- For most people the underlying reason in starting a home based business is freedom.
- Are you open to and accepting of new things like technology and a changing business environments?
- Unless you have a pile of cash underneath your mattress or have come into a small fortune, the safest way to start an online business is to keep the job you have while you are pursuing your side hustle.
Before you begin working on your business, you need to work out what you want to do with it. Think carefully, the answers you come up with might just surprise you. Creating a business from scratch may seem daunting at first, but as you become more familiar with the “Internet of Things” and the basic terminology you will be up and running in no time! It is essential to first understand when you are starting out you must have a clear concise vision coupled with a sense of purpose before you begin this journey. This is a demanding process and it will take your time, energy, focus, and all the strength you can muster but it will be worth it!
In many cases their will be a trigger, something that starts your adrenaline to start moving. In some cases the reason to start is circumstance. This could be something traumatic, such as being made redundant, or even something more positive, such as coming into money.
For most people, however, the underlying reason in starting a home based business is freedom. This might be freedom to be able to do something you enjoy, freedom from the tyranny of a traditional 9 to 5 job, or freedom from the corporate culture that permeates our present society.
To be able to express oneself in a way that is truly authentic and profitable at the same time is intriguing. Or, freedom that being able to define the amount of money you would like to make and create a future for yourself and your family might be your reason. Their is no doubt that working for yourself gives you a level of self-determination that simply doesn’t exist within an organization. If you have a good business, after all, you can pick and choose your clients.
Have You Got What It Takes?
Think of business start ups and dozens of weird images start to pop into your head. Shows like Shark Tank and Entrepreneur.com’s “elevator pitch” start to become so riveted in your mind that you imagine yourself being of those contestants pitching your life and dreams away to strangers who may or may not value what you have to say.
The problem here is that very term “entrepreneur.” Thirty years ago American businessman Michael Gerber tackled this in the book The E-Myth: Why Most Businesses Don’t Work and What to Do About It. A common misconception of an entrepreneur is a smart-suited, Mercedes-driving, fast talking individual. A maverick risk taker. The consequences of such a misconception is so idolized that you really can’t tell fact from fiction. Now, I don’t doubt that television plays a major role in this and I certainly don’t fault them. I can only tell you that the entrepreneurs that I have met none of them fits this particular ideology. Entrepreneurs are hard working individuals who have taken it upon themselves to venture out and dared to see their dreams become a reality. They have risked a lot, sometimes all, to make a purpose out of their passions and face the inevitable obstacles along the way with unwavering courage.
Here are a few character traits that are in these entrepreneurs that I speak of and maybe you to will find yourself in one of these traits.
1. Determination. Above all else you MUST have determination. Do you have the drive and stamina that it will take to take your dreams with a defined goal to its entirety?
2. Humility. Certainly not a quality that you would pair with entrepreneurship but non the less, are you able to be one who does not know everything and is willing to open to the possibility that you are not the smartest person in the room? Are you open to and accepting of new things like technology and a changing business environments?
3. Decisiveness. Nothing gets done unless their are capable individuals who are willing and able to make the tough decisions when they need to be made. Developing and online business requires that one takes the lead necessary to get from point A to point B. If that is you then you are in a great position to become a successful entrepreneur.
4. An analytical mind. Since we are most certainly in the “age of the Internet,” it is incumbent of us to have an intelligent mind. At most if we are not born that way we must be willing to train ourselves and expand our thinking in this technological society. With the global atmosphere changing day by day we must have the tools necessary so we may produce the most effective and efficient outcomes possible. Since we are now in transition due to the coronavirus, we are forced to embrace change or be left behind.
5. Leadership. Who can lead? In any business organization you must have leadership that is going to steer your business in the right direction. Leadership must be authentic. It must be centered, focused and imbue good character. Leaders must be willing to hold themselves and their team accountable as they look at their vision, mission, and goal. If leadership does not contain some of these traits then the outcome of the objective is doomed before it starts.
From Little Acorns
Unless you have a pile of cash underneath your mattress or have come into a small fortune, the safest way to start an online business is to keep the job you have while you are pursuing your side hustle. For most of us, this is how a business can remain thriving while maintaining the other. Another benefit to this is that having only one source of income is dangerous, especially in this day and age, and to have more than one income stream is a must.
By starting small, you can test the waters and see if a business is what you really want or are you infatuated with what you see others have. My aim on a validity of an idea is to quantify the benefits and be real about the not so benefits. If I am not able to make a certain amount of income on a yearly basis to leave my day job, then the thing to do is to stay. On the other hand, if I am producing my products and/or services suitable to meet the market and maintain profitability, then I know for a fact this is worth doing. You and only you can determine the cost benefits.
Is This The Right Time
Good question. Is this the right time for you to venture out on your own and follow your dreams? Again, only you can answer the question. You have to be able to look at the complete picture and if that picture says yes, then the answer to your question is a resounding YES! If you are not sure like most people aren’t, then get all the information you can on your industry, have a financial plan, and have a team that will support you through the tough times.
You have to be real about everything and since we are all living in a little bit of uncertainty it would be wise to delay if you don’t have all your ducks in a row. I would suggest that in times like these if you are willing to entertain the idea of an online endeavor then I believe you should. Why? The cost to entry is low and if you have a willingness to learn then the possibility of bringing your ideas and passions to life are more closer to becoming a reality more than you know.
Planning-What’s Stopping You?