Are you truly loving what you do as well as loving the adventure of managing and running your own business? Doing what you love and knowing what you love to do is a good start, but it won't transpire into a successful business unless you are a business savvy entrepreneur.
Getting any business off the ground takes a lot of energy and commitment. That's why it's crucial that you know how to mix business with pleasure (what you love to do) successfully.
As an entrepreneur, you are responsible for making key business and financial decisions. The decisions are endless and they will not go away. In fact, they will get more complex as you continue to grow and expand. To give your business venture the best shot at surviving long-term, you need to be business savvy.
Women who love what they do and do it because it brings them joy are the ones who will be successful and make money at it. Sounds cliche, yes? No, it's not. True success does not occur unless you are doing what brings you joy. So, why do too many entrepreneurs fail, even though they choose to do what they love? Their main problem is their inability to manage their business wisely- they were not able to mix business with pleasure successfully.
A sustainable and generative business is not built on genius, or better education or pure luck. Rather, it is generated by your capacity to manage your business wisely and with strategic awareness.
To be profitable and oriented towards new and different possibilities you have to be able to mix business with pleasure (what you love to do) successfully. And, most important you must be willing to acknowledge that being business savvy is not only possible, it is a real part of your business future.
As much as you may not want to believe it, your ability to mix business with pleasure successfully is the lifeblood of your business. Without it, your business will come to a halt. This is why being business savvy matters so much. Whether you have already operating a super successful business or are still working towards it, your ability to mix business and pleasure successfully is essential for personal effectiveness, peace of mind and business success.
Unfortunately, too many women entrepreneurs do not set a priority to become business savvy until their business is in crisis, which, in most cases, is too late. Not getting around to becoming business savvy will cost you in the long run.
You can alter your business by altering your choices.
The ability to mix business with pleasure successfully is indeed the great power of being in business for yourself. You can continue to not educate yourself about what it would take to mix business with pleasure successfully and ignore the underlying business realities. Or, you can make a different choice to become aware of what you need to know in order to create a strong foundation from which to grow your business and create a different financial reality.
You can alter your business by altering your choices. If you don't know anything about business strategy, then most of your results you might achieve will be due to luck, and a lot of that luck can be bad.
What are your targets?
Not everyone is cut out to be an entrepreneur. That's why it's important for any women who want to start a business to have a "sense of excitement" about managing the business. You need to know what you would like to create and your priorities, and you need to expand your awareness to be ready to receive new and different possibilities.
Unlimited possibilities to generate a thriving business are present every moment of every day of the week. The question is, are you ready and willing to receive and benefit from them? Every waking and sleeping moment should be engaged by your vision of new and different possibilities. Take a moment to ask yourself:
- What am I choosing to create as business and life?
- What is my target?
- Am I truly loving what I do as well as loving the adventure of managing and running my own business?
- Do I believe that it is truly possible for me to mix business with pleasure successfully?
Develop your business strategy
The reality is that any woman can acquire the knowledge to become business savvy. It starts with making a choice to discover where you are and what you would like to create and then develop your business strategy by outlining the key priorities of your business into the future.
The strategy must provide the details of your business, including the services you offer….
- What do you want to achieve?
- What does your business stand for?
- How does your business differ from the competition?
- Do you have financial projections and marketing strategies?
- What specific objectives do you want to achieve – both short and long term?
To mix business with pleasure successfully, it is important to be aware of your money situation. It is essential to know what it costs you to live the life you desire and to run your business, so you can see what kind of money will be required to be generated by your business.
- Do you have a clear picture of your business and your personal financial position?
- Do you have a firm grasp on all of the financial matters in your personal life and in your business?
- Is your business healthy enough to support you as the founder? This is about looking at how things really are, instead of how you would like them to be.
The purpose of a business is to create, both create profit and to create more in your life. The reality is your business must be able to support you and your lifestyle. Are you aware of how much will the business need to generate to pay you, so that you could create the life and the financial reality you desire? Do you have an exact figure for what it costs you to run your business and to live your life?
Many women entrepreneurs are vague about how much revenue they generate each year. The question is - do you generate enough revenue to meet basic living requirements and to cover your bills, food and other miscellaneous living expenses. Your income needs will depend on your lifestyle choices, your living expenses, financial situation, and comfort level.
The information that is crucial here is the amount of revenue you would need as income in order to have your quintessential lifestyle. Once you know precisely how much money you need to create the life you desire, you will be able to move from just wishing or dreaming to the space of physically actualizing it with ease.
When you are aware of what it truly is, then you can expand it or change it. You are the creator source of your own financial reality and you certainly don't have to be a victim to any circumstances. You can make the changes in your reality that will allow you to create a different financial reality.