While starting your own business from scratch is not for the faint at heart it most certainly warrants exploration. Given the tidal wave of unemployment and the instability of the times it just makes sense to take matters into your own hands. You will need a plan.
Determine your current state, your risk tolerance, your preferred style, your team and your anticipated approach. You might even have a "what's next?" plan or a way to transition out of your business in a profitable manner. This is called an Exit Strategy.
Current State: How great is your desire? How great is your need? What skills talents and interests do you have that might be transformed into income producing generators? What additional training or preparation is necessary? I've heard both Anthony Robbins and John Demartini say that the quality of our lives is directly linked to the quality of the questions we ask ourselves. Ask yourself questions that feed you and lead you where you want to go.
Risk Tolerance: What are you willing to risk to build your business? How much time, money and resources can you invest? If you are like others during these times, your own money is minimal. If so, how much time and energy will you invest in identifying other funding sources to get your business off the ground? Where can you exchange effort for $$ if you don't have money?
Preferred Style & Your Team What aspect of the business resonates most with you? How will you work and who or what do you need to complement your efforts? If you are a great graphic designer but you don't like sales how can you market your business? If you are great in finding wonderful artifacts at flea markets, how will you make them available to collectors or specialty shops? Who will manage or how will you manage your books? You may have to kiss a lot of frogs to find the right team. Skill, experience, character and style can all be important.
Anticipated Approach: Where will your business operate? How will it operate? How will clients or customers find out about you and how will you deliver services? Answering these questions will help you to get off the ground. In the formal world of business, many of these questions are laid out in your "Business Plan."
Exit Strategy: Will you create the kind of business that you can pass on to another? How will you ensure the viability of the business. Is it only a short-term entity designed to manage a short-term circumstance? Is it something you can build and sell?
There are great resources to help you answer many of the above questions. You should begin with deep introspection. Think and write or talk to yourself and record. Examples of potential "Business from Scratch" ideas as well as some potentially useful resources are everywhere. Quantum success can be your reality. Good health and obtaining outrageous wealth is a process. Are you ready?
Author: Clifton McKnight, M.Ed., Founder of Motivision Inc., Maryland promotes success, happiness and community through keynote addresses, workshops, and media. Through technology and print the world has access to insights and inspiration for generations to come while those in the moment can experience, live, the visions of things to come.
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