Being a Growth Focused Entrepreneur Step 1
Part 1 The Journey to Success
Six years ago I quit my respected corporate career. I made the bold decision to start an executive coaching company. I had a vision for how great coaching could help leaders be more successful, and companies realize better results.
I gave up a title and working with a prestigious global organization. I went from being a Market Executive to a Sole Proprietor. I left a great compensation package and worked for a couple of months with zero income.
In January 2017, I launched an executive coaching company. I became an entrepreneur with no entrepreneurial experience, limited executive coaching experience, no proven client programs and just three personal clients. I was fueled by vision, energy, a hypothesized business case, lots of ideas, and a network of supporters who thought I could do it.
My sixth anniversary has me reflecting on moments of success and my optimism for the future. I started 2022 by wrapping up my best year in business. We grew 40% in 2022.
Today I lead a leadership development company that specializes in diagnostics. I’ve incorporated, rebranded, developed an industry leading diagnostic product, and built proprietary programs that deliver results. After being dramatically impacted by Covid in 2020, I recovered by implementing accelerated change. I have been working harder than ever. My optimistic personality has overcome falters. I’ve remained active in supplier diversity and with great corporations who want to work with companies like mine. I have large corporate clients who continue to buy Pivotal Growth’s services for strategy, diagnostics, insights, advice, planning and delivery. I feel like I’ve finally got a scalable business with an offering that’s needed, and with clients who are keen to buy.
As the global health crisis persists, my world, similar to all leaders, requires continued strategy, focus and drive.
The Journey to Success
What a journey it’s been! The work has been harder than expected. There’s been a spectrum of ups and downs. Still, it’s the happiest work I’ve ever done. I consistently feel like I’m adding value, making a difference and being a great leader. I hope these shared reflections and learnings help other entrepreneurs, and those considering becoming one.
Find like mindsets. Learning about the growth mindset is what led me to start my business. Surround yourself with others who hold a growth mindset greater than yours. Spend time with those who fuel your mind, learning and energy.
Talk to lots of people. It was my network that gave me learning, advice and referrals. They are why I am where I am. Managing your success network is critical.
Don’t take rejection personally. Some people don’t like the coaching industry, my coaching programs or do not connect with me. I heard a lot of no’s from potential clients and potential mentors. It was probably one yes to every four conversations. With persistence and consistency, the conversations created results.
Don’t let your ego sway you from trying something. I launched the business as a sales effectiveness coaching company. What I’m scaling is a leadership development business. If your client wants you to do it, be open to the opportunity and learn from trying.
Not all advice is the best advice. My network and leaders are quick to tell me what they think, and share what they think I should do. I haven’t taken all of their advice. I’ve been selective in the advice I’ve actioned.
Create a feedback loop. This should be one that’s what you want to hear, and one that’s what you need to hear. Entrepreneurs get limited feedback, yet it’s feedback that accelerates learning, change and results. I have always had a coach, leveraged mentors and valued these relationships. The partners I work with expect to be asked for feedback. My journey into personality assessments and creating my own leader profile was an eye opener and game changer.
Buy vs. build can work. I haven’t hired employees. I’ve hired a number of subcontractors. I partner with a select group of companies. One important partner could be seen as a competitor, yet our work together has seen our companies realize new sales. Fit and relationships are the key to partnering.
Know your value proposition. I’m still working on this five years later. I’m getting closer. Keep getting feedback from your customers and follow trends.
Invest in yourself and your business. I’ve leveraged a few grant programs. Mostly, I’ve boot strapped to grow the company and my diagnostic product. I am continually learning and working on new skills and capabilities.
Finally, be open. I’ve embraced the battle with self-confidence, scarcity mindset and fear of failure. It’s a roller coaster.
For those readers who are entrepreneurs, this is a familiar story. You are not alone. I hope you’re staying resilient and preserving your optimism.
For those who are not entrepreneurs and know entrepreneurs, make time to call, email or text and check in on them. They are essential to our economy’s success. They are risking a lot to do what they do.
Success is a collective phenomenon. We are all, together, responsible for it. — Albert-László Barabási
Thank you to my family, friends, clients, suppliers and this network for contributing and supporting my success!
Here’s Part 2 of the story: Being Optimistic About the Future
