As I was developing new businesses from a standing start I knew that I would be very lucky to get good, or even any, financial returns from the start. It was important, therefore, for me to measure what I was doing for my businesses each day so that I knew that I was moving them forward while developing a regular income stream.
This is a very different way of planning to the planning that I used to do in a local authority. There I would have plans with clear outcomes and which were SMART – Specific, Measurable, Achievable, Realistic and Timed. I have planned my outcomes for my new businesses, but the timing of them is difficult when I am still establishing myself, and how do I know if they are realistic? I have managed this by giving myself activity goals for every day – as I can measure the achievement of these which will help me to get a momentum going.mIt will also help me to review my successes by tracking them back to these activities to help improve my planning in the future. For example how many contacts did I have to make before I got a meeting, how many meetings before I got business? It is helping me to cope with the process as I am developing an understanding of how many ‘no’s’ or none responses I need to go through to get a ‘yes’.
How do I know what outcomes I should set myself?
I have talked to others who have gone through the same process and they have given me an idea of which activities I need to do, and for how long, before I start to see the desired outcomes that I want from my businesses. I have talked to as many people as I can as each person will have had a different experience, and mine will be different again. I am getting ideas that I will adapt and develop to suit me, although the information about how long it can take for business to develop has helped me to manage my expectations. Their experience is only an indicator about what could happen not an exact road map for my businesses.
The processes I have heard about so far are:
- I need to develop a presence in the areas where people looking for my kind of businesses congregate – either online or face to face,
- the number of calls I need to make to prospects, or contacts with prospective commissioners before I am successful
- the type of information I need to have prepared when a prospect does respond positively.
I have also found it useful to look at the websites of others who have gone before me, and at their linked-in pages or any other online sites they have to see who they are linking to and the groups they are active in and then I join the groups I feel will be relevant to me as well. I have also read as many of the books that have been recommended to me as I can.
Two months into this process I am feeling very positive about what the future holds for me even though my businesses are in the early stages of development because of the information I have gained.
What has your journey been when you have made a career change?
I would be interested to hear your advice to people setting up their new businesses as we can always learn from others.