Search
  • Kristin Westfahl

BEING AN ENTREPRENEUR & WHERE TO BEGIN

Have you always been interested in being an entrepreneur and starting your own business? Me too! The question for me was where do I even begin? Let me share with you how I got to where I am today.


Brainstorm

Maybe you know exactly what you want to do with your career and maybe you don’t. If you aren’t quite sure I would start here - with brainstorming. Map out your likes and dislikes. What are you good at? What are you bad at? What do you want out of a job and what do you not want? What are your goals? Do you want to have freedom? Time, location, financial freedom? Do you want to get paid to travel the world? Do you want to invest in stocks or real estate?


Do a complete brain dump and jot it all down on paper. Writing it out will help you work through the process and understand everything you’re wanting out of a career and a business.


I recommend checking out Jack Canfield’s book, “Success Affirmations: 52 Weeks for Living a Passionate and Purposeful Life”. This book will help you discover your passions and what makes you happy. It will guide you to getting your mindset right for beginning your path as an entrepreneur.


Research

Once you know what direction you’re going in - the fun begins! Start researching EVERYTHING. Look for people that have already done what you’re wanting to do (or something similar) and take notes.


What makes them successful? What are they sharing about their journeys, their paths to success? Are they doing interviews on podcasts (personal plug: check out my podcast with different entrepreneurs and their journeys), news segments or tv shows? Find the clips. Maybe they’ve written a book? Did they invest in a business consultant or a coach to help them build their business? Do they offer coaching, courses or mentorships themselves? Follow them on social media. We are so lucky to live in a time where you can find everything and more online, at your fingertips.


What are other entrepreneurs doing to find success, and more importantly, how can you do the same?

With this information, you can take notes on what you love, like and dislike. What can you learn from them? Can you do something similar without copying them? You’ve got to make it your own and be original - do not copycat, that serves no one. How can you make it your own? What can you bring to the table to make it different, maybe better? Does your purpose and passion vary from theirs? Maybe no one is really doing exactly what you want to do.


Also, get used to researching. As an entrepreneur you will always be learning and growing. Business owners are constantly evolving, otherwise you’re stagnant.


Make a plan

Now that you have brainstormed and researched, let’s make a plan!


In your research phase, you found how others earned success. You took notes on how you could do it differently and in your own way. Let’s take the notes and what you learned and put them into goals and plans.


What are your goals? Do you want to be a millionaire? Do you want to create passive income? Do you want to get paid for doing something that you love? Great! Write those down.


I like to work backwards when goal planning.


Let’s say that I want to make $100,000 in my realtor business this year. Okay, how do I make money in this business? As a real estate agent, I make money by generating leads, nurturing them, and being there for them whenever they (or someone they know) are ready to buy, sell or invest in real estate.


Then I like to look at the numbers. The average price of a home sold in my location is $300k. I take home roughly 3% of the sale price (we won’t go into expenses and what I actually take home from the 3%). 3% of $300,000 is $9,000. In short, I will need to sell around 12 homes that are at $300k or greater in order to meet my goal of $100,000 earned for the year.


Then I break down a plan of what it takes to sell 12 homes, what marketing, lead generation, etc. I break that into quarterly, monthly, weekly and daily action plans.


Take Action

The most important part of your plan is putting it into action. Don’t let your hopes and dreams die on the paper. You’ve done the necessary steps of researching and planning and now it’s time to make your dreams a reality.


This is why in the planning phase we broke it down into daily goals. Successful people revisit their goals daily so that they never lose focus on what the end goals are.


I recommend checking out the following tools to help you put your plans into action:

  1. Darren Hardy’s “The Compound Effect” book.

The Compound Effect will tell you how small, daily actions lead to big success. It takes time and consistency.


2. Brendon Burchard’s “High Performance Planner”


My incredible friend and fellow realtor told me about this planner and it has changed my life in the best way. It’s had a huge impact on my business and in my personal life - because balance is crucial.


3. Time Blocking


I first read about time blocking here on the Skinny Confidential from Lauryn Evarts Bosstick. Lauryn shared how important it is to time block your day in order to be productive so that you actually complete all of your tasks for the day. Time blocking will force you to be highly efficient.


***BONUS: When you’re ready to invest in your first course, I highly recommend Amanda Frances’ Money Mentality Makeover course. This course will help you get your mindset right and help you understand and heal your money stories. You’ve got to be open to receiving the money you’re wanting to make. You have to know that you are worthy and you don’t have to break your back and work a million hours a day to feel worthy of earning the money you desire.


Keep Going

Be sure to give yourself grace. Make sure your goals are big enough, but that they aren’t anything crazy like making a million dollars overnight. That’s unrealistic (not impossible, but unrealistic) as a first goal. Be prepared and understand that you’re going to put in your blood, sweat and tears into this business and you may not see a substantial return for a few years.

If you need to have a job to survive, do it. You can work more than one job and most entrepreneurs do. Do whatever it takes to work toward your goals and dreams. Make sacrifices and tough calls. Dave Ramsey always says “live like no one else, so that later, you can live and give like no one else”.


Another quote I keep running across is “Be stubborn about your goals, but flexible on how you get there”. I love this


quote and also that “Rome wasn’t built in a day”. IT TAKES TIME. What you’re doing, what you are creating is HUGE. You’re building an empire, a legacy - and neither of those are built overnight. You’ve got to fall in love with the journey. Fall in love with and become obsessed with the process of building your empire. Don’t get caught up on the end goal, get caught up on the tiny wins that you have every day that you know are going to add up to massive success one day. It’s going to change your life, your family’s life and many others lives!


Most people fail because they quit. Don’t quit. Keep pressing on and do whatever you have to do to remind yourself that the winners never quit.


We are our own worst critics and as an entrepreneur - it is all on you. That can be a scary thought, but remind yourself that you are doing this for a reason and don’t forget your why. I will do a blog over your why because it is everything in being an entrepreneur. Until I get that blog out, I’ll leave you with this: If your why doesn’t get you out of bed and motivate you on those mornings you don’t feel like it? Your why isn’t strong enough. Dig deeper into those layers and really find your true why. Why are you doing this? Why do you want to be an entrepreneur? Journal through it. Write it down and work through it - don’t put this off.


As this entire blog explains, and I’m sure you already know as an entrepreneur, this is not an easy path. Why are you choosing it?



Signed,









Links:

Click HERE for Success Affirmations: 52 Weeks for Living a Passionate and Purposeful Life by Jack Canfield.

Click HERE to listen to my podcast, How it Started, How it's Going.

Click HERE for The Compound Effect by Darren Hardy.

Click HERE for the High Performance Planner by Brendon Burchard.

Click HERE for The Skinny Confidential blog about Time Blocking.

Click HERE for the Money Mentality Makeover course by Amanda Frances.


6 views0 comments

Recent Posts

See All