with Tara Bokosky of SACHI Financial Planning and your host Cedric Campbell, Principal Broker of Equity123 Lending
In this episode of The Business Beyond The Balance Sheet Podcast, Cedric Campbell speaks with Anita Nygaard, the President of CorHR. Today we talk about how she really found her niche, the effect of strategic business partners, and the struggles or benefits of having them!
Business Owner Knowledge
- Being a hunter is not the same as being an owner
How much influence does the money you make vs. money you share vs. value you receive influence business decisions
You need to define and commit to your target audience
Is it OK to turn business away in favor of your targeted client base? it is when it is part of your brand
Planning a business doesn't happen overnight, make the plans slowly and thoughfully
Talking to others is a key component to becoming your own boss
Knowing what you DON'T want is equally important as what you DO want
Look at your start up costs:
- Consider working remotely
- Consider year 1 cost
- Cost killers are your personal and living expenses
- Consider a 2-year buffer
Prepare for the "valley of despair" of Imposter Syndrome
- You may vacillate in and out of this feeling
- Just "one" more can help keep you going
- It's OK to ask for help if you need it
- Failure is a choice, you can make the alternative a reality
When expanding your business keep in mind:
- You can't be all things at all times
- Choose your position of strength and then...
- Delegate your position of weakness
Partner conflict will occur but in order to mitigate it you need to.
- Define clear understanding
- Have tough talks upfront
Is there a difference between being a man vs. a woman in business?
If the only reason your starting a business is because you don't like working for someone, you need to rethink your strategy
Vision Boards are a great strategic tool, make use of them to achieve success
How do you know it's time to pivot?
- From quarterly reviews
- Talking to your peers and network partners
- And finally, evaluations
Why Tara Bokosky and SACHI Financial Planning?
- I fight for my clients
- I focus on value
About the Podcast:
Business Beyond The Balance Sheet with Cedric Campbell, Principal of Equity123 Lending lets you look through the lens of business leaders, entrepreneurs, and business owners to get an idea about how they approach the business world. You'll learn about insightful business practices they've learned over the years, best practices to help you avoid pitfalls, and ways you can improve your own market opportunities.
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