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July/August 2002 Featured Stories
New Thought Businesses Can Succeed!

by Vicki Stringham Marihart

An astonishingly large number of us share the same dream- the desire to start our own successful business or practice. We imagine a different way of working, one that includes a sense of purpose and passion. We dream of independence and freedom from the "Boss". This is our chance to do it our way. We find something we love to do and believe that we can make a real contribution with our services while earning a living. Unfortunately, more often than not this dream fades away and we give up, or for some it turns into a true nightmare. Why does this happen?

The mantra we hear today is "Build It and They Will Come". The belief is that if your intensions are good, and your beliefs strong, you can just dive into the business of doing what you love and you will succeed. Your belief and passion for your dream are absolutely essential, but alone may not be enough. It is possible to pursue this dream with a much stronger chance at personal and financial success, but you might need help! To understand how, we need to first look at what so often goes wrong. Let's address two scenarios; the first one is probably the most common.

Scenario One: You find a special ability, something you love to do. You get training, education and develop your skills. Now you are ready to hang that sign outside your door or to build your own practice. At this point you may have invested most of the money you have in your training and in the tools of the trade. You manage to scrape together enough money to take out a few advertisements and send out a mailing or two and then you try to believe that the business will roll in and all will be ok. Enough business might come in to keep you afloat, but it is an ongoing struggle. You are never quite able to make ends meet. You keep working and believing but it becomes more and more of a struggle and you finally have to get another job in order to survive. What went wrong? Why was your belief not enough? How could you change this ending?

Scenario two: At first glance this one seems ideal-everything that you could hope for. You find that special passion, that dream that you want to manifest. You build it, start it, open your doors and they do come. Clients are showing up. They love what you offer and the money starts flowing in. Were you prepared for this success? Do you know how to manage the situation? Are you ready to keep your customers satisfied, manage the money, pay the bills, do the bookkeeping, clean the office, handle insurance, answer the phones, continue marketing to keep more customers coming, stay healthy and balanced in your personal life, and somehow find the time and energy to still focus on the reason you started all of this in the first place? In other words do you know how to handle the business of being in business? If not, the bills go unpaid, schedules are not kept, fatigue and discouragement set in, business drops off and your dreams slide away to loss.

This nightmare scenario does not have to unfold. You can follow your passion and manage your business at the same time; it just takes some careful evaluation, planning and development. Following is a list of questions to ask yourself and steps to take to strongly increase your chances at success. If you don't know how to find the answers to these questions or to do any of these steps, please seek help.

These days few of us grew up around small businesses and a standard education certainly would not give you all the tools that you need to start and run a successful business. If you are struggling with tax issues or financial management you might seek out an accountant; if legal issues plague you then obviously an attorney. For more comprehensive help you could look into working with a Personal or Business Coach. A Personal Coach can help you to answer the types of questions involved in number one below, as well as helping you to get past, through and/or around any areas that might be blocking you from getting what you want. A strong Business Coach can help you with these issues as well as helping you with the fundamentals involved in planning, analyzing and developing your potential business. A good Coaching relationship will give you the encouragement you need to stay on track and fulfill your dreams.

1. Personal Energy: This is a sample of questions to ask yourself to make sure that you have the personal energy needed: Is this truly your dream you are following? Do you have the needed support systems; do you have enough money to live on; do you have all the skills and abilities needed; do you really like to work alone; do you have enough physical stamina; do you truly love the work you will be doing? Are you fully aware of your strengths and weaknesses and how to work around them? Are you absolutely clear on what you want and what it will take to fulfill your personal and financial needs?

2. Assess the world around you: Are the services you want to offer needed? Are you in the right place and time for what you want to do? Are there already far too many people offering the same thing. Could you do it somewhere else or could you slightly alter what you offer to help you stand out?

3. Personal and financial feasibility: What will it cost you to get started? Do you have enough to live on in the meantime? Can you earn enough to satisfy your needs? Will you really be happier? Can you handle the business of being in business or would you be better off finding a better job, or a different way to live?

4. Planning what, when, where and how of your business. These questions are essential if you hope to find balance and success. A formal Business Plan is probably not needed, but a solid idea of where you are headed and how you intend to get there is.

5. Explore the options: There are many ways to approach starting a business. Find one that works for you. For example, start part-time while still holding another job; work from home to save money; seek a partner to share the experience with; form a collective with other similar professionals to share expenses and ideas.

6. Be ready for success. Get organized before you start. Have a solid plan for where you are headed; have a marketing plan in place; have a bookkeeping system ready to use. Have checks and balances built into your plan in order to keep you on track and your personal life in one piece.

Don't let this sound daunting. That time of discovery can actually be fun and creative. Think of this work as putting a strong foundation under your dreams. Once you have done this preparation you can relax in the knowledge that you are truly ready. Remember, "Success comes when preparation and opportunity meet".

For those of you that have already started a business or practice and are struggling, don't despair. It is usually not too late to step back a bit, reassess and reorganize and get your dream back. Try going through the same steps listed above and see what changes you might be able to make to increase your personal and financial success.

Remember, having your own business does not mean that you have to do it alone. Get the help that you need. If you are interested in working with a Coach, do some research. Most Coaching is done by phone and/or email, so you can select a Coach from almost anywhere.

Vicki Marihart has 25 years of experience in the Business World. You can contact her at www.wholisticcoaching.com or 503-807-6303.