Phase Two

So, I know it has been a while since I have written a post.  Sorry to my legions of readers (haha) to keep you waiting for so long.  There has been plenty of behind the scenes action going on since my last post and LOTS of lessons learned about entrepreneurship.  In fact, I have probably learned enough to provide me with material for several more entries, so prepare for an uptick in content!

Lesson Number One: You need to have FOCUS to achieve SUCCESS!

This lesson may seem so obvious, but I will provide you with and example of how I learned it the hard way.  Last fall I decided to make some changes to the supply chain for my product in order to provide a "new and improved" version based on my experiences and customer feedback from the "Beta Launch" in 2010.  We worked on sourcing new suppliers, a new co-packer, and new production methodology.  There were a lot of balls in the air.

At the same time, I began to think about how I would continue to capitalize the business, and if there was any potential for current income to support some of the investments I would be making in inventory and marketing.  I got the "brilliant" idea of working with a fairly new company to do some consulting while I reworked my own business operations.  I figured it would be a great opportunity for me to generate some additional cash flow, and continue to share my expertise in early stage business financing with others who needed help.  A win-win, right?

Wrong!  The new project turned out to be a terrible drain on my time and energy and so thoroughly distracted me from my own business that I ended up getting weeks behind on my production schedule when I should have been focused on pushing my business partners to move faster.  The slowdown ended up costing me a few months delay in the relaunch of my product and aggravating a lot of customers who were counting on having Mamatini available while they breastfed.

Once I decided to drop the other project and focus my attention 100% on my OWN business, things magically started moving forward much more smoothly and efficiently.  I was able to recognize that ramping up my own business faster was much more valuable that any additional cash flow I would have generated from a part-time consulting assignment.  Sure, it meant I had to dip into my savings a bit, but the additional focus I have on my business makes me feel so much more confident in it's financial success.  It has also left me feeling a lot less stressed and truly able to use my creative focus to come up with great ideas for promoting sales.

We all know that finding the capital you need to support your business can sometimes require you to divert your attention elsewhere.  But making that leap to focusing your complete energy on your vision, even if it feels risky, can make the difference between rapid success and an idea that fizzles out as you get distracted by other responsibilities.  If you believe in your vision, and your business, give it 100%, you'll be glad you did.