People choose to go into business for themselves for different reasons. Some people want the freedom of being their own boss. To them, freedom means not being a "slave" to someone else, and having to plan their life around someone else's needs and demands.
Other people choose self-employment because even if they are making $100,000 a year, they still feel as if they are selling themselves -- their time, their energy and their creativity belongs to someone else.
Still others choose to work from home in their own business because they want to spend more time with their families, or want to be the one who raises their children.
If you're thinking about taking the plunge and are considering going into business for yourself, it's important that you choose the right business from the start.
Too many people quit their paying jobs in order to pursue their own business only to end up in the unemployment line looking for work and drowning in debt from their efforts.
So how do you find the right business for you?
First of all, decide WHY you're going into business for yourself. What are your dreams? What is your motivation? What do you want from owning your own business? (And it's important that you're as specific as possible.)
If, for example, you want a business that's going to earn you a salary of $50,000 a year, then you need to find a business that has the potential to give you that kind of return on your investment.
If you want to be home with your kids, and have a part-time income to supplement your family's standard of living, then look for something that will give you the flexibility to achieve your goals.
Next, you need three things:
- DESIRE
- DISCRETION
- DISCIPLINE
DESIRE ----
If you think that running your own business is merely a matter of using your brains then you are sure to be disappointed. Successful entrepreneurs have a common thread no matter if they run the run a country gas station or a Fortune 500 company - DESIRE. If you don't have the drive and determination to work for yourself - if you can't give up the security of a regular pay cheque - you will have great difficulty working for yourself.
DISCRETION ----
Expect to fail. There are many opportunities available. Some are good, some are frauds and several are absolutely perfect - for YOU. Each individual's strengths and talents will impact which business model will suit them best. If you are very shy or hate to talk to people than it would be wise to stay away from businesses that require a lot of face-to-face selling. If the product is not something you would personally use it is not something you will want to promote and that will show in your efforts.
Take stock of your abilities and interests and try several businesses that are related. Not all will suit you, but trying things will ultimately improve your business skills overall. If you do fall for what turns out to be a fraud, consider it education and move on - you will not likely make the same mistake again.
Consider talking to business owners who do what you want to do or to people who may use your product or service. Research the business and read the fine print!
DISCIPLINE ----
You don't have a boss or a time clock, but if you expect to make a living then you will have to discipline yourself. Have a schedule that you follow every day. Plan your time wisely. Although many procrastinators actually do well working for themselves it is still vitally important to know what needs to be done and to have the discipline to follow through. A few bad jobs or unhappy customers can have lasting impact on your business.
Many have found great happiness and success working for themselves. Enjoy the search and find YOUR perfect business!
Cheryl Antier is a former VISTA (Volunteers In Service To America) Volunteer, and is the President and CEO of Dream Weaver Enterprises, a business and fundraising consultancy firm that helps nonprofit organizations and small business owners. Her Website offers free articles, information and resources for anyone who needs to find funding so they can "weave their dreams into reality." Sign up for a free newsletter and let us do all the grant research for you each month: http://www.microenterprisesuccess.com
Cheryl Antier
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