BLUEPRINT TO BUILD A BUSINESS
As a Human Resources manager in manufacturing for 15 years, Cynthia is grounded in the corporate culture. Now that she’s going into business for herself, she needs to make a mental shift, according to her business coach Kim Kasparian. “It’s a mindset. She’s going from an employee to a business owner. We need to help her feel the weight of the undertaking.” In the first two-hour assessment session, Cynthia admits it was overwhelming, “ It’s a lot to take in. It felt like Kim was trying to scare me out of this.” But that’s a critical part of the process for Kim and husband Angelus Perez, the other half of Success Genie. The team focuses a lot on the “why” at first so they can help their clients with the “how.”
The first action step toward starting your own business is to write down a vision and a mission statement. “Once it’s on paper, it’s real,” says Kim. To help Cynthia with that, Kim sent her a 10-page Business Plan Guide to fill out. There are some basic questions about “what you do” and “whom you will serve,” but there are also some very specific sections that require projected sales goals. “It’s critical that people have a simple plan on how money comes back to you in the next 90-days,” says Kim. She takes a hard-line on this, and for that reason, that first consultation can definitely feel like tough love. But by creating this strategy at the outset, it helps lay the foundation for the business. It’s also at the core of one of Success Genie’s fundamental rules: be a good steward of your money. “People need to set their intentions in the beginning,” Kim says, because it helps to set them up for success.
The Business Plan Guide also asks people to identify strengths and limitations for their new business, as well as an organizational structure. She encourages her clients to go through the exercise of filling out all of the sections as best they can. “Angelus and I make notes and then we will help guide them to completion.”
The Success Genie team defines the basic formula for success with four areas of focus: mindset, managing, money and marketing. “People need to be strong marketers!” Kim stresses. For that reason, the guide has a section that asks about what the target sales market will be and “who will buy your product and why?” With that in mind, people can then create a marketing strategy identifying if they need mailing materials and brochures as well as how they’ll use a web presence and social media to boost their sales. Kim admits this can seem overwhelming but Success Genie helps people “scale” this within their resources.
If you want to pursue starting your own business, Kim and Angelus recommend two books to focus your mindset: Rich Dad, Poor Dad by Robert T. Kiyosaki and The E Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It by Michael E. Gerber.