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Entrepreneur Alert! 4 Common Sense Tips

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Theressa

Theressa is an enterprising Web Designer who wants to live in a world where excessive consumption of coffee is good for you, humans love + pixels are colourful. When she’s not tapping away at her Mac, you can find her captivating her Brady bunch with impromptu renditions of Bruno Mars' "old school vibe" Treasure. Or flicking through the captivating works of Danielle Laporte. Her latest mini lesson - The No Bullshit Web Designer - is free + available for excessive consumption immediately.

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As a fledgling entrepreneur it’s hard to maintain focus when you’re so damn eager and determined to take that cushy seat as CEO of your own entrepreneurial empire. I hear ya!

You’re dying to turn that idea into a business but there’s so many “new” things you have to get your head around to take that next, seemingly small step. Often, the fastest way to get there is to enlist or invest in the help of an expert for those things that simply take up too much real estate in your head or take far too long to implement on your own.

The one thing you’re likely unaware of is that each investment holds the potential to throw your dreams and your bank balance into the red by way of the TFAR TAX.

Theressa, what the hell is the TFAR TAX?

Ok, so I completely dreamed that name up but it’s very fitting and I encourage you to share this post so more people are aware of this sneaky tax. Its common name is: Taken For A Ride (a.k.a ripped off) TAX.

Unfortunately, most if not all, industries have one and as a Web Designer I’ve been seized to help clean up the results of this tax one too many times.

The guy’s (and girls) responsible for imposing this tax are simply opportunists who overprice and under deliver, if they deliver at all. They lay in wait to take advantage of any of the following traits you might display:

  1. You’re vague about the scope of work you need done.
  2. You don’t know enough to know any better.
  3. You’re dangerously desperate for a resolution.
  4. Or all of the above.

How it Usually Works:

You need to enlist the help of an expert. It could be that:

  • You need to get a website up for this killer business idea you have.
  • You need some swanky copy written for your website that can’t progress to the next stage without it.
  • You got a flat tire on the morning of a “very important meeting” that could potentially give you the boost in business you need as a fledgling. So you need to find a tire fitter to fix it like yesterday!
  • Last night you celebrated landing that “very important deal” with an excess of bubbles and some of your girlfriends (you should always celebrate any win as an entrepreneur). Now it’s midday, you’ve got a massive hangover and desperately need to find a cleaner to fix the mess before your landlord shows up in roughly 2 hours to inspect their beloved property.
  • You’ve decided it’s time to take on a Virtual Assistant to manage the administration tasks you’ve come to despise as you’re almost chained to your computer these days not to mention you simply don’t have the bandwidth to figure out how to use a spreadsheet.

continue reading on the next page…

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  • Marie Overfors

    Hi Theressa – Your point about being very clear about the scope of work especially resonates with me. Thanks for the useful info!

  • http://chicwebdesigns.com/ Theressa

    Hey Marie, it’s also the hardest to execute because we generally hire people to undertake tasks that aren’t our specialty. Which is why point 1 + 3 are just as important.

  • http://www.madamletmetellyouonething.com/ Liz Scully

    I outsource all the time – and LOVE it. But as I was getting used to it, it took a lot of time to transfer my usual work routines into repeatable business systems. Once they were it’s so simple to outsource – till then, it’s painful and scary.

    Once you’ve done a few though and start thinking about systems – you realise that almost everything IS a system… so most things can be outsourced. and that is fabulous!

    • http://chicwebdesigns.com/ Theressa

      Hey Liz, thanks for that great piece of insight. I feel you on LOVEing outsourcing ;) Removing the things from your to-do list in order to focus on the things that you love to do + that make you money is priceless really.

  • Jewels

    These were GREAT tips Theressa! Thank you so much for sharing them with our readers. There are times, especially when starting off, that you are vulnerable to being taken advantage of by clients, sponsors, peers, and just about anyone you encounter. Knowledge is power and research is your friend!

    • http://chicwebdesigns.com/ Theressa

      Hey Jewels, it was a pleasure!

      “Knowledge is power and research is your friend” should be plastered front and centre of the home office!

  • Emily

    Ha! I love TRAR! So fitting! Thank you for your helpful tips on how to navigate through this. There are so many people offering so many things, sometimes it hard to know who is the real deal! I’m all about outsourcing but I must admit in the past I’ve paid TRAR tax! No more!

    • http://chicwebdesigns.com/ Theressa

      “There are so many people offering so many things, sometimes its hard to know who is the real deal!”

      I hear you on that Emily!

  • http://www.MyMiBoSo.com/ Sabrina

    TFAR is brilliant Theressa! That’s why one of my big missions in life as a coach is to help my clients strengthen their intuition – so that their choices don’t come out of fear but rather out of a sense that (1) the person they’ve decided to hire is someone they trust and click with and (2) they trust THEMSELVES enough first to do the work they need to do before seeking outside support!

    Really great post!