It’s not often that you find a millionaire in a 9-5 job. They tend to work for themselves, whilst the average person may find this position to be risky, because let’s face it, there are a million things that can go wrong.
But what if you had the belief that things will go right? Act on your ideas and cash in on them. Sure it can be scary facing the unknown, but think of the freedom to create a business that you enjoy and like to work in.
A secret to failing is to put everything into one business venture without a business plan to follow. So what pointers can you follow before you jump into business?
- The old cliché – Do something you love! That way you are never going to feel like you are at work. You can look at the likes of Richard Branson, Tony Robbins, Donald Trump, all their stories confirm that they did what they loved to get where they are!
- Find a problem and solve it. There are plenty of things out there that that people want to know how to fix, how to over come, how to be better at. Or use an old idea and make it different somehow. Not better, different.
- Make sure your business fits your lifestyle. I have seen businesses suck the life out of people, you may as well stay working for someone else. Design your business around your life, what’s important goes in first and anything else will go after.
- If you cannot run a business then invest in one or several. But make sure that you understand what the business is about, how it works and how it makes money.
- Have a plan for growth, and make sure you take action when you can to expand. Look at those celebrities that start a singing career to then have parfumes, clothing lines and recording companies to their names.
- Make sure that your business is scaleable with minimal effort and money.
- Choose something where you don’t have direct employees. Sure you need a team to assist you, but let’s see if you can utilise the services through other arrangements. Review and evaluate their performance constantly. If it’s not up to scratch, make sure you address the issue.
As much as I am a strong advocate for business, it is not for everyone. Business plans are pretty simple to follow, the biggest hurdle is managing yourself. Are you up for that challenge?