Are you considering starting your own professional services business? Do you already have a business but want to expand into a new area? If so, how are you deciding whether to go into a particular area of business? Gut instinct? Years of experience?
I encourage new business owners, and anyone who is considering expanding into a new area, to conduct some interviews with people already in the field to test their assumptions about what’s involved in starting their practice, especially during the first year or two. Whether you are a business analyst, a life coach or a grant writer, there are certain questions that will help you figure out if this is an area in which you will thrive. Be sure to talk with people who are already successful in their field, not others who are also in the beginning stages of their business; the point is to learn from those whose choices have kept them successful.
What to ask the experts:
- What was the biggest challenge during your first year in business?
- How did you get each of your first five clients? How did they learn about you?
- What do you think is the biggest challenge right now in your field?
- What piece of advice would have been most helpful during your first year?
And if you really want a reality check,
- What would it take for me to make $X {your salary/income goal} after a year?
You may not like the answers; my coaching clients sometimes tell me how surprised they were after interviewing several long-time entrepreneurs, and learning what challenges and hurdles new entrants into the field face. Well worth the time invested in making the calls!
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