April 22, 2013

Laying the Foundation [Post and Podcast]

I just finished the first podcast, Laying the Foundation on my Blog Talk Radio show Solutions for Success with Rachael, and most certainly; everything that could go wrong- did! Due to technical difficulties, it started late (although it begins for the listener at 00:22) and because I only scheduled it for 15 minutes- I ran out of time to share everything that I wanted to say.

In this inaugural episode, I decided cull questions from conversations that I have had with aspiring entrepreneurs, entrepreneurs and small business owners with the hopes that my listeners can glean some insights on how to enhance their success efforts.


TIME MANAGEMENT

Question 1: Between my full time job and my kids, I have no time to dedicate to opening my own business. Help!

Tick, Tick, Tick...
As I shared on-air, every entrepreneur has to come to terms with time management. If you are having a hard time navigating the waters of a work/home balance- join the club! This is not my attempt at commiseration but rather, stated to comfort you as you are not alone in this struggle.

In the coming weeks, I will be pod casting about specific time management tips as they relate to productivity planning.

PROPRIETARY RISK

Weigh the Risk
Question 2: I have a great idea and need money in order to make my dream a reality. The problem is that I am afraid that someone will steal my idea before I get the chance to develop the product. What should I do?

If you are concerned about publicly sharing proprietary ideas; it is a risk and a valid concern. But it's up to you to weigh that risk.  Do you need a cash infusion? With that cash infusion, can your product/idea come into fruition? If no, then I would not go with a public crowdfunding campaign or I would chose to phase fund to minimize the risk.

I NEED MONEY

Question 3:  I am an aspiring entrepreneur. I have what it takes to be an entrepreneur but I need money first! It seems like a never ending circle. Where can I turn for start-up capital?

Drip, Drip, Drip...
Absolutely! How can a business emerge without money? But you also need to have the passion (drive), plans (business, financial, marketing, feasibility, exit, etc.,) and action.  Inaction due to limited or no funds is inexcusable in this day and age.

I suggest joining an amazingly supportive community with 15,500+ members that I co-moderate: Entrepreneurs, Self Employed and Small Business


OK but, Where to find funds?

If you are located in the US, you can apply for small business and start-up loans via the Small Business Administration. You can also search for grants, sponsorships and competitions. If you are here, you have probably already tried those options and are seeking more. Try this:
In upcoming pod casts, we will really dig deeper into funding possibilities.  Be sure to follow the show so you don't miss out.

Listen to the show and continue  the conversation by using the hash tag #RachaelChats (across platforms) or by commenting below. 

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