Are you READY to be an entrepreneur? Steps to Starting a Small Business

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Over the last three weeks, I had the pleasure of leading a group of women entrepreneurs through the Business Smart Workshop created by the US Small Business Administration (SBA).  This info-packed program was hosted by Coastal Women’s Ventures at the YWCA Lower Cape Fear in Wilmington, North Carolina.

While the content in this program was truly educational, the most powerful part of the program was bringing women entrepreneurs together in a safe and supportive space. When women come together with a common intention to support each other, powerful things happen.  We uplift each other. As the facilitator of the group, I learn from each of the women present.

Ladies - that you for sharing your experience, advice, and stories with the group.  Your participation and engagement made this event an uplifting experience for everyone.  Special thanks to Acquinetta Beatty for organizing this program.


Being an entrepreneur is hard.  It’s a journey of ups and downs, shifting from scary depths of fear to soaring heights of excitement over and over again.  It’s for strong women who have a calling and purpose. But entrepreneurship isn’t a new idea. We can and should learn from the experiences of the entrepreneurs that came before us, and those that are around us.  We should take advantage of all of the programs, mentors, training, personal and professional development opportunities available to you. The more niche the content, the better!

America is a nation of small businesses.  According to the SBA, there are approximately 30 million businesses in the US, employing nearly 60 million people.  Over 75% of these businesses represent self-employed individuals. Small businesses make up 99% of the employers in the US and create 65% of net new private sector jobs.  Yes, entrepreneurship is the backbone of the US business economy!

Part 1 of the program, the “READY” module, focused on what a startup business owner must do to get organized and ready to start a business. This module is great for people thinking about starting a business, new entrepreneurs in the early stage of their business, as well as a good review of practices for existing business owners.  One of my favorite takeaways from this module is 10 talents identified in a Gallup survey of 2,500 highly successful entrepreneurs:

  • Business Focus

  • Confidence

  • Creative Thinker

  • Delegator

  • Determination

  • Independent

  • Knowledge Seeker

  • Promoter

  • Relationship Builder

  • Risk-Taker

Don’t be discouraged if you don’t have all of these talents right now.  While some may have come to you naturally, others may need to be learned and developed.

Small business success is impacted by several factors.  On the financial side, a business needs access to capital and resources, and strong management of cash flow.  On the leadership side, a business needs a solid plan, experienced team members, and management skills. Last but most important in my mind, is customer engagement and satisfaction.  A business that ignores the customer will fail no matter how much capital and experience available.

As you think about starting a business, facing a challenging time in your business, or if your business is doing well and you are considering expansion, consider the following questions.  

  • Are you clear about what you want from the business?

  • Are you determined to realize this long term goal?

  • Do you have the personal discipline to stick with your goal when times get tough?

  • How will you handle disappointment?

  • Do you have a support network?

  • Are you comfortable with uncertainty and being uncomfortable?

  • Are you prepared financially?

Are YOU ready to be an entrepreneur? Download the free checklist, Steps to Starting a Small Business today.  And, stay tuned for my next blog post where I’ll dive into Part 2 of the program, the “SET” module, focused on the fundamentals of business financial literacy, traditional and non-traditional funding, and business loan applications.

Jennifer Turnage is an entrepreneur, business coach, speaker, and author. As the Cofounder and CEO of myBeeHyve, she combines her experience from multiple tech company exits with her mission of empowering individuals to achieve financial independence through entrepreneurship. Connect with her on  Facebook, LinkedIn, Instagram, Pinterest or Twitter for support on your entrepreneurial journey. Download the free myBeeHyve app in the Apple or Google Play app stores to manage your prospects and customers with ease.

Coastal Women’s Ventures is a collaborative program with the Carolina Small Business Development Fund focused on creating and supporting small business opportunities for women entrepreneurs through business coaching, mentoring, small business education, and connecting participants to loan capital.

The YWCA Lower Cape Fear is dedicated to eliminating racism, empowering women, and promoting peace, justice, freedom, and dignity for all. The YWCA is proud to be the oldest and largest women’s movement, providing services for women and their families in our community. Local programs and services have furthered the YWCA vision of peace, justice, freedom, and dignity for all people since 1914.  We work to bring out the individual strengths of women and youth and to foster resiliency and self-sufficiency. Our philosophy, in keeping with the mission of the YWCA to empower women and families, centers on providing the skills and confidence needed to succeed.

In the interest of full disclosure, I am a volunteer member of the Board of Directors of the YWCA Lower Cape Fear.