Keys to Starting a Business

I am fresh off of attending a two-day entrepreneurial conference. If you design any type of product or service for a profit, then you are an entrepreneur; you are in business. Most importantly, you are your business. For me, I'm an author, a freelance writer, a writing/editing consultant, and a professor. I also sing on occasion, usually in religious settings. Therefore, building my brand and my business are keys to my success.

I'd like to offer these key points that resonated with me from the conference. I hope they will inspire you.

From Eric W. Davis, pastor, engineer, consultant:

• Have a clear view of your goals in business, your target market, and legitimate obstacles to your business.
• Set reachable goals (preferably perpetual annual goals).
• Balance your time and your talent. Time management increases business effectiveness and profitability.
• Define your concept (product or service) fully by:
• conducting research
• identifying distinctions between your concept and the competition
• asking professionals in your field or industry
• Do not move too quickly into living off of your business before stabilizing it or developing new strategies to remain competitive.
• Once you have gained success, repeat the process with the same concept or a new concept.

Follow-up questions for entrepreneurs include:

• What is the purpose of the business?
• Are you the right person to start the business?
• What risks are involved and can they be managed?
• What is the next step after the business becomes profitable?
• What can you do if the business becomes unsuccessful?

As a writer, this conference enhanced my understanding of my purpose and my ability to grow from simply a person to a brand or an entity. It has increased my awareness of how to serve my customers (my readers) and my clients more professionally.

I encourage all entrepreneurs and those wanted to become entrepreneurs to:

1. Define your vision for your business.
2. Create an effective and long-term business plan for the business.
3. Rally like-minded individuals and professionals to rally around the vision (i.e. attorneys, accountants, consultants, others in the industry).
4. Seek God in every phase of the business to ensure success.

For further information about the Entrepreneurial Conference, contact Word of God Church and Ministries at www.wordofgodcm.org.