The Real Mistakes and Challenges of Starting a Business. Can Anyone Be an Entrepreneur? (PVP007)

“Is this something that I would ruin if I turned it into a business, do I just enjoy doing it?”Sarah Aubrey







In this episode we ask can anyone be an entrepreneur?

Sarah Aubrey of Prosperity Consulting joins me to talk about being an entrepreneur, starting a business, and her journey.  Like many entrepreneurs she started her “career” in the corporate world and quickly realized that life wasn’t for her.  So she took her skills from the corporate world and applied them to a business that she could stand behind.

 

Takeaways from this episode:

  • When you start down the road of forming a business do a lot of research on why a business would or would not work, the costs involved, the benefits to the customer, the risks involved.  Most people don’t do enough front end research.
  • Be unique and differentiate yourself from your competition.

 

Mistakes that Sarah sees a lot of entrepreneurs make:

  • Putting too much heart and soul into the business, and not enough business planning.
  • The importance of thinking about “can I afford to start a business.”  You will have to make a lot of financial sacrifices, so pay down debt and cut unneeded expenses..
  • Not knowing enough about your market.  Make sure that you aren’t entering a market that is already saturated.  You don’t want to be just another brand.
  • The importance of qualifying something as a business versus a hobby.

 

Problems that Sarah overcame when starting her business:

  • Didn’t fully understand one segment of her business and that caused some issues.  In her case it was distribution.
  • Managing growth.  Her business really took off and she didn’t have a plan to manage the growth.
  • Time management.  It is easy to let time management go out the window, important to stay on task.

 

Actionable & inspirational quotes from this episode:

  • “What can I do that is still me, but that I can grow and have a sustainable business.”
  • “We all know people that talk about ideas but they never get to the level of even looking at how those ideas are possible.  Go for that.  Take the enthusiasm and package that with the information and start looking at if there is really a viable business there.”
  • “Is this something that I would ruin if I turned it into a business, do I just enjoy doing it?”

 

 

Books mentioned in this episode:

Starting & Running Your Own Small Farm Business: Small Farm Success Stories by Sarah Aubrey

The Profitable Hobby Farm, How to Build a Sustainable Local Foods Business by Sarah Aubrey

Find Grant Funding Now by Sarah Aubrey

 

More information about Sarah Aubrey and Prosperity Consulting:

Website: prosperityconsultingsba.com

Facebook: https://www.facebook.com/ProsperityConsulting?ref=hl


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