So you want to get into your own business and be the boss? Before you go running out and setting up shop, let's figure out a checklist of actionable details for making your dream come true. Even if you have the money in your pocket to get started, you should not make a move without a plan. Sure, you have some ideas of what you want to do but you're excited to get started. Not good enough.
You have several options to choose from.
Are you first of all mentally and emotionally prepared to run a business? Is this your first or your fiftieth? Can you take a concept from start to success or are you more comfortable taking over an already successful operation and keeping the business running smoothly?
Most people fall into one of three categories with a subtle blending of each. They are either Starters, In-Betweeners or Finishers. Each category solves problems and approaches work from a slightly different point of view.
Starters
Starters tend to love the idea phase of a project. They can conceptualize very well and see the big picture. They tend to want to lead the charge. They are not that interested in the minutiae and details. They may not be great at finishing long term projects. They focus on strategic management, design and planning, motivational speaking, teaching.
In-Betweeners
In-Betweeners are able to analyze a current situation and improve the process that already exists. They are great at coming in and cleaning up the chaos created by others. They may not be great self-starters.
Many people with these traits need a plan of action and benchmarks to keep them happy.
Finishers
Finishers work well at tying up loose ends and getting the fine details accomplished. They are used to saving the day. They focus on quality control, customer service, after-market sales and closing.
Begin by analyzing your reasons for owning a business. I recommend that if you haven't run a business before, go online and do a search for personality tests. Some of the online tests are geared to business and entrepreneurial personality profiles. If you're in business and you're having trouble, I suggest you take the tests.
Do a few to determine your entrepreneurial abilities. If you plan on investing your time, energy and money into something this important, you had better treat it like a marriage. You'll need to be prepared mentally as well as physically.
Evaluate your skill level and interests. What are you really good at and how does your experience translate into a business venture? What problems can you solve with your business ideas? The goal of your venture should begin with your vision of the future. Are you managing the business every day, calling the shots and making things happen, or are you providing capital, meeting with the board of directors and overseeing a portfolio of business ventures? Your idea of the future should match your reality of the present.
The greatest cause of business failure is not lack of money, it's lack of business experience. Many people think that running their own business is the same as knowing how to do their job. No, it is not. If you have the time and the patience to start your business from scratch, you'll need the education and the endurance as well. That means you need to decide if you're going to buy a business or start one from scratch. Before you begin the process of business building, get to know your business personality profile.
There are many factors involved in making the final decision. Depending on your intended level of involvement, you'll want to draw from your past experience and interests when choosing as well as the future potential of the marketplace. If you have a talent for making mustache wax, that might be a unique niche market idea as long as the numbers work in your favor. Get the book “Double My Revenues” to get more information on starting and successfully profiting from your business.
If new to business and you fall into a perfect blend of Starter, In-Betweener and Finisher and cannot decide which area to emphasize, I'd say start with an affiliate program to learn the process of marking and sales. An affiliate program will sharpen your skills and get you ready for your full time business. | | Author Info: Dennis Francis |
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