Alright – so today we’ve got the honor of introducing you to Jessica Rice. We think you’ll enjoy our conversation, we’ve shared it below.

Alright, Jessica thanks for taking the time to share your stories and insights with us today. What was it like going from idea to execution? Can you share some of the backstory and some of the major steps or milestones?

Taking the BIG leap from idea to execution isn’t as straightforward as we sometimes think it is.

At least it wasn’t for me or any other business owner I have spoken to recently.

*It also doesn’t have to feel as risky.*

I have known many risk-averse individuals who have planned their ascent into entrepreneurship that incorporated risk analysis and calculation. In fact, not taking a risk is a risk in itself.

How do you then make the leap?

It comes down to these 4 key areas:

Your Idea, Market Research, Knowledge (expertise), and Planning.

**First, you must start by looking at your idea.**

Even if it isn’t fully formed, determine if it is something that has some criteria for success.

Here are the two most important considerations before starting:

1. Is it something you feel passionate about pursuing?

If you are passionate about pursuing this endeavor beyond yourself, that is a key criterion for success. In my experience, starting a business as a founder or co-founder has more to do with passion than risk. It has to be something larger than yourself that you believe in wholeheartedly. It has to create an immense desire that fuels you forward, even when you are going through the valleys.

If you don’t feel passionate about it, then stop here. If the idea isn’t something that you see carrying you through the lulls of entrepreneurship, then it won’t be successful. Going the distance as a founder requires stamina, and you cannot continually rely on endorphins and the exhilaration of momentum.

2. Can it be profitable?

Ideas for a business must be profitable. If it is a conscious business or non-profit organization, it will need to be valued through traditional or non-traditional means of creating financially stable and growing. This could come through personal connections, networking, contracts, or financial investors. Regardless, the idea has to fill or service a need or commodity that others find beneficial.

**The second area of focus is Market Research.**

If you feel passionate about the idea and can produce income, you are off to a good start. Initial ideas often have the beginnings of one of these, but the other portion remains cloudy. Performing market research is a great way to start narrowing down your idea into specific markets or niches that you can use to formulate your idea better to cater to a specific subset of the population.

Market research is an ongoing process for a business owner. If you continually research your market, you will narrow the gap between known and unknown data points.

Beginning steps could incorporate:

1. Search engine research. You can up the ante using tools like Answer the Public or Marmalead (product-based) to help with search engine results and optimization.
2. Polls and surveys. Gain insights from your target audience to determine key interests. Leverage built-in tools from social media platforms or integrate with CMS systems leveraging Google Forms, Type Form, or SurveyMonkey. The possibilities are endless.
3. Reviews and feedback from clients. Nothing provides key insights like those from your clients or customers. Incorporating feedback and incentives for taking the time ensures customers feel valued while tightening the feedback loop.
4. Leverage AI tools, such as ChatGPT, to query the web and help you narrow down your offering. Indexing tools can help streamline efforts and act as a feedback partner.

**The third consideration is knowledge and expertise**.

Assess honestly your level of expertise and vested interest. You may not have all the necessary knowledge, so it’s important to incorporate the key gaps to fill and time to acquire skillsets, expertise, and credibility.

Key considerations are:

1. CertifIcations
2. Growth Opportunities
3. Relationships

Map out which areas need expansion. Gather data on top schools, courses, and timeframes. Determine which will provide the greatest path to your goals. It may not be the shortest timeline that provides the greatest training or credibility for future growth. It’s important to keep in mind how you plan to brand and market yourself later and what key certifications will play a role in that effort.

Look for opportunities to advance your skills and growth outside training. This could be in your existing role or pro bono through online networking groups, offering training, discussions, or mentorship. If it is product-based, you can do case studies and offer sample products in exchange for feedback, discounts, and reviews.

Relationships play a key role in any business, whether it is a business coach working with you to achieve your goals or investors looking for a reliable track record. Develop relationships with mentors who may provide guidance on pitfalls to avoid or who can act as a personal reference in the future.

Understanding key relationships is crucial for developing a long-game plan and determining the timing for when to transition fully.

**Finally, start planning your transition.**

Realize that success may not happen overnight.

Map out a plan to achieve your goals in tandem with progressing tiers of gaining clientele, customers, or financial backers. You can develop OKRs to track your progress and develop systems for scaling in preparation for growth. Track your development in each area of growth and measure your progress.

Treat your business like a business, even if you are not making a profit.

If your idea requires funding, developing your long-term business plan and goals to achieve milestones will be pertinent. Get your articles of business in order. Preparation is the gift of peace.

Start learning and leveraging tools that will help you with running your business. This will set you up for success when the time comes to move into entrepreneurship full-time. You don’t have to invest in the fanciest tools, but seek out systems that can scale or later integrate. Google Sheets is free and can later be imported into project management or lead generation tools. If you think expansively here it will save you headaches down the road.

Remember, developing systems, processes, and tools takes time. Learn to let go of what no longer serves you, or in other words, do not become married to one way of doing something. The greatest gift you can give yourself is adaptability, patience, and the grace to fail. You will fall, but if you are passionate and driven, you will have the resilience to succeed.

Entrepreneurship is a long game. It requires being nimble and curious, recognizing when to pivot and try again, and having stamina and conviction. When you can make your goals bigger than yourself or the money you make, you will find the courage and tenacity to see them through.

By following a formula for success, you are not banking on dreams but reality.

Awesome – so before we get into the rest of our questions, can you briefly introduce yourself to our readers.

I am Jessica Rice, The Vision Evolution Coach™. I hold certifications as an ICF coach, speaker, entrepreneur, and host of the Hello You Show podcast. I focus on guiding visionary leaders to craft a legacy they genuinely adore.

As an executive leadership and business coach, my mission is to empower my clients to elevate themselves and achieve their next-level objectives and distinctive visions. I’ve had the privilege of learning from industry experts and delving into areas such as transformational leadership, executive presence, neuroscience, and business strategy.

I specialize in fostering authenticity in leadership, business, and brand development. I assist in aligning visions with overarching goals, creating strategic roadmaps, and defining personal missions. My client base spans diverse industries, including technology, government, biosciences, art, music, health, fitness, and holistic wellness. I also dedicate my time to supporting transitioning special forces personnel in finding new career paths.

One of my passions is empowering women to embrace their innate strengths, unique value, and purpose. My podcast, The Hello You Show, reflects this passion, where I meet with other inspiring visionaries to shed light on these topics and more.

What else should we know about how you took your side hustle and scaled it up into what it is today?

When I first began coaching, I worked full-time as a corporate front-end engineering team leader and manager. It started as a way to grow in my leadership and became a passion and a higher calling for my life.

It wasn’t a fast transition, as it required understanding my essential knowledge set, pivoting my trajectory, and aligning my natural strengths. I didn’t have a background in psychology, so I took as many certification courses from top industry coaches as possible to better understand how to motivate leaders and inspire change. My favorite aspect of coaching is witnessing an individual’s shift in thinking about their challenges and ways to approach them differently.

It took me five years of certifications, building up clientele, and developing my coaching practice to transition to focusing on my business full-time. I also had a lot to learn about starting a business, and I hired one of the top business coaches to help me quickly learn how to maneuver the online world and market myself differently.

A lot of time, energy, and resilience went into making the shift, but fulfilling a life of greater service and freedom has been rewarding.

We often hear about learning lessons – but just as important is unlearning lessons. Have you ever had to unlearn a lesson?

I also had to unlearn some things along the way. My mindset had been focused on performance and the continual need to prove my worth. Coming from a corporate background, many high-achievers struggle with feeling like their efforts are enough. I had high expectations of myself and my progress. There were times when I felt I wasn’t progressing fast enough, and I had to work on my inner dialogue to stop bad habits of negative self-talk and believe in myself.

Business owners have to bet on themselves. There isn’t someone else who is as invested in your success. This is true for life, but it can feel lonely. This is why I enjoy working with top leaders and entrepreneurs, shifting their thinking and developing strategies to define their purpose and increase their resilience.

When we feel like giving up or wondering why we are pursuing our dreams, that is the best time to lean and ask where you want to take your life, legacy, and higher calling. It all comes back to passion and the impact we can leave this world.

Contact Info:

• Website: https://jessicaricecoaching.com
• Instagram: https://instagram.com/jessicaricecoaching
• Facebook: https://facebook.com/jessicaricecoaching
• Linkedin: https://linkedin.com/in/jessicakarlrice
• Twitter: https://twitter.com/RiceCoaching
• Youtube: https://youtube.com/@jessicaricecoaching

Image Credits
Women Thrive Summit, CNTV Denver, Orbit Media Photography