Steve Coombes’ Journey From Failure to Successful Solopreneurship
This is Maternity Leave‘s first dad guest, and what a guest he was! Steve Coombes, is a dynamic and passionate entrepreneur with a wealth of experience in both business and personal development. As a devoted family man and successful business owner, Steve exemplifies the balance of professional achievement and personal fulfillment, encouraging others to pursue their goals with intentionality and purpose. Join us as we delve into Steve’s journey, exploring his entrepreneurial spirit, and unwavering commitment to creating the life he always dreamt of living.
The Importance of Taking Risks and Learning from Failures
Steve Coombes’ entrepreneurial journey is a testament to the power of resilience and learning from failures. After being laid off from his corporate IT job, Steve took a leap of faith and ventured into entrepreneurship. His first attempt, a software business for churches, didn’t succeed as planned. However, instead of being discouraged, Steve used this experience as a learning opportunity. He emphasized the critical role of effective marketing and sales strategies in any business’s success.
Key Takeaways:
- Embrace Failure: View failures as learning opportunities rather than setbacks.
- Effective Marketing: Successful businesses require strong marketing and sales strategies.
- Resilience: Persistence and adaptability are essential in overcoming entrepreneurial challenges.
The Mindset Required for Successful Selling
One of the most valuable insights Steve shared is the mindset required for successful selling. Understanding the needs and desires of potential customers and demonstrating how your product or service can fulfill those needs is crucial. Steve believes that successful selling is not about pushing a product but about providing genuine solutions to customers’ problems.
Key Takeaways:
- Customer Focus: Prioritize understanding and meeting the needs of your customers.
- Genuine Solutions: Offer products or services that genuinely solve customers’ problems.
- Authentic Selling: Avoid sleazy sales tactics and focus on building trust with customers.
Freelancer vs. Entrepreneur: Understanding the Differences
Steve also differentiates between being a freelancer and an entrepreneur. While both involve working independently, freelancers often rely on a single client for income, which can be risky and limiting. In contrast, entrepreneurs build businesses that can scale and provide more flexibility and security.
Key Takeaways:
- Income Security: Entrepreneurs have the potential for more diversified and secure income streams.
- Scalability: Entrepreneurs can build businesses that grow beyond their personal capacity.
- Risk Management: Relying on a single client as a freelancer can be risky; diversification is key.
Flexibility and Family Time in Entrepreneurship
Flexibility is one of the greatest advantages of entrepreneurship, allowing Steve to travel and spend quality time with his family. He shared stories of his children’s entrepreneurial ventures, such as his daughter’s cottage baking business and his son’s gourmet nuts business. This flexibility not only benefits Steve but also inspires and supports his children’s entrepreneurial dreams.
Key Takeaways:
- Work-Life Balance: Entrepreneurship can provide the flexibility needed for a balanced family life.
- Inspiration for Children: Entrepreneurial parents can inspire and support their children’s ventures.
- Quality Time: Flexibility allows for more meaningful family interactions and experiences.
Future Goals and Passion for Coaching
Looking ahead, Steve aims to scale his businesses, continue his coaching work, and help one million entrepreneurs start and grow their own businesses. His passion for coaching is evident in his plans to reestablish his coaching community and continue his podcast, “Solopreneur Success.” Steve also discussed his insurance business and potential exit strategy, emphasizing his commitment to guiding others on their entrepreneurial journeys.
Key Takeaways:
- Scaling Businesses: Steve plans to grow his existing businesses and support more entrepreneurs.
- Coaching Commitment: His passion for coaching drives his goal to help one million entrepreneurs.
- Long-Term Vision: Planning for the future, including potential exit strategies, is crucial for sustained success.
Steve Coombes’ story is a powerful reminder that with the right mindset, resilience, and a focus on genuine customer needs, anyone can overcome entrepreneurial challenges and achieve success. His journey from a failed business to a successful serial entrepreneur is an inspiration to all aspiring entrepreneurs, especially those balancing family and business life.
Access Steve’s FREE coaching community- solopreneurcoach.com.
Connect with Steve
LinkedIn | https://www.linkedin.com/in/stevecoombes/