Preparing to cast off the safety net

October 28, 2007

Q:  I want to leave my job to start my own consulting business, but I’m nervous about paying my monthly bills until I am up and running. What tips do you have for making a smooth transition?

A:  Doing market research, setting up business systems, even creating a financial nest egg can provide you with a solid foundation that will save you migraines later.

Actively test-market your service immediately. You’ll quickly learn what the demand is for your services, how much people will pay and which marketing approach results in a sale.

Gage people’s reaction to your message and fine-tune it until you can say it with confidence — and people are saying, “Sure, I’ll buy from you.”

New entrepreneurs tend to grossly underestimate the time and effort it takes to secure a new client, complete the work satisfactorily and get paid.

By taking on manageable contracts now, you will have realistic expectations based on experience.

Experiment with what to charge to cover your time, meet the client’s expectations and net a profit after expenses.

Aim to accurately forecast your marketing and sales cycle so you are not caught off-guard later.

This is a perfect time to create business systems. Standardizing will keep you from being overwhelmed when customers are knocking down your door.

Beta-test your business with a low-risk trial run. You’ll recognize when you have worked out enough of the wrinkles to smoothly step into self-employment without a safety net.

Originally printed in The Province, October 28, 2007.

Posted by jonimar | Filed Under Coach's Corner | Leave a Comment 

Feature Article: How do you find your purpose?

October 25, 2007

Joni Mar was featured on Straight.com on October 25, 2007.

A life coach can help you ask the hard questions.

When many people hear the word coach, their first thought is of someone who advises an amateur or professional athlete. They’re unlikely to think of having their own coach, who can encourage them to achieve their goals in life.

But that is starting to change, now that Vancouver has become a hub in the burgeoning field of life and business coaching. There are approximately 200 members of the Vancouver chapter of the U.S.–based International Coach Federation, according to the local president, Ray Williams, with about half of them ICF–certified.

[read full article]

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