As I have often mentioned in previous articles, through my journey as an entrepreneur, I have learned to observe and learn in everything I do….
Yesterday, we were out for a convertible ride, and as we were passing through small villages in out of the way places, I couldn’t help but notice all the small businesses being run by residents in small villages. Almost every building in each small village, as well as the houses, had a business sign out. It reminded me of “the way it was” before the industrial age. Everyone had their own small business and were very self reliant. People then did not rely on corporations or government to provide for them. Locals supported each others business, and it created a community.
I believe this is becoming more important to people again. We see this in small and medium sized towns. People wanting to support their local merchants. In talking with many in the millennial generation, I have found it is important to them to support local people in business, and many go out of their way to do that, which is wonderful! All types of local businesses, farmers markets, etc are part of what make a community, a community. A loyalty is built in reciprocal business.
Another consideration is, we live in a very changed world. No longer are people working at a job for life, retiring and being looked after. Many are finding themselves needing to continue working past 65 due to economic challenges over the last few years. A challenge for those in this age group is being hired at their age. What many forget is the vast amount of knowledge and experience, interests, and hobbies they have gained over their working lives. There are so many directions a person like this could take to start some type of business for themselves so they are not a victim of age discrimination, and are creating a self reliant financial future for themselves.
There are many people that work more than one job. Many millennials hold 2 or 3 jobs. This is an indication the individual is not afraid to work and are willing to do what it takes to earn a living. What most just don’t consider is taking that time and energy you are using for the side jobs, and put that time and energy into your own start up. It doesn’t have to be a big business idea. Think about how much you are earning at the side job, and ask yourself what you could do instead to equal or exceed that income in some type of business of your own. It isn’t a lack of opportunity for self employment that stops people from taking this step. It is a lack of belief in themselves, and a lack of creative, solution oriented thinking. Why “sell” your hours to an employer for minimum wage when you could start building your own future in a business that you actually enjoy. Remember, you are either building YOUR own dream, or working to build SOMEONE ELSE’S! If you are willing to work, why build someone else’s? The ONLY job security there is today, is building your own security.
Downsizing has affected many that never thought they would be affected. There are many professionals that thought they had a lifelong career with their employer. Downsizing isn’t the end of the road for these individuals. It is a FORK in the road, requiring creative thinking to determine what different direction could be built with the knowledge and experience you have gained. A question to ask yourself in this scenario is “my work and my experience is highly valuable to any employer…therefore it is just as highly valuable to my own potential startup….how can I utilize it to build my own business”.
Think back to the days when everyone had their own “shop”….the butcher, the florist, the vet, the baker, the seamstress, the shoemaker, etc., etc. Those people managed to create a living for themselves. They didn’t have corporations or government to “look after them” or provide “security”. They got busy and created it themselves, or they didn’t eat or have a roof over their heads. They took personal responsibility and found a way to create a living for themselves and their families. I have also noticed some of the most successful entrepreneurs are often people from other countries, that came here and DECIDED to take their skills and build a business and not wait for someone else to save them. This comes down to a choice….a choice to utilize your own human potential to build your future, instead of selling your hours to an employer that has absolutely no interest in your long term future.
The more people that realize and take responsibility to create their own work, the more self reliant and mutually supportive our communities will become. As I passed through these small towns, I got a feeling that everyone there seemed to be an entrepreneur. They wouldn’t have all their signs for business services out if they bought into the perceived need to only work for employers. These small town business people are demonstrating independent thinking, community support and self reliance. A lesson that anyone from any size town or city can learn from.
-As published on: http://bizcatalyst360.com/getting-back-to-the-entrepreneurial-mindset/#sthash.PBzEXKYg.dpuf
Many dream of starting a small business, however few actually follow through. There are a number of reasons for this lack of follow through, but most are avoidable.
I don’t have the money – A business decision is not based on “having the money”. If this was the case, most would never start a business. Make the decision, and then figure out a way to raise the capital. It is amazing how creative one can get when they want something bad enough.
Raising capital – this is one of the biggest things that holds people back. Many will say “if I can raise the capital I will get started”. Their “decision” to start their business is dependent on this. Successful business owners think the opposite. They make the decision to get started, and then go to work to figure out where they are raising the capital required. Even if it is a challenge to find the funds, they do not give up…they go to plan B, C, D, or E if necessary. All successful business owners figure out how to raise the capital required. A line of credit or, LOC, is a great way to finance start up costs with small businesses.
I don’t have experience in that type of business – I have never had experience in any of the businesses I have started over the last 30 plus years. What you need is a willingness to learn, and take personal responsibility to learn whatever you need to. This can often be an advantage over someone with years of experience – those individuals can get stuck in the past instead of continuing to learn and grow. The new person sees the business with a fresh perspective and new ideas.
I am afraid I will fail – This is a fear almost everyone has. Those that create success as an entrepreneur push through this fear and are willing to do what it takes for as long as it takes, and understand, it is simply part of the process. Change your mindset to: “I will make this work”. Be willing to learn, grow, and do what it takes. Keep the commitment you make to yourself!
My kids are too young – This was the REASON I started my first business. I wanted to be home with them, so I started a home based business. There are so many options available that allow you to work around your family. Today there are more people than ever working as independent contractors – providing their work service to companies from their own homes. You have to decide if the age of your kids is going to be the REASON you take this control of your work, or the EXCUSE why you can’t.
I have to pay for my kids college – This is in the same category as my kids are too young. Many businesses can be launched in your spare time around your F/T job to allow you to make more money and actually pay for their education. It is not an “either/or”. Ask yourself how you can start a side business to pay for their college expenses, instead of attempting to take it out of the income you have.
The timing isn’t right – Successful entrepreneurs often start a business at the worst possible “time”. When the door of opportunity opens, successful entrepreneurs do not hesitate to jump in with both feet. It is vital to embrace opportunity when it is presented. When you have experienced this, you will understand everything usually falls into place, despite whatever perceived obstacle you may have been concerned about. Successful entrepreneurs embrace new ideas and make bold decisions to move forward when opportunity is presented to them.
One of the skills I have developed as a business-owner, is the ability to make decisions quickly. When opportunity presents itself, it is vital to make the decision quickly, and then figure out the details to launch the small business. Often I see individuals attempting to have everything figured out in advance, and many end up not moving forward and miss the opportunity they have in front of them, because of some small detail. Those that drag out the decision making, will usually find a million excuses why they can’t move forward. Just as interesting is those that make quick decisions and take action to make it go right, are utilizing a powerful entrepreneurial skill that will assist them in creating success.
It's important to understand that each action step we take will often reveal the next step to take. CLICK TO TWEET
We can’t always predict what that step will be, and those that are attempting to have everything perfectly figured out will usually never get started.
I don’t have time – It’s been said if you want something done, give it to a busy person. It’s interesting how much you can actually get done, when you eliminate all the time wasted, and only focus on spending time on high payoff activities.
Age – I’m not old enough/experienced enough, or I’m too old – Desire and attitude outweighs the number on your birth certificate. You may not have experience, are you willing to learn? You may be in your senior years but have the desire to be self employed. Stop using that number on your birth certificate as an excuse. I have known very young entrepreneurs as well as people in their 70’s and 80’s starting businesses.
Another quality of a successful entrepreneur is the ability to make powerful, bold decisions. One must trust their intuition and be willing to take action. The decision making doesn’t require long drawn out “thinking” and analysis. Make the decision, and then start working step by step to launch the business.
Successful entrepreneurs have developed the ability to make judgement calls. CLICK TO TWEET
This comes from trusting your gut. This could be in hiring staff as an example. You may have 2 equally qualified people, but your gut is favoring one over the other. Trust your gut and make the judgement call.
Make a list of everything that needs to be done once you have made the decision to move forward. Check each item off as you complete it. Some things will take longer because there may be a learning curve. Don’t let that stop you. Be willing to learn whatever you require and keep taking positive action steps forward. If you get stuck on something that is going to take longer than anticipated, get busy doing something else on the to do list. You must keep the momentum going and keep taking pro-active action.
Avoid the critics – I absolutely guarantee that someone close to you will think you should not get your business started. This “well meaning” advice is one of the biggest reasons people don’t get their business ideas started. Every single successful entrepreneur has had to push through the well meaning advice of those that are NOT QUALIFIED to give you that advice. Stop listening to those that have never had the courage to pursue their own dreams, or those that “tried” and gave up. That would be like taking marriage advice from someone that has never been married, or has been divorced 3 times!
Trust your intuition – Trust your heart, and if it feels right, don’t waste time, keep taking the next action step you can take, as quickly as possible. When a business idea is in front of you, make a decision! One of the most successful entrepreneurs on the planet, Richard Branson has a saying – “screw it, let’s do it” When a business idea is in front of you, ask yourself, does this make sense, do I want to move forward? If the answer is yes, don’t let any of the excuses stop you. Be solution oriented, and move forward as quickly as possible.
Successful entrepreneurs make decisions quickly and change their minds slowly if at all. CLICK TO TWEET
Successful entrepreneurs don’t need weeks or months to make a decision. They get the details and decide – yes or no. They don’t have to “think about it”. If it makes sense, they take action right away. Successful entrepreneurs understand, they don’t need to “think”….they need to DECIDE. This is a key difference in those that want to start a business but never do…
As posted on: http://bizcatalyst360.com/starting-a-small-business/
Debbie Ruston - Entrepreneur - International Trainer, Visionary Leader