Ten years ago, this business was just a hope, a dream. But it was one about which I was passionate. Fast forward a decade and JAD Coaching & Consulting has grown by leaps and bounds!
Recently, a colleague interviewed me about my start-up experiences. I’d like to share the results of that dialogue with you now. Enjoy!
Question: What were you doing 11 years ago?
I was the Area Marketing Manager for Nextel Partners, overseeing the marketing and public relations for Pennsylvania and part of New York. In addition to my “regular” position, I also wore the hat of National Sales Trainer, flying to new markets and training the sales team.
Question: Why did you make the decision to launch your own business?
Ten years ago, I was attending a business meeting in Seattle. In a posh room, overlooking the beautiful shores of Lake Washington, I sat surrounded by marketing professionals that were supposedly “hand picked” to be on this team, and I found myself wondering:
A. Why these people were earning the same amount of money as me but only doing half the work.
B. Why I spent my time working at least 80 hours a week only to hear my manager tell the top brass what creative ideas the “marketing department” was generating and tout how the latest campaign produced more results than any other. It wasn’t the “marketing department” producing. It was me! 90% of those ideas were mine and I wasn’t being compensated or acknowledged for them!
It was at that moment I made the decision that enough was enough.
Question: What were the biggest challenges to opening your business?
Dealing with self-induced pressure. I was (and sometimes still am) my own worst critic and measured myself against people who had 15+ years more experience than I did.
Setting realistic goals. I didn’t believe the facts I read… that most businesses don’t show a profit for 3-5 years…I thought I’d set the world on fire and make boatloads of money in year one!
Identifying what I needed. It seems that young business owners feel the need to have the best office products and equipment and will also spend money on lots of marketing materials that aren’t going to generate immediate revenue for them. (And they need immediate revenue!)
Identifying my USP. I couldn’t figure out what made me different from my competition and what type of clients were a good fit for me. This was, in part, due to lack of experience but also because no one ever got me to think about my business that way.
Question: What was your first year in business like?
Difficult, yet exciting! I still remember the feeling I got each time I told someone what I did… that I owned a business. I got butterflies in my stomach. I remember working all of the time and in retrospect really didn’t spend my time as wisely as I should have.
Question: What would you change if you were to go back and do it again?
I would have spent less time networking at local chamber of commerce events and more time networking at trade organizations or at specialized events.
I would have identified my USP much sooner.
I would have spent my limited resources on cutting edge, results-focused marketing programs instead of traditional marketing programs that worked while I was in the corporate world.
I would have plugged into a coaching group or mastermind group to learn and surround myself with more experienced business owners.
Question: What have been the biggest benefits to having your own business?
Flexibility. I’m able to work anywhere as long as I have my laptop and blackberry.
Sense of Accomplishment.Owning a business has been one of my greatest accomplishments. I am very proud of myself and am ok saying that.
Question: Will you launch other businesses in the future?
Yes! I just launched Your Written Book which is a business focused on helping business owners and entrepreneurs write and market a book in order to increase revenues and open up new possibilities
Question: What suggestions do you have for people who want to start businesses in 2010?
Have a 12 month plan.
Start marketing immediately.
Carve out your own niche. Identify a need and fill it.
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