Date of publication: 2017-09-05 18:52
For advice on financing your new business, you might want to work with a free expert consultant from SCORE , the nonprofit resource partner of the Small Business Administration that’s dedicated to educating entrepreneurs and helping them succeed.
87. You re seeking a new challenge. Maybe you&rsquo ve hit a wall at your current position and become extremely bored. That&rsquo s not always the best situation to be in if you re someone looking for a new challenge. Starting your own business is challenging, however, and should fulfill that need.
You certainly don t have to think back very far historically to come up with the name of a business owner whose enterprise has changed the world. Mark Zuckerberg anyone? Bill Gates? And your business doesn t have to become the next Facebook or Microsoft to be the agent of powerful change. Ten years ago, for instance, Torben Vestergaard Frandsen came up with the idea of the LifeStraw , a personal, low-cost water purification tool that is being used to provide safe drinking water to millions of people.
Since the My Own Business Institute (MOBI) course is broken down into fifteen of the most important topics to consider in starting or operating a business, your business plan can easily be organized into this same format. You can download the business plan template included in this session, fill it in and print.
7. You feel a need to help people. Should you feel a strong desire to aid others by providing a product or service, consider it one telltale sign you re primed for starting a business. This desire to help people enhance their lives can keep you going during the highs and lows of running an operation. I&rsquo ve found over the years that the strongest companies emerge from a wish to help the world solve a problem.
Let's have a look at the pros and cons of owning your own business. These are some of the main points that will help you get a better idea of what's involved.
8775 I love owning our sweet community yoga center because it challenges me and gives me purpose. Yoga is a gift and I love sharing it with the world. 8776
6. The lightbulb went off. Lately many are debating whether entrepreneurs are born or made. No matter which side you agree with, perhaps you&rsquo ve been aware that you exhibit some classic entrepreneurial traits. Maybe you&rsquo re ready to take the leap and start a business?
65. You feel a need to prove your vision. Let&rsquo s say you have an idea but everyone is telling you it can&rsquo t be done. What are you going to do about this situation? This experience might be motivation enough for you to try to one-up the naysayers.
Don't bother telling Fleckenstein how much money your idea is going to make. He's only interested in how much it's going to cost to get off the ground, how you're going to fund it and how you're going to support yourself until your business makes money. He finds that prospective business owners often underestimate their expenses and overestimate how quickly the cash will start pouring in.
Don't depend entirely on the uniqueness of your business or even a patented invention. Success comes to those who start businesses with great economics and not necessarily great inventions.