- Market Directly to the Consumer
- Party Plan
- Direct Mail
- Telemarketing
- Multilevel Marketing
- Television Infomercials
- Pay-Per-Call
- Internet
- Market Through the Government
- Market Through Distribution Channels
- Market Through Foreign Trade
- Market Through Specialty Channels
- Market Through Email
- Retail Stores
- Sales Promotion
- Media Outlets
- Entrepreneur Profile
- Start-Up Costs
- Operating Costs
- 20 Financing Approaches
- Choosing a Bank
- 4 Cs of Credit
- Underwriting
- Loans
- Equity Financing
- Extending Credit
- Equipment Leasing
- Venture Capital
- Angel Investors
- Personal Guarantees
- Bookkeeping and Financial Statements
- Entrepreneur Profile
- Tax Basics
- Income Taxes
- When To Pay
- Minimizing Taxes
- Home Business
- Travel and Entertainment Expenses
- Automobile Expense and Mileage
- Retirement Plans
- Medical Expenses
- Sales and Use Taxes
- Property Taxes
- W-4 and I-9
- W-2, W-3 and Form 1096
- FICA, Social Security and Medicare
- Unemployment Taxes
- Form 1099
- Payroll
- Business Tax
- Excise Tax
- Tax Tips
- Audits
- Business Insurance Agents
- Workers’ Compensation
- Property Insurance
- General Liability
- General Medical
- COBRA
- Directors and Officers
- Employment Practices Liability
- Errors and Omissions
- Product Liability
- Operations
- Business Interruption
- Disability
- Life
- Claims
- IRS Section 125
- Home-Based Business
- Entrepreneur Profile
- Nondisclosure Agreement
- Sale of Goods Agreement
- Sale of Specialty Goods Agreement
- Terms and Conditions
- Promissory Note
- Guarantee
- Corporation Articles of Incorporation
- Corporation Bylaws
- Bank Resolution
- IRC Section 83 Election
- Independent Contractor Agreement
- Employment Agreement
- Sexual Harassment Policy
|
Tom Severance
Author of Business Start-Up Guide |
|
ORDER NOW: Business Start-Up Guide |
|
|
Joe Kennedy
Author of The Small Business Owner's Manual |
|
ORDER NOW: The Small Business Owner's Manual |
|
|
Stephanie Chandler
Author of The Business Startup Checklist & Planning Guide |
|
ORDER NOW: The Business Startup Checklist & Planning Guide |
|
|
Steven D. Strauss
Author of The Small Business Bible |
|
ORDER NOW: The Small Business Bible |
|
Lynn Colwell
Bloom ‘n Grow Coaching for Life
Post Falls, ID
Lynn Colwell has been a corporate communications specialist, a public relations director, freelance writer, photographer, childbirth educator, and children’s clothing designer. But after being laid off, she decided it was time for a career change. She embarked on a graduate degree in counseling and after a year, decided it wasn’t the right choice for her. Instead, she shifted gears and sought training to become a personal coach.
“I knew it would take some time to get myself up to speed as a coach, but I had no fears about being a poor coach. I felt pretty confident based on my past experience,” says Colwell. The 59 year-old mother of three and grandmother of four says that her family and friends provided great support with her new business decision. “When I told them about coaching, every single one of them gave me a thumbs-up. They all could see it was a perfect fit.”
Colwell didn’t write a business plan and makes no apologies for her decision. “In my experience, most successful entrepreneurs are simply not focused people. We’re dreamers, inventors, incautious, outside-the-box thinkers.”She also says that her excitement for her new business kept her up at night, a sure sign that she was onto something great.
The financing for the business came from her own savings. She cautions that it may not seem like an expensive business to launch, but there are many costs involved. “The training is not cheap,” says Colwell. She points out the need for a good long distance plan, an 800 number, high speed Internet connection, website development and maintenance, design of logos, membership dues, and books.
To market the business, Colwell works hard to get the word out. Her best strategy is offering free half-hour coaching calls to people all over the world. Personal coaching is an up-and-coming service and Colwell is often tasked with educating potential clients about the benefits.“I explain that coaching is like sex. I can tell you all about it, but until you try it yourself, you really have no idea how great it can be.” This usually provokes a laugh and leads to scheduling the free call.
Her website acts as another important marketing tool. “If I can get people to the website where they can meet me and explore what coaching is, they often will want the complimentary call.”Colwell also peruses a lot of message boards and offers free advice while using her signature to advertise her complimentary service.
The issues people bring to Colwell range from building a business to building a life. She says she challenges her clients to take action by experimenting with ideas or trying new behaviors. “My coaching business is built on my desire to help other people, but I am not a therapist and do not attempt to be one.I am very clear about what I will and will not provide my clients.”
Her self-designed website is packed with details about her offerings and includes articles she has written, recommendations for services she likes and an offer to subscribe to her free newsletter. The warm and friendly site invites clients to experience the help that Colwell provides.
A typical work week ranges between 30 to 50 working hours and Colwell adheres to a regimented schedule. She arrives at her computer by 7:30 each morning and talks with four to six clients each day. She schedules her free calls on Mondays and Fridays and her regular client calls mid-week.
Since working from home can be isolating, she tries to schedule lunch dates on Mondays and Fridays. “I spend at least half the day e-mailing and contributing to various websites.I also write articles, maintain my website, and look for opportunities to develop my business.”
Colwell says when she’s not with a client, she takes a five minute break each hour and exercises, cleans up or does anything that gets her moving. “In addition, most days at 10 a.m. and 3:30 p.m., I walk outside or on the treadmill for half an hour.”
Some unhappy coaches have expressed their dismay over Colwell’s pricing. “The biggest challenge I’ve faced had to do with pricing my service.Most coaches charge high fees. I was not comfortable doing that for many reasons.I believe so strongly in coaching that I want it to be available to as many people as possible, so I decided to become the ‘Wal-Mart’ of coaches, offering value at a low price.”
Colwell has a few favorite books that she recommends to aspiring entrepreneurs: “Feel the Fear and Do it Anyway” by Susan Jeffers; “What Should I Do With My Life?” By Po Bronson; “A Complaint is a Gift” by Janelle Barlow and Claus Moller; “Hey I’m the Customer” by Ron Willingham; and “Positively Outrageous Service” by T. Scott Gross.
As for advice for entrepreneurs, Colwell says, “Have a dream but be a realist. Don’t expect someone else to make your dream a reality. You’ll have to work hard, do things you neither want to do nor are particularly good at. Look to others who have gone before you. Read, ask questions, make friends, and don’t be afraid to ask for help.”
She cautions that being an entrepreneur is not for everyone and just because you don’t like working for someone else doesn’t mean you’ll like working for yourself any better. “But if you aren’t responsible for the well-being of anyone other than yourself, why not give it a try? You may just be successful beyond your wildest dreams and if you’re not, the world will go on turning and you will have had a fascinating experience.”
Excerpted from The Business Startup Checklist and Planning Guide © 2005, Aventine Press



