Everyone who starts a business probably imagines stellar business success for themselves. No one becomes an entrepreneur with the intent to fail. But this raises an important question — What does business success mean in the divorce industry?
First we have to define some important terms:
- Divorce services means providing planning and facilitation services for people going through divorce
- Success as defined by Dictionary.com means “the accomplishment of one’s goals”
- Business success… Hmm, let’s dig deeper on this one.
There are many ways to define ‘business success’. Ask a hundred people what business success means to them and you will get a hundred different answers. We could consult the dictionary again but the true definition of success is unique for every business.
In an interesting article that included the answers of 62 business leaders when asked what success meant to them, I found two that I liked in particular –
“Success, for me, isn’t measured through superficial metrics such as money. Rather, I believe success is measured through the positive impact you have on the lives of others…” – Mo Al Adham, co-founder of TwitVid.com
“To me, success means working toward my dreams. As long as I keep moving in the right direction I feel successful.” Cara Newman, Editor, Young Money
So, what does “divorce services business success” mean to you? Does it involve the number of clients you have? Your profit margin? Your work/life balance? Does it have to do with helping others get through a very difficult time in their lives in the most peaceful, supportive and cost-effective way?
As the Cheshire Cat told Alice, “If you don’t know where you are going, any road will take you there.” (Through the Looking Glass, Lewis Carroll) It is vitally important to your business success to know where you want to go (i.e., your definition of business success) so you can take the right road there. Take the time to define what this is for you. Don’t get stuck on how someone else defines it.
Whatever you decide is your definition for your divorce services business success, it’s going to take some concentrated effort for you to achieve it (no big surprise there). The disheartening statistics* show that:
27% of all small businesses fail in 3 years or less
55% of all small businesses fail in 5 years or less
82% of all small businesses fail in 10 years or less
* from Dun & Bradstreet’s Business Failure Record
Why do so many businesses fail? According to the Small Business Administration, it is largely due to poor management. New entrepreneurs may have big dreams and a passion for their work, but may not have all the management skills they need to keep their business going in the right direction. But don’t let the statistics discourage you from starting your own business. There are steps you can take to mitigate the risks.
What can you do to promote success in your divorce services business?
- If you feel a lack of knowledge in the areas of financing, cash-flow analysis, business taxes, marketing, etc., find ways to educate yourself or get help from an expert.
- Make sure you have sufficient capital. It takes more than you think to start and run a business, and you will need to have enough to cover your business and personal expenses while you build your business.
- Develop a strong business plan. You can get help with this from the Small Business Administration (www.sba.gov) or from SCORE (www.score.org).
- Have an ongoing marketing system.
- Once you’ve got things rolling, don’t forget to regularly re-evaluate your business management plan.
Another way to improve the chances of your divorce services business success is to get the training and ongoing support that comes with joining the Divorce With Dignity Network. As an affiliate business owner, you have your own business but also the benefits of expert advice and proven business management techniques. You start off with a nationally-recognized business name and a webpage on the Divorce With Dignity website (which will generate referrals), as well as help in developing your unique business plan. To learn about many more benefits that come with being a Divorce With Dignity Network affiliate, please visit our website at www.peacefuldivorcebusiness.com. We would love to help you achieve your divorce services business success goals!
The author of this blog is not an attorney and the information contained in these blogs should not be considered legal advice. The information provided here is based on the experience of the author and some of her clients whose actual names are not mentioned. Do not hesitate to seek the advice of an attorney if you have any legal questions.