Crushing Startup Analysis Paralysis

Crushing Startup Analysis Paralysis

You’ve wanted to start a busuness, but you linger on and on.  It’s not because you don’t have anything to offer potential clients, it’s because you don’t know what to do.  Often, having a variety of talents keeps you from wanting to be pigeon-holed into a single business category.  Sometimes, it’s simply fear that you’ll be doing the same thing in your business that you are at an 8 to 5 job.

The problem is, while you strategize on all the things you’d want to do with your company – you do nothing.  No clients, no market research, no visible and motivating resultsAnalysis paralysis slowly kills off any hopes of being on your own.

Stop analyzing and start doing

You never know what will work until you get out there and start doing something.  Even if you are hesitant to capitalize on the skills used in your current job, try to market them in your business.  If you hate what you currently do – but are damn good at it – it doesn’t mean that you can’t do other things.  For example, if you are the king of IT at your current job but dream of a marketing firm, get in the door with your IT services and upsell social media marketing strategies to your prospects.

Create a sales plan

Maybe you are hesitating to take action because you don’t know how many customers you’ll need to stay in business or transition to full-time entrepreneurship.  Don’t worry.  It’s very easy to come up with a quick sales plan.

- First, decide on the amount of profit you need in order to survive.  We’ll use $200,000k a year for now.

- Next determine your pricing and the amount of customers you’ll need in order to meet that yearly goal.  For example, if you are a consultant and you feel that you could only handle 6 customers throughout the year, you’d need a $3000 – $3500 monthly retainer for each of them.

- Lastly, start getting clients.

Go with the flow

You can’t enjoy the ride unless you start driving.  Once you’ve begun, you’ll start to see what you need to change, improve, and focus on.  If you continue reading blog posts like this one, books on how to start, and motivational videos without actually starting – well, you’ll be spending a lot of time making someone else rich.

Start.  Get out there and talk to potential clients. Stop reading.

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