Did you know that out of the population of people who start a new business every month, over 65% go out of business in the first year (at some time, my friend); and most, if not all, of them, went into the business because they had a ” flushed with the idea”, so to speak, of their future in business.
The reality is that someone somewhere is going to do it. Someone has to do it and if you are prepared to spend the money and take the winds as they come, you could (and usually do) make a better income than all the rest. However, early on you will need to swim with the sharks. If you are prepared to take on the process you have to do both:
1) Spend the money.
2) Take the risks.
3) Analyze all the opportunities and see which one you can do.
You might need to hire someone like a chief financial officer (CFO) to help you gather the financial parameters; because, if you are going to be the boss and invest the money, you will need to have a total picture of what you are doing (in terms both financially and legally) and have a clear picture of the risks you are taking. In any business, even something as small as running your own landscaping business, it is highly likely that you will be taking a certain percentage of the profits between when you get paid and when you pay out your advertising budget or wages. Would you like to profit from doing your gardening but have, let’s say, 10% profit going off at the end of the year? I think so. For those people, they are getting into the business because they are:
1) wishy-washy with the information and even if they did, they couldn’t make any of it happen.
2) confident of themselves and their ability to get the business to take off. Did they have any customers and if they didn’t, they knew it and were willing to do what it takes to get them far enough to prove themselves.
3) were confident in their abilities and through a lot of determination and belief in themselves earned the confidence to run a small business.
Isn’t it fair to say then that the ability to possess all 3 of those things to make good money in the first place is a skill that can be developed? It is.
There are many others who have got there on their own basis and who wouldn’t mind if you took the plunge and put your financial future into your own control.
For those of you out there who are looking at an already existing business and willing to invest your money and take a chance on what you want, then there is an opportunity out there for you. I’m not suggesting you go out and try to buy a business, although that can be a way to do it. Do your homework first. Go to Google – Google markets.com and find a business or service you would be interested in. Check their history with their referrals, look at the references and demands of their existing clients. Budget your money again and see if you can get yourself involved. Commit. Make sure that you are able to follow through on any commitments as you go. Focus on a small arena. Don’t start off thinking you are going to be rich overnight and keep thinking that; build your entire business plan to support that. Last but not least, commit to some form of finance or get loans to run your business.
In conclusion, if you are prepared to learn the skills, hard work and resolve to build the business you want – you can do it and be in control of your future. You will have a product. It will probably have value and if you don’t already have a marketing plan as to how you intend to get the word out about your offering i.e. if it is recession-proof and perhaps you can even give the proposition a catchy, cool tag line that will really make you the go-to guy – then go for it. Please, don’t add into your plans things just to plan them. If you can’t do it, don’t start. You are either too ‘buttered’ to be bothered or you are not successful enough yet to put in all that effort for nothing. If you really want to be successful in any business, it is because of the effort you put in. Nothing else.
and yet, once you start you will see that you get not only the business, you will get on with the rest. Look out for my next article on what to do and say to others who dreamt of it, “Help me start.