20 Questions to Ask Yourself Before Starting Your Own Business

As a business mentor, I obviously get asked all the time, "How do you start your own business?"

But the question I WISH I was asked all the time is, "How do you start the RIGHT business?"

Now that's a question! Sure, you need to know the smart and strategic steps to transition from corporate leadership to business ownership. But why settle for just a successful business when you can have a business that also delivers significance, purpose and meaning to your own life and the world?

Related: The Five Steps to a Business Launch

It takes literally the same amount of money, time and effort to build an off-purpose business as an on-purpose one. So, don't limit what is possible for you.

Use my questions to help you start the RIGHT business, for the RIGHT reasons...in the RIGHT way.

The Smart Startup Questions

Below are 20 smart questions that you should ask yourself to ensure that you have a business that you and your future clients will love.

  1. Why do you want your own business? What...
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Warning! Is Subcontracting Sabotaging Your Impact & Earning Potential?

One of the biggest mistakes that purpose-driven consultants and coaches make is pursuing a subcontracting business model.

What is a Subcontracting Business Model?

Subcontracting is what you do instead of doing the hard work to confront your fears about marketing and settling for a business that is based on:

  • Finding other more successful consultants or coaches and asking them to consider you for their overflow work
  • Looking for companies that have lists of coaches they interview when a need arises
  • Scanning for companies who have published RFP's (Requests for Proposals) and trying to win business that way
  • Joining professional networking organizations in the hopes of finding partners who will bring you into contracts that they have landed

Related: Consultants and Coaches vs. Subcontractors

Who This Model Works For

If you have no interest in being an executive advisor, speaking truth to power or becoming a thought leader or perceived expert in your industry - this model can work....

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How to Overcome Your Imposter Syndrome in your Consulting Business

4 - mindset mastery Jan 30, 2020

One of the most agonizing (and least talked about) experiences that keeps really smart people from building the consulting and coaching businesses of their dreams is the fear of not having what it takes. 

The fear might be not having what it takes to do the marketing and attract clients or even if they landed clients they wouldn't have the goods to back up whatever promises they made in their marketing.

This all-too-common fear is called Imposter Syndrome

The term was coined in 1978 by two clinical psychologists, “referring to high-achieving individuals marked by an inability to internalize their accomplishments and a persistent fear of being exposed as a ‘fraud.’”

Imposter syndrome simply put is the worry that you have been "faking it" all of this time and you worry now with your own business you will be found out to be a fraud.

The impact of unacknowledged imposter syndrome fears is tremendous. This fear is the primary culprit behind...

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The Most Common Money Fears of Consultants & Coaches (and How to Get Over Them)

4 - mindset mastery Jan 29, 2020

"Money is congealed energy, and releasing it releases life's possibilities."
- Joseph Campbell

Most consultants and coaches experience fears around money. They  worry that they won't find enough clients to pay them what they are worth.

Money fears are totally normal and should be expected. After all, profits are a part of business. The presence of money fears can be good if they act as alerts to be strategic about investments and with marketing and sales. 

On the other hand, unacknowledged money fears and myths can sabotage your success. They show up passive aggressively and lead to decisions that ultimately will tank your results. 

Here's some of the most common money fears and how to get over them.

1. Invest Properly in Your Business

Money Fear: "I can't invest money in my business until it makes money"

On the surface, it makes sense that until your business is making money you might hold off on investing in it.

But the truth is - your...

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The Tyranny of Perfectionism (And Why It's Jacking Your Business Results)

4 - mindset mastery Jan 28, 2020

Ever hold off on launching your website because you are just not crazy about the font size or accent colors that your graphic designer has selected for you? 

Have you paused on hitting publish on a blog post because you just need one more person to reassure you it is good? 

Have you ever avoided a networking event because you haven't gotten your business cards printed yet or had time to craft a killer "what I do" statement?

If so, my friend, you might be struggling with perfectionism - the killer of entrepreneurial dreams and potential.

What is Perfectionism?

It is NOT:

  • High quality standards. If you're a high-achiever with a long track record of creating results - you deserve a world-class website that reflects the depth of what you bring to the table. That's personal power.
  • Longing for living in an ideal world of truth, justice and moral order. That's a desire for peace that we all share.

It IS:

  • A condition that results from a set of self-defeating...
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The Gift of Failure

4 - mindset mastery Jan 27, 2020

Oh it’s going to be all right
This is love…this is life
When times get tough and still worth the fight
This is love, this is life
The road here is paved with the brokenhearted
We have gotta finish what we started
Oh we gotta hold on tight
This is love…this is life!”

 - “This is Love, This is Life” Bon Jovi

Failure. That dreaded word. We all experience it probably more often than we wish. That missed promotion or lost job. The divorce…maybe even for the second time. For many of us, when we experience failure we feel like we have a scarlet “F” on our chests and hang our heads in shame and hope to God that no one asks us any questions that will force us to reveal how badly we have messed up.

The Two Worldviews That Failure Reveals

When we fail it reveals something about the worldview that we build our lives on. There are two options:

  1. The Contractual Worldview:

In the contractual worldview, you choose what you want out of...

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How to Define Success on Your Own Terms

4 - mindset mastery Jan 24, 2020

“If your success is not on your own terms,
if it looks good to the world but does not feel good in your heart,
it is not success at all.”
- Anna Quindlen

I really don’t know when I lost my passion for my role as an internal consultant at Walt Disney World. When I landed the job, it was the realization of a lifelong dream. Once hired, I threw myself into my client work, which was always interesting, always complex. I want to attribute my loss of passion to the sheer exhaustion of parenting two children under the age of three while holding a highly visible and responsible corporate position. But I know the truth.

The source of my discontent took root when my Dad died of lung cancer way too young. When we was in end stages, I flew back and forth from Orlando (where I lived) to Chicago (where he lived) on a weekly basis. To pass the time during many hours on planes, I would listen to music. That Tim McGraw song “Live As If You’re Dying” was big at the...

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Reasons for Today's Stress Pandemic (and Why High-Achieving Women Suffer the Most)

4 - mindset mastery Jan 23, 2020

It’s a jungle out there
Disorder and confusion everywhere
No one seems to care, well I do
Hey, who’s in charge here…”

Randy Newman, It’s a Jungle Out There

As a consultant, I have exposure to the inner workings of companies of all sizes and in all industries. Over the past few years, I have noticed an increasing trend of excess stress experienced by employees at all levels, particularly at the executive level. While there are many systemic reasons that I can pinpoint for this challenge such as the reduced headcount, higher pressure for short-term numbers, expectations of 24/7 connectivity, the net result is all the same. Stress abounds everywhere – particularly for high achievers.

Regardless of how the excess stress has come to be the impact is significant. There are many studies about the high toll that exhaustion is taking on us as individuals and companies and society on the whole. The experience of time poverty and sleep deprivation is directly...

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The Science of Burnout: Interview with Dr. Sangeeta Pati

4 - mindset mastery Jan 22, 2020
 

Interview Transcript:

Betsy:   Good afternoon.  I am Betsy Jordyn and I am so excited to have Dr. Sangeeta Pati here.  She is an integrative health doctor who completely was instrumental in helping my overcome my burnout.  Thank you, thank you, thank you Dr. Pati for coming to talk to us today.  I'm so excited you're here.

Dr. Pati:  I'm excited to be here.  You're in inspiration.

Betsy:  Before we get started I'd love for everybody here who is listening in or watching to know a little bit more about you and your background, and how you're connected to this project that we're talking about related to the Science of Burnout.

Dr. Pati:  Okay.  Well I was born in the United States and traveled and got exposed to a lot of schooling abroad, which obviously ultimately has influenced where I have gone in medicine.  I've practiced as an OBGYN in private practice in the D.C. area.  And I then joined a safe motherhood project...

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How to Treat Your Business as the Ultimate Job Promotion

4 - mindset mastery Jan 20, 2020

The best thing about leaping from corporate into running your own business is having control over your career, time and earning potential. But for a lot of us - we don't fully take advantage of this power we risked so much to find.

We work a ton of hours.

We get caught up in the chase for gig after gig.

We don't take time off (or as much time as we want) because of the fear of not knowing where the next client is going to come from.

And as a result - we take work is beneath what we did when we were corporate leaders and get paid for our time, something we haven't done in years.

So let's turn this around. Let's make your business the best promotion you have ever received and in the process turn you into the boss you always wished you had.

#1 Position Yourself to Land Work that You Love...With Clients That You Love

You don't have to take any work. Really you don't. You don't have to become a subcontractor to another consultant or coach that has mastered marketing more than you...

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