Creating a successful business in all reality is very hard work. The easy way to honest riches is a facade. Having worked years to build my businesses the ideas below from Jeff Haden are a good start. Of course, not all of us have the luxury of creating a business with all our ducks lined up if you will. You may have been “laid off” as a fifty something viewing your best days as behind you. They aren’t. I started my businesses after my divorce of 30 years ended facing depression living in my car. The strategies below aren’t anything new. You’ll find to be brutally honest that you won’t be able to secure funding. You’ll doubt yourself. You can expect to give “running lean“ a whole new meaning. I could go on. Starting a business may be your only option. Be realistic. Don’t expect over night riches. Nor should you expect even while adept, social media to be a savior. You want clients. Which means you are going to have to ask more people than ever for the business. How? Be assertive. Take charge. If you’d like to speak email at my firm. Jim Woods
Anyone can start a business. What’s tough is starting a successful business.
That’s why, if you hate your current job, the best way to start a business is to keep your full-time job, maybe for years. Staying employed is, except in rare cases, the best way to dip a toe in the entrepreneurial waters.
Sure, that approach requires a tremendous amount of hard work, discipline, and sacrifice. But those are the same qualities you’ll need to succeed as an entrepreneur, whether you quit your job or not. Almost every successful business was built by an owner who worked incredibly, almost impossibly, hard.
Here’s how to start a business while keeping your full-time job:
1. Go lean. Most businesses spend money before they make money, and some go years before revenue exceeds expenses. No matter how much money you have in personal savings, it probably won’t be enough. Cut family expenses to the bone. Eliminate all personal spending that is not absolutely necessary. Start-ups often fail due to a lack of money. Besides, a lack of funds can drive you to make poor decisions for the long term. Cash creates options and freedom, especially the freedom to make the best decisions.
2. Be a superstar at work. You must continue to perform well at your job; lose it, lose everything. Yet you also need to spend time on your new business. The solution? Work incredibly hard at your job. Get as much done as you can within normal work hours. Eat at your desk. Be the outstanding employee who never has to stay late because she gets everything done during regular work hours. Time is your most precious commodity. Don’t waste a second. […]
Jim Woods is president of InnoThink Group and Leadership Matters. He has consulted and coached firms for more than 25 years. InnoThink Group is a global management consulting firm that works with leaders to transform strategy into reality. To arrange for Jim to come to your organization and help you develop talent, organize people to be more effective and motivate them to perform at their best select this link. Our focus is on making change happen and helping people and organizations realize their potential.