bank account?

I started interviewing around inside and outside my company looking for something new. But nothing was inspiring me. “You’d be a great coach!” My own life coach exclaimed to me. “You can’t be serious.” I shot back.

Well… I did get my coaching certification and soon began helping other women overcome burnout, make bolder career moves, and yes, launch their own businesses.

My 20-years career developing and packaging services made me an expert in a field were new women entrepreneurs were struggling. The Launch Lab Academy for Women Entrepreneurs is the culmination of my 20 years of leadership in product development and consulting.

Ab�t my j�rney AND THE LESSONS I HAVE LEARNED

ALONG THE WAY

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