As entrepreneurs, we face many obstacles and challenges in our journey and if we don’t listen to and follow the signs, we may be headed for a crash landing. But what if that crash landing was a blessing in disguise?
Join Jay on his latest Black Entrepreneur Blueprint podcast episode # 461 as he discusses the blessing of almost losing it all and the eight lessons he learned from that experience and how he used those lessons to rebuild his ideal business and lifestyle. This is a must-listen for all entrepreneurs.
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LISTEN TO THE FULL PODCAST EPISODE
BLACK ENTREPRENEUR BLUEPRINT SHOW NOTES – EPISODE # 461
Here’s my story about almost losing everything (for the second time) which actually was a blessing in disguise and several things I learned that may help you in your entrepreneurial journey:
What I Learned:
1 I learned to accept that I had to close my business and walk away. You have to be realistic about where you stand and the probability of success (taking into account the economic climate, your industry climate, and other factors) Pivot or quit.
2 I made a decision to do something about my situation (this entails doing work)
3 I wrote down what my new lifestyle was going to look like – what is important to me (free time, flexibility, etc.)
4 I wrote down what I liked and didn’t like in my old business and tried to create that sweet spot for my new business. What does my ideal business look like? I based my business around my lifestyle. Why be in business if you can’t enjoy it?
5 I formulated a new game plan and focused on the process not the results – Embrace the process and the results will come – what are the daily, weekly, and monthly tasks I must complete to bring my ideal business to fruition
6 I became intentional about my business and the moves I made in my business – there’s a reason behind every move I made.
7 I created a realistic budget for my new business using a third 1/3 take home, 1/3 reinvest in the business, and 1/3 savings.
8 I executed – I checked off everything I needed to do to move my business along. Critical tasks, Primary tasks, and Secondary tasks
