• Mary Foley

[Stay Strong] First Thing To Do When You Get a New Business Idea



What’s the first thing you do when you get a new business idea?


We’ve all heard of the Great Resignation, a tidal wave of people leaving their jobs. For entrepreneurs and small business owners, it’s more like the Great Rethink.


Thoughts like:

  • What works now in our business?

  • What is really happening with our clients and our customers?

  • What do I need to do differently – yet again - in order stay in business?

  • And do I really want all of this?


Recently, I launched something completely new called Live Like Your Nail Color, not exactly coaching for women entrepreneurs.


With so many entrepreneurs rethinking their business for 2022, I thought I’d share a few of the things that I learned in the process of deciding to pursue this new idea and launching it.


My experience might help you, too. Consider it a bit of riffing on a few ideas that really came to the fore in the process.


The first idea: If you get an idea or a nudge for something new, explore it.


Watch the video for more of the story. Here are a few quick take-aways:


Don’t start spending money bringing the idea to life. Don’t dive in the deep end of the “make it happen” pool. The first thing you need to do is ask yourself a bunch of key questions and explore the answers.

  • What really is this idea?

  • Why do I want to do it? Why does it make more sense now than 10 years ago, five years ago? Why is is important to me personally?

  • How would I implement it?

  • What does success look like? Personally and financially? What kind of life do you want as an entrepreneur and a small business owner?

Don't feel bad if you spend all that time exploring (I took 18 months – felt like forever!) and you conclude that no, that's not the thing to do. The exploration will still give you insights about what you're currently doing and perhaps just help you to recommit to it in a new way,


One thing we've all learned in the last several years is not everything is equally essential or meaningful in our lives. I just read this very short story about Jack Nicholson. He walked into a restaurant, and he saw someone he knew sitting at the bar. He didn't stop, but he slowed down, and asked, “Hey, how are you doing?” The guy responded with lots of complaints. Jack interrupted him and said “We're all going to die. Act accordingly.”


That could be morbid, but to me, it’s pretty funny and so true. Life is short, let's act accordingly.


 

10 Ideas to Stay Strong in Your Business and Your Mindset!


The world is still unpredictable. It’s easy to feel anxious about how to create real growth when things don’t go according to plan.

However, you CAN stay strong and build a better business because of challenge and uncertainty. And have your best year yet!


Go here for 10 strategies, insights, and mindset shifts you can use right away.


10 Ideas to Stay Strong