As I wrote in July in my “The First Half Of 2017 Tested Me, But Grew Me In The Perfect Way” blog finances have been up and down for 2017. I am thankful a majority of 2017, I lived off of my savings for day to day needs. Well, as the end year was ending I knew my savings was at zero and I wouldn’t make it. So, I had to humble myself and take a job to help pay the bills. Sallie Mae doesn’t care about my pride, they want their $500 a month for my student’s loans.
A couple of months ago, I received a buy Tasha coffee question on how said business owner could transition their current business model into another industry gracefully so to speak. This upcoming July will mark eight years in business for Imperfect Concepts brand, and I know a thing or two about transiting industries. You see I started off as an online high-end resale boutique and transition to a business consultant and blogger. Today, I want to share five tips for those looking to transition your business from one industry to the next.
People love to say everything has been invented under the sun and there are no new business out there. Several companies such as Uber, Airbnb, Rent The Runway, The Bouq and many more have proven there is a plethora of business models out there to be discovered. However, if the industry you are trying to launch in or currently in is very oversaturated and you’re trying to figure out how to maneuver through the over-saturation in the industry and stand out can be some work.
Have you ever thought you are lacking money to do xyz in your business or pay off your debt. I am betting that you never really thought about how the affordable luxuries are draining a hole in your finances verses helping you. Trust, I get the purpose of them they bring joy in the moment but those moments don’t last.
This is a super touchy subject, seeing as I own ICB Consults and I am paid to help women run better businesses. I am far from perfect, likewise, is my business. However, I have learned in the last six years to keep my mouth shut unless I am being paid to respond. Even when I am, I don’t voice my opinions when clients make critical mistakes in their small businesses if they didn’t listen to me the first time.
As of lately, I have been focused on being transparent, while running a small business. I have always been a fairly open and honest person, if someone inquires me. However, as of last year, I have been on a mission to not hide behind a computer screen or rose-colored glasses. In a short period of time, I have really learned a good amount about transparency while running a business.
If you’re running a business by yourself, you know how tough it can be to grow and scale your company on your own. However, one of the things I have learned that helps with pushing your business to new levels is a community. Creating a community helps your business thrive, in addition to, it creates a family. In the past two years, I have been really striving to build a community.
As a kid growing up in Miami with my family and cousins, I felt like I had more siblings than I actually did. We were extremely close, which helped me truly appreciate having family around. A couple of years later, my dad got stationed in Texas, so we had to move. Our huge family disappeared overnight. We just left…my parents, two siblings, and myself. Most people who follow me on social media are familiar with my sister and niece. However, I have an older brother named Demetrices. We had a many differences when we where teenagers. Over the years, we have both matured and built a better relationship with each other. I am very thankful for him.
Last week, I was in Dallas for client meetings and I stayed at his home. During my couple of days there, he taught me several lessons about business and life. I thought they would be great to share with my audience.
Over the last couple of weeks, we have discussed the process of creating digital products for your business. I want to note that you don’t have to be a service business for this. You can be product based. If you’re an expert on a subject, you can create a digital product to help bring in a passive income for your business. Read up on these series: Transitioning From Retail To Consulting, The Creative Process of Digital Products, and Digital Products For Service Based Business.
Back in 2009, I read Malcolm Gladwell’s book, The Tipping Point. It was brilliant to me and created a soul searching moment in me; causing me to think about how someone could affect some else’s tipping point without fully being aware of it. Now that I look back at it, we all have a chance to create our own tipping point.
I tend to lose track of time not realizing how long I have been doing something. Especially since I found something I really love doing which is consulting. Today, I wanted to share my personal story of transitioning from retail to consulting. Never took the time to actually elaborate on switching industries completely. I just took a leap.