No matter how long you have worked in a professional capacity, starting your own business will present challenges of a stripe that you have yet to make acquaintance with. Having witnessed a number of ventures started over the years by friends and colleagues, observation confirms that the greatest imperative is to have a plan and a vision and then be prepared to tweak and modify as the course of your venture adapts to market and demands.

The vision has to be supported by your peer to peer network as well, that complex web of people that you have nurtured over the years. Don’t have one? According to this expert, that will work heavily against you.

“If you haven’t built up goodwill over the years, and don’t have a real or virtual Rolodex of cheerleaders, you’re probably sunk as far as succeeding in your own (or any) business.”

Probably the most critical aspect cited by this entrepreneur is the necessity of branding. A way to accomplish distinguishable branding is by refining your area of expertise. To be considered an “expert” in your field will go far to legitimizing your “brand”.

“You have to have some area of expertise for people to pay attention to your signal, over the level of background noise. Be sure that what you do, or offer, is narrow and specialized enough that you are not an also-ran. And demonstrate the trappings of expertise by writing articles, doing book and conference reviews, and interviewing thought-leaders – all tactics I’ve employed on my blogs.”

Yes, the ubiquitous blog is recommended as well as the requisite attributes of transparency and authenticity. And,not on a pessimistic note, plan for the contingency of failure.

“Count the cost up front, run a “worst-case scenario” exercise, and launch the business without desperation – there is a serenity that comes from having already considered the “what if” possibilities.”
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