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3 Signs You Will Be A Successful Entrepreneur

3 Signs You Will Be A Successful Entrepreneur

Source: This article was originally published on CNBC.
Written by: Courtney Connley, CNBC Make It

I sat down with Lisa Rachel Snyder. Snyder, 35, formerly worked in the television and film industry, and had decided to transition to entrepreneurship after her brother’s tragic death by suicide.

The shock of his death inspired her to pursue a more fulfilling life, including making a career change and seeking treatment for an eating disorder she says she struggled with for 20 years. Snyder wanted to help others build healthy relationships with food, and sought my advice on how to turn her passion into a business, growing into an entrepreneur role. 

Those looking to make it as an entrepreneur need to have three things:

  1. A crazy passion for an idea
  2. A “burning desire” to be their own boss
  3. A product or service that people will actually pay money for

Right now, Lisa’s got two out of three, and that ain’t bad. But in order to build her business, she’ll need a clearer idea of the exact service she plans to offer.

Lisa is at a crucial moment for any entrepreneur defining her product and its market. What is she selling, exactly? Who is she selling it to, and how? How much will it cost? Who else is doing the same thing? How is she different and better than her competitors?

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To help her figure out the answer to all of these questions, I asked Snyder to envision what she wants her life and business to look like 10 years from now. I advised her to create a business plan, and map out precisely what it is she’s selling. I told her to start thinking about where she will get her customers who truly believe in her business.

I think about Lisa’s life as a before-and-after story. Before her brother’s untimely death, she was trying out jobs and careers and searching for some elusive concept of success. After, her grief and recovery helped her find her dream and her drive: a life of helping people heal their relationship with food.

When I checked in with Snyder seven months later, she’d settled on a name for her service, Beautiful Badass Method, and created a seven-step program for individuals looking to develop intuitive eating habits and build self-love. She had completed a testing phase, offering the service for free for several months, and says 50 people signed up.

“I got wonderful feedback. I got testimonials,” she said. She’s developed two online courses and also has a few speaking engagements lined up. “It was like my trial round.”

When I asked how she thinks her brother would feel about what she’s doing now, she responded confidently: “I think he’d be really really proud of me.”

Suzy Welch is the co-founder of the Jack Welch Management Institute and a noted business journalist, TV commentator, and public speaker. Through its online MBA program, the Jack Welch Management Institute transforms the lives of its students by providing them with the tools to become better leaders, build great teams, and help their organizations win.

1 comment

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