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ENTREPRENEUR

business lines. So, I decided to give this dream of mine a fighting chance – I needed to embrace the fear and provide Gold Leaf with an opportunity to bloom. Regrettably, fear does not dissipate after the plunge. It shadows throughout your journey. Businesses evolve; you will be required to step outside your comfort zone and take risks to grow. Fear still shadows me when I contemplate the necessary steps to expand resources to accommodate a growing business. I’m often temporarily paralyzed with fear – “am I ready to take on this liability?”; or attempting an innovative way to deliver a new product or service offering – “how will it be received, if at all? Don’t let fear handicap you. Let it be your driver; your motivation.

“Nobody who ever accomplished anything big or new…did It from their comfort zone. They risked ridicule and failure”. - Jen Sincero

Fear will handicap you, learn to embrace it!

Believe in yourself, your product, your worth.

“Success is the ability to go from one failure to another with no less of enthusiasm”

I

f you do not believe in yourself, your product and your worth, then why should clients believe in your business or product?

– Winston Churchill

In the beginning, it becomes important to balance this confidence with your pricing. Yes, I know my worth and the gold standard quality of Gold Leaf’s product but this client is new and unfamiliar with it.

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nless personal circumstances have plunged you into the world of entrepreneurship, it is in most instances a painful effort to “abandon” your corporate security to “go out on your own”. Within my first months of launching Gold Leaf, with the unanticipated relocation and expenses post Irma, I thought that the universe was sending me a HUGE sign, to “abandon ship!”. But I considered, “have I really given my dream my best, notwithstanding the circumstances?” I wasn’t convinced that I had, and I genuinely felt that I was searching for excuses to abandon the plan, my “dream”. “Is it fear that’s crippling me?... Everyone would understand that with the Hurricane, perhaps job security is what’s more important”. Why am I considering what “everyone” outside of my supportive family thought?! I realised that if I allowed fear to handicap me and not pursue Gold Leaf, I would always wonder, what if? and most likely live with regret. I also wanted to develop a new branding for Compliance – to change the perception and develop a unique “Gold Standard” of Compliance: To shift it from being perceived as robotic and a handicap to business, but, instead, understood and embraced as a necessary element to efficiently grow and sustain

Plans fail, circumstances change, keep going.

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his was one of the most difficult lessons I continue to learn. I am a meticulous planner! After all, “if you don’t plan, you are planning to fail”. But…no one told me how to deal with THE PLAN failing! The truth is, despite meticulous planning which is indeed essential, always prepare or be open, to circumstances unexpectedly changing. I recall the time I was confident that I would secure a client retainer which suddenly fell through. I also recall my unexpected, unbudgeted expenses in relocating to Saint Lucia, on the heels of having lost equipment and material purchased to commence operations in the BVI. I had to shake off the confusion, the discouragement and move on. I learnt to improve my pitch and institute a solid and frequently tested continuity plan for Gold Leaf. As beautifully articulated by Maya Angelou “You may not control all the events that happen to you, but you can decide not to be reduced by them”. Therefore, re-strategise and most importantly learn from the experience. Anticipate things not going your way. Learn not to be paralysed by a plan failing, learn to work around it.

It will therefore require you to be flexible in your marketing and pricing to allow clients to get to know you and your product. To put it loosely, whilst still knowing your worth and product, at least in the beginning, you will need “to lose some to win some”. Therefore, with new clients, I provide initial free consultations and competitive pricing packages, to allow the prospective client to become familiar with Gold Leaf, its standard and expertise and most importantly, to build client confidence. This has assisted with developing and nurturing strong business relationships and a solid reputational branding which has resulted in clients confidently investing in the value of service guaranteed from Gold Leaf. Conversely, once you have created your name and a solid branding, it is also important to set your fee at your worth, of course following market research so you are not pricing yourself out of the market. Clients will always seek the best value for the lowest price possible. It is important to not “low ball” yourself by accepting much less than you are worth; assess the demands and value of the task; will it absorb a significant amount of your time? Be confident in your worth, set your fee, adequately justify and stand by it.

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Profile for Business BVI

Business BVI July 2019  

The theme for the July 2019 edition is ‘A View Beyond the Horizon’, which is intended to reflect where the territory is post 2017, while at...

Business BVI July 2019  

The theme for the July 2019 edition is ‘A View Beyond the Horizon’, which is intended to reflect where the territory is post 2017, while at...

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