The Entrepreneur in You

By Yolanda Anderson Wagner

As I began to write this article, I asked myself when and why. When did I decide I want to be an entrepreneur? Why did I want to become an entrepreneur?

It was many years ago when I decided that I wanted to become an entrepreneur. It was my freshman year in college. I attended an HBCU in a small town in the south. The college was the city. Every corner store and restaurant was black owned and was remarkably successful. When I returned home, that is when I started to notice several successful black owned businesses within my own community. At that moment, I decided I want to become an entrepreneur. My “why” is to show my two children that you can be successful and not work a typical 9 to 5; and to leave a legacy for them. I also wanted to give back to my community by providing jobs and by helping those who are less fortunate.
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I am the proud owner of a travel agency—Joriy Travel Solutions. Our mission is to create dreams and bring families together through travel. I also have a virtual assistant business— Joriy Virtual Solutions. Our mission is to collaborate and assist small business owners with their day-to-day operations at a low cost. I am an independent tax consultant with Millionaire Tax Consultants. Our mission is to take the stress out of preparing taxes and provide our clients with the maximum tax return. Lastly, I have a logistics business—As One Logistics and Dispatch Service. Our mission is to provide office support to the transportation industry and provide jobs to individuals that need a second chance.

When embarking upon entrepreneurship your mindset and routine must change.

There are 13 steps that entrepreneurs should follow when building and growing a successful business.

1. Be Business Smart - Building a solid business foundation early is a must as going from employee to employer is a major transition. A different set of required knowledge and expertise is needed. You should have self-discipline, be well organized, and have a real passion for what you are doing.
2. Ask - Never be afraid to ask questions and always ask for what you want.
3. Create Multiple Revenue Streams – You should never rely on one source of income when starting a business. When one aspect of your business is slow, having another source of revenue can be a lifesaver. Always remain focused. Each stream of income should share a commonality and further your overall business practice. Being all over the place can weaken your brand, negatively impact your message, and cause confusion amongst your audience about who you are and what you do.
4. Brand Yourself - Personal branding is a critical business component that many business owners overlook. You are the face of your brand, therefore your self-brand should complement your business. When executed properly, personal branding will differentiate you from your competition, highlight your areas of expertise, and ensure that more people will come to you when they are looking for the product or service that your business offers.
5. Promote Yourself - No one knows how great you are until you tell them. Come from behind the desk and behind closed doors and speak before groups; do media interviews and write articles. These strategies offer great benefits! They further your personal brand presence; exposing you to new audiences with whom you may not be in contact but are of value. In a nutshell, it grows your company’s visibility.
6. Be a Joiner and a Networker - You can get a lot of business from membership-based professional groups such as chambers of commerce. Be selective – do not join just to join. See what they offer, and what you can contribute. Be proactive so you maximize your opportunities to generate new business.
7. Social Media - Social platforms are goldmines. If you are not on social media, your competition is – and they are getting business that could have gone to you. So, post! Select a platform—LinkedIn, Twitter, Facebook, or Instagram – wherever your primary audience is, develop a goal for that platform and start working toward it.
8. Outsource - Outsource when it makes sense to. There is a reason why there are accountants, bookkeepers, lawyers, etc. They are there to help. Why do your own taxes (which many solo shops do)? Why open yourself to potential legal issues by not hiring a lawyer to read your contracts? Yes, they are an additional cost, but the time and future expenses they can save you can be significant.
9. Fire Toxic Clients – Have you heard of the saying, “all money is not good money”? This goes for clients, also. Not all clients are not good clients. If the partnership between you and your client is not working out do not be afraid to let that client go.
10. Turn Away Clients - To turn a client away may be painful but focusing on clients who will not advance your business is a waste and may take valuable time away from clients that are a better fit for both your business goals and theirs.
11. Invest in Your Company – The success of your business often means spending money. Regardless of the size of your business you have to offer the value and services that are industry standards. Keep in mind that many of these services can either be charged back to the client or be written off as a tax expense. (consult with an accountant)
12. Self-care- Self-care is the most important of them all. Take time for yourself. New business owners tend to get burned out, especially in the early years. Taking a break, (even if it is only a day off) or building in blocks of time just for you throughout your work week will keep you motivated. It gives your brain time off, and will stimulate your brain for new ideas that you may have overlooked.
13. Be Thankful - Gratitude is undervalued. Having a business, contributing to the community, and building a legacy are reasons, as an entrepreneur, for you to celebrate, be proud, and grateful.