When You Start Over: Things You Need to Know

My Story

I returned to my New England roots after 15 years in North Carolina, arriving in Rhode Island at the beginning of the recession in 2008. I was committed to investing my limited personal resources to start my business in RI and build upon what I had in NC. I had to create a new business model that would allow me to cover startup and operating expenses, and I was essentially starting over.

I went through trial and error to find out the best business strategy. I hired a seasoned professional in the beginning, and she got me on the right path. I seized the opportunity to use and integrate my teaching and counseling educational background, my strong networking skills, my on-air radio communications skills, and my innate desire to help others transform their problems into solutions.

Philosophy

In my first book Success, Your Dream and You, I outline my 5 P’s to success, which are Purpose, Planning, Passion, Persistence and Patience. Your purpose guides you, your plan focuses you, your passion motivates you, your persistence gives you new direction and keeps you going when the going gets tough, and your patience brings you the trust and faith you need to stay on your path. I added a sixth P, which is prayer. This is individual, and it works.

7 To-Do’s for a Startup

1. Create a Business Plan

Know what your purpose is. What is the overall vision? How do you get there, step by step? Have three-, six-, and nine-month goals and one-year goals first. Then look at a three- to five-year plan, but don’t get overwhelmed. Progression is each step and this steady movement counts.

2. Get Help

Find an advisor. There are great no-cost, low-cost resources here in RI that will help you write your business plan and will provide strategic planning advice. SCORE is a great resource, as well as The Center for Women & Enterprise.

3. Be Versatile

Have one theme but more than one avenue. For example, I am a radio broadcaster, facilitator, coach, speaker and trainer and through all of my positions, I have the ability to help people transform problems into solutions and see the positive side.

4. Have Grit

If you believe in what you are doing, you can succeed. You may have to regroup, go down another avenue, or restructure, but those who make it, have grit and resilience. They find a way.

5. Let Your Passion Show

If you love it and the overall gain supersedes the overall pain, you’ll stick with it. Add grit and resilience to passion, and you have a winning combination.

6. Review Financials

Put figures on a spreadsheet and review them every month. This is so helpful to let you know what you are spending and where.

7. Follow Your Intuition

Listen to your advisors and let the numbers talk. Then follow your instincts. They rarely fail as long as you look at your business from all aspects.

Leave a comment