DO GOOD X

Ep. 29 Taking The Leap: How To Go All-In On Your Business

10/29/24

Welcome to this DO GOOD X podcast episode hosted by Kimberly Daniel and Stephen Lewis. Are you ready to take the leap and go all-in on your business idea? Today, they'll explore the critical steps entrepreneurs must take before transitioning their side hustle into a full-time venture. From mindset shifts to financial planning, system setups, and legal considerations, this episode offers a roadmap for those ready to scale their business. Be sure to join the DO GOOD X LinkedIn community to connect with fellow entrepreneurs committed to purpose-driven growth.

In This Episode

[1:48] How do I know when to go all in on my business
[5:34] Getting the right mindset to take the leap of faith
[9:45] The importance of making sure your idea is viable
[11:36] Your budget should look at expenditures from several months to several years, which also requires financial projections
[15:43] Having systems and staff in place to support your business processes
[17:21] Hire a professional to assist with the legal structure of your business

Key Takeaways

Entrepreneurs should elevate their business from part-time to full-time when their finances, mindset, time available for their project, community support and legal structure allow them to work full-time on their business
If an entrepreneur doesn't have the proper mindset, they can be their own worst enemy. People can talk themselves out of believing in themselves or hamper their confidence in the business's product or service. Positive affirmations are essential
Obtain affirmation of your business idea by testing it in the marketplace. Don’t just get the approval of your friends and family; do some testing in the market to establish the need for the service or product you want to provide. Do people like it, and will it solve a problem?

About The Hosts

Kimberly R. Daniel

Kimberly R. Daniel catalyzes entrepreneurs and organizations to do good. She is co-founder and project director of DO GOOD X, a community that provides programs and support for faith-driven social entrepreneurs whose businesses focus on positive Change.

Kimberly also helps purpose-driven organizations clarify and design compelling brand and communication strategies. With over 15 years of experience developing and leading communications efforts, she is committed to producing effective processes and creating authentic, “sticky” brands that are community-centered.

In addition, Kimberly has nearly ten years of experience as a certified life coach. She has facilitated workshops, spoken to communities, and written about innovation and entrepreneurship centered on social impact. She co-authored A Way Out of No Way: An Approach to Christian Innovation (2021).

She is deeply passionate about purpose, meaning, and the common good in any aspect of her work.

Social Media to Connect:

Stephen Lewis

Stephen Lewis is the president of the Forum for Theological Exploration (FTE) and the creator and co-founder of DO GOOD X. This community provides programs and support for faith-driven social entrepreneurs whose businesses focus on positive change.

He is an organizational change strategies and leadership development specialist focused on inspiring the next generation of faith-inspired leaders and entrepreneurs to live and work purposefully. Stephen co-authors Another Way: Living and Leading Change on Purpose (2020) and A Way Out of No Way: An Approach to Christian Innovation (2021).