BabyBoomersBlueprint

If you’re reading this, is it fair to guess you have some interest in starting your own business? You may not know what business, you just know that you were created to be more, do more, and that includes owning your own business. It’s quite exciting just thinking about the possibilities of owning a business, having flexibility and autonomy are advantages that top the list when dreaming of being an entrepreneur. It’s very easy to get caught up in the idea of it all, but what are the realities of owning your own business? What should be considered before starting? And how do you fit it in with your current full-time job? All of these are very important questions and I’ll take you through step- by-step so you can make the right decision for both you and your family.

1.    What is your passion?
As a new business owner, you’re going to spend lots of time thinking, planning, and dreaming about your business. Pick something you are passionate about and have a very strong interest in seeing through to the end. Let your passion be the driver and not the need or want for more cash. I learned many years ago that when you’re passionate about your work, money follows. My experience in corporate America, and possibly yours as well, is a demonstration of this very philosophy. For employees who loved their jobs, promotions followed because they didn’t mind staying late, learning new skills and technologies, or going above and beyond to help team members and clients. These are the employees who thrived at work and reaped financial benefits as a result. The same applies for your business. Future clients will feed off of how you feel about your business. If you’re not passionate, they’ll know. If you’re in it for the money, they’ll know. So choose what you’re passionate about. If you’re unsure or have been jaded by the financial outlook of today’s economy, think back to when you were a child. When the main concerns were school work and friends, this is when you were at your purest self. What did you enjoy doing as a child? Could that be applied to a business? For some of you, going back that far may not be necessary. In fact you may be sitting on that great idea right now. It may be something that friends and family have said for years, “you should sell that” or “that’s a great idea, you should market that”.

I have a friend who is super organized. She loves containerizing, planning, and putting things together. For many years she’s talked about helping others get organized as a side business, but has been hesitant to get started. At the end of 2008 she got laid-off from her job despite having recently completed her master’s degree. Imagine if she had started that organizing business before her layoff, just think of how much more she could have accepted of her fate. Most recently I received a message from her on Facebook and she’s currently working with a relative and a friend to get them organized, and they’re paying her to do so! I’m very excited for her and hope this will give her the boost she needs to move forward in her organizing business. Are you like my friend, depending on your current job to get you through? Please don’t. Nothing is guaranteed and you must be responsible for your own financial outcome. What better way than to own your own business doing something you love? Let’s say you know what you’re passionate about, but are not sure of the time that will be required working a full-time job and starting a new business.

2.    Be realistic about your time.

Anyone in business will tell you it takes more than 40 hours a week to grow a business. You’ll find yourself thinking about it even when you’re not trying to. A new business is like a baby. It must be nurtured and cared for, requiring your time and attention even when it’s not convenient. This again is why it’s so important to have a business that you are passionate about. I don’t mind eating, sleeping, and drinking my business because of the great joy I feel when I’m working. I don’t even like to call it work because it’s so pleasurable. If you know your time is limited because of other obligations, choose a business that can work and function without you. Yes, this is possible! Thanks to the advancement of technology you can have a business where you earn money in your sleep. Businesses such as network marketing, affiliate marketing, and more are all businesses that work continuously for you. Once you’ve developed a core target market you can develop a strategy that puts your business in front of them regularly whether it’s through emails, blogs, websites and more. In the mean time, I want you to think realistically about the time you have to commit to your business.

I wish you much success in determining what your new venture may be, and if I can be of any assistance, please don’t hesitate to reach out.

Come back again for Part 2!!

“Take control of your destiny or someone else will”