So, you’ve probably landed here because you’re wanting to start your own business - I’m glad, because this article is going to save you a LOT of time, energy and money, right from the start. 

Having a desire and idea for a business is really just the tip of the iceberg. Creating a profitable, values aligned, fulfilling business requires laying strong foundations. This post is your opportunity to find out exactly what to focus on, and what to ignore. 

We live in an ‘information age’ - where you can discover so much online, for free. If running a successful business were simply about knowing what to do, there would be far greater success rate for business owners. 

Running a business is not just about knowing what to do - it’s about knowing HOW to think, how to decide what to focus on, when to focus on it, and - often more importantly, what to leave out. 

Over the years, I’ve seen countless businesses struggle to become profitable because they have listened to too many ‘experts’ and tried to do too much - instead of planning carefully and laying solid foundations from the start. This costs them energy, money and - the most precious resource of all - time.

I want to help you avoid many of these costly mistakes. Below, I’m going to share with you the three main mistakes I see early stage entrepreneurs making, and what I would recommend you focus on instead. 

Most early stage business owners have never run a business before, and the simple fact is that starting and running your own empire requires you to learn new skills and ways of thinking that are wildly different to those learned in employment. 

The identity shift from employee to entrepreneur is one that can have many challenges, frustrations and difficulties - and often, without the support of a community or a mentor, these can feel amplified, can slow you down and quite quickly, can result in burnout, lost revenue, or missed opportunities.

Business is an opportunity for you to grow as both a business owner, and as a human. Delaying or avoiding this support is not just about growing your revenue, it’s also about helping you to manage yourself more effectively - which is a big contributor to your personal fulfillment. 

Growing your business doesn’t happen by accident. 

In the last three years, The Midas Academy has turned over close to half a million dollars in revenue. One of the factors that has supported us in this relatively quick growth is my belief that I am worth investing in, and that investing in supports that help me to shortcut the path, is an investment worth making. 

Early stage entrepreneurs often make the mistake of looking at investments like courses, mentors and outsourcing tasks as costs. I recommend looking at these as investments - which, by definition, produce profit. 

We need to remember that there are two costs associated with not making investments:

1. The cost of wasted time, money and energy

2. The cost of missing out on potential gains of time, money and energy

I feel that this could go without saying, but I see this being the cause of struggle too often to miss out on making this point. 

If your business is treated as a ‘nice to have,’ your low commitment will be felt by your prospective clients and your clients. 

You’ll be less likely to dig in during the challenging moments, less likely to be motivated to make change that truly impacts lives, and honestly - your results won’t be as mind blowing. 

Be honest with yourself - why are you really doing this? Is this business and life a non-negotiable for you? If so - great! Keep reading...

When I started my business in 2017, it never even occurred to me that I would ‘fail’ and have to go back to employment. 

There was no Plan B. I was all in, right from the start. 

Sure, I had the security of a paycheck for the first 6 months of side hustling, but I was tunnel visioned - I knew, beyond a shadow of a doubt, that I would make it work. 

This is a pattern I see with clients too. The more determined, the more stubborn they are about succeeding, the more they succeed. 

This is not about the presence or absence of a Plan B, a fallback plan or an ‘out.’ It’s not about leaving your job prematurely, or not being smart about having financial support behind you. I’m not saying you ever have to leave your job - I know many people who have had successful side hustles for years.

Here’s what I am saying:

Being ‘all in’ is an energetic decision. 

It’s knowing what you want to create for yourself, for your clients and deciding that you will keep going through all the set backs, disappointments and difficulties. 

It’s being mission driven - that even if you had the money, you would still want to do this work.

It’s the intention that no matter what, you will prevail.

So - my advice here is simple.

Know what you want to create, why you want to experience that, and DECIDE that you will do it. 

With all the different experts wanting to chime in on what you need to start and launch your business, it can be easy to get caught up trying to do everything, right from the start. 

Having a long list of strategies you’ve been told you *have* to do can lead to overwhelm, which leads to procrastination, which leads to no results.

Spending time building websites, funnels, creating landing pages, investing money into ads, running expensive in person events are strategies that are great to use when you are an already established business. But, when you’re starting out, they are thieves of the three most important resources you have - money, energy and time. 

There is actually very little that stands between you and being paid by your dream clients. 

Here’s what you need to focus on:

1. Know your market, 

2. Know what they want

3. Know how you help them

4. Know how you will market and sell to them

Once you have this plan laid out, taking consistent, focused, intentional action is what matters. Choosing a strategy and creating consistency is what will create a recognisable brand and offer. Being present and front of mind for your ideal clients builds the know-like-trust factor, which is crucial to have in order for sales to be made. 

Now - a caveat:

>> Whatever you decide to take action on, take the action believing that it will create the outcome that you are desiring to create. Doubt and worry is an energy that repels the outcomes. So, ensure you are managing your mindset and energy well. For support with this, I recommend you delve into our Shift Your State Bundle ($33), and The Journalling Treasure Trove (free).

Starting and building a business will probably be one of the most rewarding (and challenging!) phases of your life. The freedom, fulfillment and personal development that it allows you to experience far outweighs the challenges and risks. 

If you take the time to build strong foundations, learn to invest wisely and focus on what really moves the needle, your business will be humming in just a few months. 

If you’d like to have my help in laying these foundations, I’d love to invite you to enrol in Emerge. In just 14 days from now, your business could be up, running and ready to help those you desire to help. 

Let’s keep it simple and focused, so we can get your important work out to the world, now!