In an economy that you can never be sure if it is going to work out for you or not at your current job the most secure thing to do is to start a company. DO NOT quit your job today! The goal is to build a company that can guarantee your income in the future.
Everyone that has been in the school system has been shown one path "Go to School, Work hard and your will get a job to secure your future." A mindset that may have work a few decades ago, but now just look at the world around you today. Jobs are sent overseas and are disappearing, and the labor that is required to work along with the hours you need to work as create an insecure future that leaves you little room to enjoy life. Now more than ever you need to start thinking like a successful entrepreneur and secure your future by starting a business.
Keeping your day job is another income coming into your home, but remember to back your finances. Working for one company means you have all your eggs in one basket, they control when you work and how much they will pay you. Controlling your financial future regardless how bad the economy gets is controlling your life.
Are you ready to take a crack at entrepreneurship? If so start on this path to ensure your success.
Getting Started and Creating a Something to Sell
The most important part of succeeding as an entrepreneur is letting your ego go. Check your priorities in order along with checking your ego, so it does not get in your way. Success is working smart both with your time and money. Setting goals, planning steps to achieve the goals by being confident in your planning. Do not be your worst enemy by getting in your way of success. Keep plans simple to follow, overthinking an idea stress you out and make you feel like nothing is ever getting done. Build a business with the basics, no complication to slow progress.
A product is necessary to bring income to your business, so it is important to create a quality product for your customers. Think carefully about the product, marketing technique, and worst case that could develop for your business. Always prepare for any and every possibility that comes to handling the chaos in your business to prevent catching you off guard when situations come up. Think ahead and plan about four alternative ways to reach goals in your company. You will have a plan 'A, B, C, and D' to hold you over and keep you moving forward.
Bring a fresh point of view to the market
Do think you need to reinvent a product that already exists? Save yourself the time and just be original. The majority of goods on the market already cater to it consumers. The consumers are used to them, be a success in a chosen market to embark on a successful business venture. Focus on customizing an idea that already exists in your business.
Use a creative spin to market your unoriginal idea. Take a look at "Fit Men Cook with Kevin" He has turned a known fitness professional and chef skills and created a community of healthy eating with men that work out. He creates delicious meals at home and shares recipes with the community; he shares his products to support his business and do it successfully. At the core, it is another personal trainer business, but he brings his personal flair on it. Make sure your business is set up for success, not doomed to fail in a few short months. It pays to start a business that is efficient with minimal monetary demands, in the beginning, to save on cost and time. As an entrepreneur, in the beginning, you may be strap for cash, so start a business with the money that is available. Your business idea needs to start by focusing on making a profit with a small startup cost. Start learning to Save at Every Opportunity
Starting a business means learning to be wise with your money, it is important to start rethinking the way you spend money. Understand the difference between what spending is necessary to your business and what is frivolous spending. In business, you have the ability to bartered, bargain, and even partner up with other business to cover the cost. Do your research before partner up with another business to make sure you are not only compatible but profitable. It is never smart to mix business life with personal life, it may seem simple at first, but things get messy sooner than you think. The most important part is keeping your business safe that means making sure all legal aspect of your business is in order, and all loopholes are covered. Never underestimate, the power of money, when it comes to money people change quickly. That partnership that may seem simple and profitable in the beginning may later turn into a disaster. Partners may not have the same dedication as you, they may not do any work and expect same rewards or legal issues again can come along. The bottom line is to make sure to do extensive research on any partner you may be considering and make sure it is worth the profit in the end.
A new look at A Business Plan
Remember that long business plan that was required for investors to fund your business years ago? You no longer need that because you are most likely starting your small business by funding it yourself. So the best thing to do is to have a 1-page plan to know what you want to achieve with your business. Anything longer will just complicate things for you at this rate so keep it simple.
Your business plan will not be a source to generate income from investors. You are writing a plan for you to get started today to start earning a revenue as quickly as possible from your business. Writing a 1-page plan can take one day to one week so you can get started instead of a 100-page plan that could take half year. You just need your ideal on paper, set goals for your business, and then organize those ideas to achieve success. Leave the expert opinions; expensive advice from experts for when your business expand.
Clients will not just show up to your New Business
A new business is just that 'NEW' so that mean it could have little to no traffic coming its way. For your business to turn a profit, it needs clients; that means getting the word out. Marketing your business is important to get your name out to the public to turn a profit. Remember just as you are putting a new spin on an old business you need to market your company in a new and creative way. Use today's innovative ways to sell yourself without always selling, build a name for your brand that people trust and respect. Join online forums, create social media pages, and don't be afraid to network at every opportunity. Every time you get a chance to put your business in front of someone 'DO IT', it is an excellent way to create a trail to get new clients to come and see.
Fear Never taking the chance to Fail
The fear of failure can hinder a lot of us from trying in the first place, so as a result they never do. Looking back at your life five years from now, just a little progress is better than nothing. Why? Because you took the chance, your life is steps ahead of where you were before.
"Never feel shame for trying and failing, for he who never failed is he who never tried." Og Mandino
Think of how many ideas you have had and later on to see someone else profiting off of it because they took action to turn it into a business. You can't get mad and say 'That was my idea!" because you never follow through with it. Ideas, business, and profits that come along with taking the chance at starting a business can be attained by anyone. Be afraid of sitting at home and letting 10, 20, or even 30 years and realizing your life never change, you never follow a career path that made you happy.
Break Away From Your Parents and Society Expectations
It is easy for others to tell you what to do with your life, living that life is another story. The old way of doing business is no longer as profitable as the older generation may think. You need to realize that there is a new way of doing business and earning an income. For you to live a comfortable life, you need different streams of continuous income to enjoy life. With your original idea, smart thinking, and creating a brand to sell also you can be the boss, set your hours, and benefit from the profit that business make. It pays to use your time wisely to maximize result by building your financial future.
At the end of the day, you want to secure your financial future, and the only way to do that is to control your finances. The economy may go up and down but have different streams of income means you will always turn a profit. Entrepreneurship is not easy by any means, but the rewards are worth the work. In the end, you are allowed to control your time, how much you earn, and know where your future is heading without the guess work.
Nothing is wrong with a 9 to 5 J.O.B. if you were not born financially well off. Remember you can fix your financial life by taking control and creating a business that supports and allow you to live a lifestyle of freedom.