There are so many lessons to be learned about starting, launching and growing a new business. Yes the verdict is out – only about two thirds of new small businesses will survive after two years, and less than half within five, according to the Small Business Administration. The good news is this statistic is better than is used to be…the bad is there are still a considerable number that aren’t making it.

Here are 6 tidbits for what soloprofessionals need to do more often to grow their business and sustain overtime:

Decide – the word decision comes from the Latin word decidere, which means “to kill off any other alternatives.” Make the FULL commitment toward your business today.

Learn in action – there is always something new to learn, and more information to gather. However, it’s not until you move to action, get going, and learn while doing that real business know how and expertise comes about.

Take risks and be open to setbacks – this will help you grow as a new business owner. Don’t forget to also celebrate your triumphs and relish your redefining moments.

Build your business as a business right from the start – find a greater balance between the time you spend perfecting your skill as coach, consultant or practitioner, and learning business building skills. Design your business model so that you are not trading hours for dollars. Create ways to put your business on autopilot so that it operates with or without you.

Write the vision –at some point during your business development you will need to write a plan that outlines the vision and mission of your business. This important view of the future, is necessary for your business; otherwise, it will remain stagnate and cease to exist. Action leads to forward movement. However, this cannot occur if there is no goal or destination to reach.

Chart your course – as a new business owner you are traveling unchartered territory. This means you will need a compass, or guide to get you to your final destination – SUCCESS! This roadmap is essential to business building because it dictates how you will make money as well as clarify your unique system for how to solve your client’s issue or problem. Every successful business needs this.

YOUR ASSIGNMENT: Take some time to reflect and think about what areas of business building is holding you back. Set some new goals for how to overcome these stumbling blocks.

Stay tuned for part 2 – NEXT WEEK!