July 27, 2023
Broken to Better: What it Means to Be Fearless in Business
I’m a risk-taker. I jumped out of a plane in 2019, but that doesn’t mean I don’t do my research first.
When you’re deciding to launch a new business, it’s scary. It’s something you’ve never done before. The best way to combat that? Prepare and do your research.
But no matter how much research you do, at some point, you’ll have to take a leap of faith. Branded Group was just a thought in my head until I took that leap. I sold my house and moved across the United States to turn this thought into a thriving, award-winning organization in Orange County, California.
The best way to become fearless is to be prepared. Take the leap, but look first. Here are 4 tips to become a fearless entrepreneur.
1. Know yourself
You can’t be fearless (and confident) without knowing who you are and what drives you.
Before launching Branded Group, I knew I didn’t like working under a boss. But it wasn’t just because I wanted to be rebellious. It was because I didn’t want someone else dictating what I could do and when. I always wanted to figure out a better way.
That also led me to my why. Why should someone buy from you? Knowing the answer to this question is a foundational building block to your business.
It’s important to know who you are as an entrepreneur. It’s not enough to have the idea and the capital. You need to know what makes you and your business tick. Once you know, your self-confidence will skyrocket.
2. Find your space in the market
If you had asked me what I wanted to do with my life when I was in college, I never would have said facilities management. Yet, that was the natural progression of my career.
After working in retail facilities management for years, I noticed a gap. California had the number two spot for the amount of corporate offices in 2014, second only to New York. So why was no one opening up a facilities management company there?
I didn’t look around and find another business to replicate. I found a gap that I knew I could fill, and I took my expertise and drive to make it happen.
That’s what’s so exciting about being an entrepreneur. You may be sitting behind a desk dreaming of starting a business that is the exact opposite of what you are doing now. You just have to become the expert.
3. Write a business plan
There are probably many of you who think you don’t need a business plan. It’s intimidating, so many businesses don’t bother with them. But it’s important to help you get through your first year of business. It’s not set in stone, and planning for years ahead with so many unknowns is impossible. Start with your first year.
When my co-founder, Kiira Belonzi, and I got started, we only had two goals: Get as many clients as possible and don’t go out of business. Yet, that and a budget were enough to get us through the first year.
4. Be okay with a small paycheck
If you’re used to a corporate paycheck, your first year of business can be a shock. Your ego can take a hit when you don’t see those six-figure numbers or miss out on those benefits and stock options.
Your first year in business can be pretty lean. I only paid myself $100 a week to cover my basic necessities. Make sure you mentally and fiscally prepared for a tough year. Create a personal budget and see what is realistic for you. Prepay expenses if you can to relieve the stress.
Money is a big stressor and a big cause of anxiety. When you take away that worry, you can be fearless.
Fear is an inevitable part of your entrepreneurial journey, but with proper preparation and confidence, you’ll learn to push past it and be bold.
Want to learn how to feel the fear and navigate through it in your next business venture? Check out my consulting page to get started.
This piece is based on a chapter of Broken to Better: 13 Ways Not to Fail at Life and Leadership. The book is dedicated to business leaders who are seeking to Be Better in their company for their employees, clients and communities. Download/purchase the full book, here.