Steve Strauss
In her article, Turn Setbacks Into Adventures, AOL's Jessica Bagnulo hits on a point critical to the success of any new venture -- namely, that half the battle is one's attitude and perspective. For Jessica and her partner in her new bookstore, the challenge was staying positive in the midst of this tough economy. They did, and things are working out.
But staying on course in the midst of uncertainty is no easy thing. Is starting a new business exciting, fun, creative, and adventurous? You bet. But it is also frustrating, sometimes scary, time-consuming, and challenging. It is your ability to handle that second list, especially in the early going, that can make the difference.
Example: I work with lots of startups -- both little and big. A few years ago, I worked with a young man who was starting a solo law practice. He was about 30 years old and had only a year of experience under his belt. How, he asked, was he going to get clients? In an industry that respects experience and gray hair, being a relatively young and inexperienced lawyer seemed like a major detriment. Who would hire him, and why would they hire him, he wondered and worried.
But what my young lawyer friend needed to learn, and soon did, is a version of Jessica's lesson -- namely, that when you are first starting out, you must turn your liabilities into assets. Do that, and it's all downhill.
Sure, he was young and inexperienced; that was the bad news. But what he realized was that it was also the good news.
For instance, he could say to potential new customers:
- "Because I am fairly new and want to get new clients, I will charge you less than any other lawyer out there." Especially in an economy like this, you can bet that that would resonate.
- "Because I am just getting started, I will be willing to work harder than anyone else you can hire. I aim to prove myself to you."
- "Sure, mine is a new business, but that also means that you will get far more personal attention than you would get from any other firm."
It was these sorts of messages -- the fact that he was new and was therefore eager to please -- that he used to build his first marketing campaign around. And it worked like a charm.
Before he had a show called Hardball, Chris Matthews had a great book by the same name. In it, he said that one lesson he had learned from the best politicians he had worked with is that you need to "Put a light on your problems." What he meant is that instead of trying to hide or run from or cover up issues, it is far more effective to confront them head on -- to put a light on them. Once you do that, they tend to disappear.
That is the same idea here. Sure, you are new to business, and yes, that can be a detriment. But the most successful new start-ups learn to use that freshness to their advantage.
If you turn your liabilities into assets, before you know it, they won't seem like liabilities any longer.
Steven D. Strauss is one of the world’s leading entrepreneurship and small business experts. The senior USATODAY.com small business columnist, his latest book is the Small Business Bible. A lawyer, author, and public speaker, Steve has spoken around the world about entrepreneurship, including at the United Nations. He has been on CNN, CNBC, MSNBC, The O'Reilly Factor, and many other television and radio shows, and his business column, Ask an Expert, appears weekly at USATODAY.com. If you would like Steve to speak to your group, help your business grow, or if you would like to sign up for his free newsletter, "Small Business Success Secrets!" please visit his website -- www.MrAllBiz.com.