According to Bloomberg, 8 out of 10 entrepreneurs who start a business fail in the first 18 months. Thankfully, I never heard that stat before launching my advertising agency and marketing firm 8 years ago on March 1, 2008. I am the daughter of a successful business owner who unfortunately passed away before I ever started my company Purple Diamond. My Dad, who owned Baystate Systems and Forms Inc., never shared with me about the ups and downs of running his own business. He just made it look so easy and from my young eyes he was so successful and loved by everyone who knew him. I would later hear from my older siblings and mother that my Dad had to deal with many tough issues as a business owner and that his success came from long hours, hard work and having six children to feed. The business world was different back when he launched his company. He didn’t have to worry about the flood of competition from around the world or the difficulty of standing out with your brand because the birth of the World Wide Web had not yet happened. Back then a handshake was a contract and you could actually knock on doors and make Cold Calls without offending the business for not having a set appointment. You didn’t have to struggle to understand the importance of having a website, using Facebook, Linkedin and other social channels, and if you really need to publish a blog article each day.
Knowing all this, why would anyone want to launch a business today? Simple, the rewards are plenty. First, though you might work long hours in the beginning, you will have the choice of what hours to work and with a better understanding of your business you will eventually master your schedule and create the freedom that being a business owner provides. Another reason is the “cool factor”. Have you ever noticed at a party when people ask each other what business they are in how people will stop and ask more questions to the person in the room who owns a business? Other great reasons to start your own business: job security, pride of ownership, helping the community and sponsoring charity events, learning more skills, financial independence, creating jobs, and the one I love the best is having people identify you with your brand. Most people who have met me comment that I do a great job with branding. Since the business is called Purple Diamond I choose to wear the color PURPLE Monday through Friday to remind people of my business. The color PURPLE is often associated with royalty, nobility, luxury, power, and ambition. It also represents meanings of wealth, extravagance, creativity, wisdom, and magic. As a marketing coach I am passionate to help my clients succeed and make more money. Many of my clients over the past 8 years have come to me because they are stuck and want to move their business to the next level and I am happy to help them achieve their goals!
Happy 8 years in business today. “Success wears the Purple Diamond!”
Written by Blogger – Charlene St Jean, owner of Purple Diamond LLC.