how to start a business

The Big Comeback: How To Start A Business After Experiencing Professional Failure

Dec 21, 2018

They say that 9 out of 10 new companies fail within the first couple of years of being in business. While most business owners want to believe they are the 1% who won’t fail, they must take the proper precautions just in case they do.

Is it possible to bounce back after experiencing business failure? Let be honest, it’s probably going to be a difficult task.

Fortunately, there are thousands of failed entrepreneurs that had to start over after their first business flunked.

If you have experienced a professional failure in the past, here’s how to start a business and recover from it all.

1. Evaluate Where You Went Wrong

One of the first tips every entrepreneur should take when learning how to start a business after you’ve failed is to evaluate where you went wrong the first time.

There are so many lessons that need be learned in order to run a successful business. Between money management and marketing — retracing your steps will help avoid failed entrepreneurship in the future.

2. Figure Out Finances

As tempting as it might be, you’re not able to “wing it” when it comes to the finances in your business. 

This time around, make sure you that your return on investment supersedes your expenditures. Also, verify that you’re spending well below your means and saving for the slow months.

3. Reinvent Your Brand

We’ve all heard of the phrase “If it not broken don’t fix it.” But what do we do if we realize our brand is broken?

One of the first lessons you should embrace when learning how to start a business is figuring out ways to always reinvent yourself. If your old tactics aren’t working, figure out different ways to bring fresh innovative content to your site and business.

4. Accept Past Failure

Overcoming the discouragement that comes with failure can be one of the most difficult tasks. After you’ve invested so much time and effort in your business, bouncing back can be hard. 

Accept your past failure. Don’t be too hard on yourself. Find comfort in those you love and remember that discovering yourself outside of your business is sometimes a necessity.

5. Rebuilding Your Inner Circle

It’s easy to isolate yourself when you’re constructing your own business. Because it usually requires long hours, many business owners find themselves very lonely and disconnected from their circle of encouragement. That includes family and friends.

Learn How to Start a Business and More!

Whether you’re looking to learn more about how to start a business or simply want to grow your own business, we’re here to help.

Rafferty Pendery was founded over 10 years ago and since then, we’ve strived to become one of the primary platforms for business owners trying to grow their company.

Have questions? Want to collaborate? Feel free to contact us and a member of our team will be more than happy to reach out to you.

international speaker

Listen Up: How You, Too, Can Become An International Speaker

Dec 14, 2018

Are you considering turning your knowledge and expertise into paid speaking engagements?

If you’re passionate about sharing what you know, public speaking may be your calling.

But how do you get started? How do you get paid to speak at events around the world?

That’s the subject of today’s blog, as we examine the exact steps you need to take to become a professional international speaker.

Step 1: Start With the Message

If you want to be in demand around the world, your message needs to appeal to people everywhere. People attend speaking engagements to connect to the speaker and the message and to learn something applicable to their lives. To that end, your message must resonate with people of all cultures.

Your message also needs to be about something so important to you that you feel you must share it. Feeling strong about getting your message out is what’s going to carry you through those long travel days and extended periods away from home.

Simplify Your Message to a System or Story

Here’s a reality of public speaking in the 21st century. Audiences have short attention spans and if you lose them, you may look out and find people on their phones or, worse yet, sleeping.

Engage your audience by centering your message around a compelling story. People love personal stories, especially when it includes a lesson that applies to them.

If your talk is more of a “how-to,” break down the steps into an easy to remember system. If you can name the system with a catchy acronym based on each step, even better.

No matter what style you use, make sure your message solves a problem for anyone who hears it. You can even tease it in your open, as in: “Today, you’re going to learn how to pay off your credit card debt in half the time, even if you’re living paycheck-to-paycheck.”  

Start Speaking Wherever You Are

Ever dream of speaking to a sold-out conference with thousands present in the audience?

You can do it, but start small first. Speak at local events, even if it’s for free.  What’s important is to get your message out there.

Get feedback and hone your message. Each time you speak, pay attention to audience response to discover your best moments and any weak spots which need improvement.

Consider joining Toastmasters International or National Speakers Association, which offer you a chance to improve your public speaking talents and get valuable feedback. These organizations offer accreditation, which can add credibility to your profile as you begin submitting to speak at events.

Practice feeding off the crowd, work out the kinks in your delivery and avoid common public speaking quirks which can doom any speech.

Expand at Home. Then Speak Abroad

After a while, your speech will become a perfectly-crafted presentation. You’ll appear confident on stage and audiences will be fully engaged.

Around this time, someone will likely approach you and ask you to speak to their company, or at a conference or seminar. And they’ll pay you for your efforts. Congratulations, this is when your professional speaking career begins.

Apply to speak at as many conferences as you can. If you get rejections, don’t worry. Rejections come with the territory as most conferences get more applications than they have open speaking spots. Each year you speak it will be easier to book engagements as most event planners like to hire speakers who have spoken before.

To improve your odds of getting hired internationally, become fluent in another language. Many nations around the world know English, but if you can communicate in their native tongue, your odds of landing the gig improve.

The Bottom Line About Becoming an International Speaker

Embarking on a career as an international speaker requires a long-term view. It may be hard and time-consuming to learn another language, but it can also set you up for a long successful career.

Renowned speaker Brian Tracy learned to speak German, a skill which propelled him to 10-15 paid speaking engagements every year in Germany. 

If you’re hard working and adept at crafting simple, engaging and problem-solving speeches, you can enjoy a rewarding international speaking career.

If you enjoyed this article, please check out more content about public speaking on our blog.

the digital entrepreneur

What It Takes To Be The Digital Entrepreneur that Dominates 2019

Dec 14, 2018

The way we do business is rapidly changing. According to Forbes, 82% of business enterprises plan to adopt a digital-first business strategy in the coming year. 

The online terrain is still new territory for many business owners and entrepreneurs. This means with the right knowledge and skills in your repertoire, you can climb past the competition and ascend to digital success. 

But what does it take to be the digital entrepreneur that will dominate the coming year? Read on, and I’ll discuss the skills and tactics you’ll need to know to win big in 2019. 

Stay Flexible & Be Ready To Pivot

Online trends change at a rapid pace, and true digital entrepreneurs need to be quick on their feet in order to keep up. 

The way consumers interact online, and what they turn to the web for, changes rapidly. Keeping an eye on the pulse of the web and being able to move with changes quickly can make all the difference in digital business. 

Keeping your business flexible and open to new ideas can help you take advantage of sudden opportunities. It can also make sure you avoid being crippled and left behind by the changing of the digital tides. No one wants to end up like Vine, FilmStruck, or a variety of other quickly shuttered digital companies. 

Get The Word Out 

The power of a business in the 20th century lay in how many physical assets a company had. The number of offices, land, and employees were all a mark of dominance in most industries. 

Today, size is more of a liability than a strength, limiting flexibility and function. Instead, digital assets and connectivity rule the game. Grow your e-mail list, your social media followers, and establish yourself on many different platforms and networks. 

The more you can make yourself present in the eyes of the consumer, the more powerful you’ll be. These days, quick, fluid and innovative thinking can do that a lot better than the brute force of size and stature. So a lack of budget is no excuse

Plan For Scalability

Take a look at some of the most successful digital leaders in the world. Jeff Bezos and Mark Zuckerberg, for example. What do their businesses have in common (besides some questionable ethical issues)? 

They were able to expand from niche markets out into ever increasing forms of profitability. Bezos’ Amazon started as an online bookstore and now provides, well, just about everything. Zuckerberg started with a niche customer base, college-aged Harvard students, and expanded out across the whole world. 

Be ready for growth. If you’ve already had a strong year behind you, begin the new one by finding the next step for your company. Is there a service that you aren’t providing but could, or an audience you aren’t reaching for but might want to? 

And most importantly, if such opportunities present themselves, have you properly planned for such changes? 

Become The Digital Entrepreneur of 2019

Opportunities come and go quickly in the digital world.

If your hope is to become the digital entrepreneur that dominates the next year, you’ll need to stay nimble, hustle, and follow the advice above. With a little luck, you can end this next year as the envy of all your entrepreneurial peers. 

Need more business advice? Check out my blog for more essential tips and tricks. 

entrepreneurial tips

Why Every Successful Business Leader Needs Entrepreneurial Tips From A Business Coach

Dec 7, 2018

Like the millions of other entrepreneurs out there, you have a vision for your business. Your entrepreneurial spirit and innovative thinking have inspired you to start a business.

A great idea and a vision aren’t the only ingredients for business success, as you probably already know. It takes determination, strategy, and know-how. That’s why you’re looking for entrepreneurial tips.

That’s where a business coach comes in. No matter where you are on your business journey, entrepreneurship coaching helps you take the next step.

What a Business Coach Does

What does a business coach do? Many entrepreneurs and business leaders ask themselves this question. The short answer is a business coach gives you tips and advice to help you succeed.

Some entrepreneurs think they already know everything there is to know. What insight could a business coach give them?

Other business leaders feel a bit ashamed about needing to ask for help. You shouldn’t be afraid to admit you don’t know everything. Asking for guidance is one of the wisest things an entrepreneur can do.

Knowing where you can turn is another skill in your entrepreneurial toolkit.

What a Business Coach Can do for You

An entrepreneurship coach does more than dole out sage advice when you ask a question. They’ll help you analyze every aspect of your business, from strategy to operations.

They can even help you analyze yourself. You’re likely aware of your own strengths as a leader, but what about your weaknesses? A coach can help you tune in to areas for improvement.

When you sign up for entrepreneurial coaching, you’ve also asked someone to hold you accountable. If you’re like most entrepreneurs, you like to dream big. A coach will challenge you to back those dreams up.

Clarify Goals and Find Motivation

A business coach is going to challenge you to think more concretely as well. They’ll ask you to pin down your goals. What do you want?

They can also help you find motivation. Running your own business or building an enterprise from the ground up is hard work. It’s easy to get stuck.

The coach can ask the tough questions and give you coaching tips to get you unstuck. They’ll ask you to re-evaluate your beliefs. There might be something holding you back.

Entrepreneurial Tips for Competitive Advantages

Your business is unique, and you need to communicate why. An entrepreneurial coach will help you recognize your core values. In essence, they’ll give you the tools you need to define your business.

In today’s competitive market, that’s a huge advantage. So is having someone holding you accountable. The business coach keeps you on track, which helps you reach those crystal-clear goals you set.

Your coach’s keen insight and experience will give you the guidance you need to succeed.

Get on the Fast Track to Success

Whether you just started up or you want to grow, the entrepreneurial tips from a business coach will help.

Give yourself a leg up on your competition by working with a coach.

If you’re looking for more great advice about starting or growing your own business, take a look around the blog. You’ll find plenty of tips designed to inspire.