It’s a risk, and there is no way around that. Heck, getting into your car
to drive to work everyday is a life-threatening risk some days. It’s all in
how you look at it. Ask yourself a variety of questions before spending that
first dollar or designing that first business card:
1. Are you willing to stick your neck out and have a few setbacks
before success rolls in?
2. If the setbacks out-number the victories for a while, would you
say:
a. I wasn’t meant to work for myself, or
b. I just haven’t hit my stride yet; I need to try
another approach?
3. If you operate in the black for three months straight would you:
a. assume you are on the road to riches and relax your
efforts or standards, or
b. build on what you’ve done, knowing more of the
market share can be yours?
4. If you find that your work is taking up too much time, would you
a. scrap it, figuring that it’s just too much for you, or
b. reassess your time management, seek outside help, or
eliminate a less profitable piece of your venture?
You can see where this is going. The "big picture" question would
be, "Are you a self-starter, or are you comfortable working in an already
established business environment for which someone else is ultimately
responsible and liable? There is certainly nothing wrong with the latter
stance; the economy and work force need people in these positions. But you
wouldn’t be reading this newsletter if you fell in that category.
Even the most ambitious of us naturally envision obstacles. There is a way
to regard these obstacles so that they are simply turned into
"challenges," to use a 90’s expression. In doing so, we find it
easier to jump in and take them. Here are a few thoughts on that:
1. Is a portion of your venture looming too large for your comfort?
Break it down. Let’s say your forte is not paperwork; you’re more of an
"idea" person. You might perceive record-keeping as an obstacle. By
breaking it down, you can see what needs to happen. Given the assumption that
you are not in a financial position to contract this out, you will simply need
to form a plan for yourself that corresponds with your work style, then stick
to it.
a. Contact your local SCORE office. They have loads of
materials and software recommendations for this purpose. They can clue you in
to what types of documents you will need for tax purposes. And plan to invest
in some of the software.
b. Ask the advice of an entrepreneur that you know.
c. Draw up a schedule for yourself and post it
conspicuously so you will always know what paperwork needs to go where and
when, (i.e. sending out invoices, paying invoices, writing "thank
you" letters, completing inventory order forms, etc…)
2. Are you worried about financing your venture? Plan from the start
to NOT draw a paycheck for yourself for quite some time. Likewise, don’t
stress out (unless your bills are mounting) if it goes on a year before you
see the fruits of your labor. Again, your SCORE office can provide information
on financing your venture with minimal interest paid.
3. Are you worried about not being able to find enough customers?
The answer here is to do your homework! Do not be a stranger to research. If
you know your market, you will be in a much stronger position to succeed. Find
out a few things before you jump in.
a. How many other companies are out there that
provide the service or product you do?
b. Do any of them offer anything unique to the
service or product? (Likewise, how can you do something that none of your
competitors do?)
c. What is the future of what your customers will
need? Will you be providing a service or product that will be needed for many
more years? Can your service or product adapt accordingly to the changing
needs of your customers?
d. What is the profile of the customers who will
patronize you the most and maybe give you large volume business?
4. Are you unsure how to set up your office or workspace? There are
loads of books on this very topic. Important note here: Do not start up your
venture until you have a workspace identified and set up. Find a place in your
home so that:
a. it is quiet, can be wired for a phone, fax, computer,
and printer
b. it is away or sectioned off from your family’s
living spaces, but close enough that you can still be an effective spouse
and/or parent
c. it is clear to others in your home that when you are
in this space, you’re "on the clock" and need to focus on your
work
d. you can plan plenty of time away from this workspace,
and then try to put it out of your mind so that your family knows that your
full attention is with them
e. you can establish some very important rules with your
children before they see you in your new routine. When you are on the phone,
you are off limits unless it’s an emergency. If you have a separate phone
line, make sure your children know to never pick it up when it rings. (Voice
mail or an answering machine would be a wise investment here. But check it
often, and get right back to your callers.) Your workspace is off limits when
unattended by you.
Before you start, take some time to think through every barrier you may
find. Don’t let them discourage you; instead, look at them as opportunities
to reach out and network with other like-minded folks. Ask questions, go to the
library, depend on your local SCORE office, and regard your setbacks as chances
to learn how to improve your methods.
