FROM IDEA TO LAUNCH: Understanding the process
There's a changing tide in how women define success. No longer is it about climbing the corporate ladder or the size of your bank account. Today's definition of success comes from a holistic perspective - a balance of family, work, self-care and finances.
I created The Moxie Project with this very goal in mind, and after feeling so disconnected to my life I wanted to make a change. Now life is peaceful and it's a feeling I want to teach others how to achieve.
The journey to entrepreneurship is one that involves just as much psychological preparation as it does strategic business planning.
The Moxie Project's focus is first on the mindset by examining the core of your vision:
What is motivating you for change, from both a micro & macro perspective?
What is keeping you from doing it?
Once you've achieved the entrepreneurial frame-of-mind, you're ready to begin the planning process:
What need are you addressing?
How do you create your startu-up fund?
Who are your Three C's (clients, community, competition)?
What are the elements of your business plan?
How will you take action?
What is the process?
Based on years of research and countless inteviews with successful entrepreneurs, a clear pattern emerged on the process of building a business - success was predicated on these three steps, in this order:
The first step to creating a successful business is to get you in the entrepreneurial state of mind. The Psychological Planning phase focuses on fear and clarity. Launching a business requires great mental fortitude, so being prepared in attitude and expectations is crucial. This is not an easy process, so being able to change your perspective on fear will give you the strength to follow your dream. The entrepreneur recognizes all possibilities - even failure - but pursues the idea anyways because to stay in the status quo is not an option. This phase is also about clarifying your vision so much that it feels completely tangible and real - and that is an amazing feeling!
The second step is to understand your Money Story. Many startups fail because of a lack of financial consideration. The Money Planning phase is to know where you are, what you need and how you'll get it. The process uses a tool called the Money Map as way to help you better understand your current financial situation by mapping your income and expenses and having a clear picture of how you take control of your money (and not feel that opening your bank statements is like opening the door to the big scary boogie man in the closet).
The third and final step is to create your launch roadmap. In short, this is the actual Business Planning phase: knowing your Three C's (community, customers and competition), conducting thorough market research, considering your business structure, creating a marketing strategy and crafting your launch plan.