A Business Opportunity Is Knocking

Most people don’t know that they go through every day missing an opportunity. And you are probably one of those people. You may not know it, but a business opportunity is knocking on your door every single day. And all you have to do is pay attention to these and take advantage of them.

Many people go through their lives wishing they could own their own business and stop working for someone else, but think that the opportunity to own their own business and work on their own terms is just something that many people dream about. The truth is that this is not the case at all. The truth is that a business opportunity is knocking on everyone’s door almost every single day.

The question is then how to be able to see when a business opportunity is knocking. This is a very simple thing to do. All you have to do is look at yourself and the market around you. And if you can’t find anything there, never hesitate to take advantage of the Internet because it contains countless business opportunities for anyone.

You have countless opportunities on your own. For example, if you have a skill or hobby that could possibly get you quite a bit of money, all you have to do is sell your services or your product. This is simple enough. You can sell to friends and use your social network to advertise your new business. And when you begin to get some actual customers, you can get a business license and expand. That is the simplest way to take advantage of a business opportunity.

If you look around you, you can also find many opportunities. Maybe there is a need for a product or service in your area and people want it replaced. This is an opportunity that is just there waiting for you. All you have to do is take advantage of this need and start a business in this field. For some ideas, this is a very easy thing to do, but some will cost quite a bit more, depending on the business.

If you can’t find anything in your own skills or interests, or even your area, then never be afraid to look on the Internet. If you have an Internet connection, then a business opportunity is knocking every time you click. You can start your own business doing almost anything on the Internet. It all depends on what you can or want to do with your own business.

If you pay attention, you will discover that a business opportunity is knocking on your door every day. All you need to do is watch out for the best one and take advantage of it in order to make money. You can experience the benefits of being the owner of a successful business. And if you can’t find one around you, you can find one on the Internet. There are business opportunities that you can take advantage of everywhere if you look for them.

7 Key Steps in Transitioning to Business Ownership

The key question is why some businesses fail and others succeed. This is a debatable question and there are many opinions on this subject. However, I believe the core of the problem lies in the inability to develop good business habits from the onset of the transition into business ownership.

Too many people jump into business without fully understanding the level of involvement required to run a successful business. A common mistake, often made, is miscalculating the volume of effort needed and the resilience required to manage the ups and downs of business ownership. The bottom line is that those who are not mentally prepared for the journey of transition will have difficulties with business management and growth.

Here are 7 important steps to consider in transitioning to business ownership:

  1. Develop a business plan from the inception of the business all the way to the exit strategy. The best way to begin the process is to start with a vision which is often the big picture outlook. You can go about this by writing down everything you want to achieve. Consider this exercise the playground of ideas and exploration; a place where you have emptied all your toys to get a clear picture of what’s available in order to contemplate your next move.
  2. Take an inventory of your skills and abilities. Understand your strengths and weaknesses. This exercise will be helpful in the future as you come face-to-face with the daily management of the business. Don’t try to do it all. Don’t haggle with those things you are not strong in. Seek out the experts; it is well worth the investment.
  3. Know your industry thoroughly. Stay informed and be aware of the trends and how they can affect or impact your business. All the while, be ready to make necessary adjustments to your business strategies, such as implementing new approaches to old challenges based on what’s taking place in your industry.
  4. Set powerful goals and work towards achieving them because they are the lifeline of your business. Follow the SMART acronym for setting goals. Be sure they are Specific, Measurable, Attainable, Realistic and Timely. Select goals that reflect the different aspects of your life, such as spiritual, business, family, etc. Les Brown says: “Life takes on meaning when you become motivated, set goals and charge after them in an unstoppable manner”. Without goals we function aimlessly and have purposeless lives. Goals give direction to fulfilling one’s purpose.
  5. Integrate your marketing strategy into your business. Remember that the business plan is the guiding tool and is not an ornament for display. Follow the strategy and adjust as needed. Though the foundation will stand, but the implementation may vary. Get to know the pain points of your target market. Understanding their needs and challenges is critical in developing appropriate solutions to solve your clients’ problems.
  6. Build up a network of support. In addition to our own self motivation, much is said about external motivation and inspiration when interacting with other like-minded individuals. Take time to be inspired by the success of others and learn from their mistakes.
  7. Apply technology to streamline the business. Make deliberated efforts to keep up with technology as it relates to your business and apply it to improve business efficiencies and enhance management. Understand how technology can be useful and appropriate in your business.

There is no doubt business ownership helps to realize dreams. It also requires consistent, intentional, and deliberate actions to deal with industry changes and other economic factors that can adversely affect the business. At times we need additional direction and support to transcend to the next level. Don’t overlook the high returns you will achieve when you make the right investment. They can make the difference in running a successful business.

Exploring Business Ownership – Traditional Employment is Not Risk-Free (Part 4 of 7)

In previous articles we’ve talked about the personality types that have the best chance of business ownership success and helped you define your goals for wanting to be in business. Now we’ll explore how entrepreneurs, franchise owners, and employees generally think. Where will you find a match?

How You Think Vs Your Risk Tolerance

As I’ve shared previously, business success is far from guaranteed so it’s important that you assess your tolerance for risk before committing funds to any business venture. One very general way to assess your risk tolerance is by analyzing the way you think.

Generally speaking, there are three main ways to earn income in increasing order of personal risk; employment, franchise ownership, and entrepreneur business ownership. We’ll explore each to see which you identify best with.

The World of Employment

Employee think is:

I did what I was supposed (or told) to do and I can prove it.

If you’re most comfortable with a narrowly defined set of responsibilities, expect your desk (or tools or equipment) to be provided for you, want to call the IT department when your computer hangs up, crave regular working hours with paid vacation and holidays, and expect benefits paid by someone else, then you’ll probably be most comfortable in an employment situation.

When employment is a good fit you feel most comfortable when you do your part as a team member and leave the business consequences of your work assignment to others. If this describes you, take heart! There’s absolutely no shame in being an employee! In fact, most of the business world is made up of employees who willingly do their part and receive a fixed hourly or salary income in return.

Traditionally employment has also had the least amount of risk for loss of income, although that’s becoming less true. For several decades following World War II there was an unwritten social contract between large corporations (and even many smaller businesses) and their employees that went something like this:

If you come to work with us and work hard, then you are welcome to stay with our company as long as you like. We will retrain our loyal employees to take on new tasks and responsibilities because they are our most valuable asset. We will take care of you with good benefits and if you stay with us long enough we will also provide for your retirement.

Contrast that historic practice with the current social norm of viewing employees as a commodity to be hired when needed and laid off when not.

Risk Assessment

Employment and depending on others for income who may not have your best personal or career interests at heart carries the least risk of the three income earning options. But it’s not risk-free and is far more risky now than it used to be. Let me suggest the book The Disposable American: Layoffs and Their Consequences, by Louis Uchitelle, for further reading (I have no financial interest in this book).

Didn’t identify with “employee think?” Check out part 5 where we’ll explore how franchise owners think.

The Chronicles of Narnia: Discover People Can Be a Distracting Nuisance To Business Ownership

In watching The Chronicles of Narnia: The Voyage of the Dawn Treader, I quickly discovered that Eustace was a uncooperative nuisance and a continual party-crasher. A real bummer! Same for business ownership. There will be people who are a huge nuisance and you don’t want to be around them because they become a huge distraction, bring you down, and is bad for business.

For most business owners, they can’t stand to be around nuisance. Nuisance people tend to be negative, demeaning, lazy, and it’s unattractive…INSIDE. Now, I’m not saying you have to hang around negative people or even like them. On the contrary, you need to develop Positive Relationships and cultivating these type of friendships takes hard work and trust.

People Can Change If They Choose To

What I am saying though is that, given the right situation, knowledge, environment, and opportunity, nuisance-prone people can learn to change if they choose to. That’s just it…they have to WANT to make their lives better. We can’t accomplish this task for them.

People who decide to take the necessary steps for personal development and growth, realize that they genuinely can live positive, productive, and “attractive” lives. Have you ever been around a person, especially for me, it’s usually a female, who has a very profane and vulgar mouth? One who seems to use expletives every single word?

NOT VERY pretty, is it?

Caring and Encouraging Positive Action

Like Eustace in The Chronicles of Narnia: The Voyage of the Dawn Treader, some people just need some encouragement to become better human beings. Some need the knowledge to know better. I’m partial to this, however, because I believe there’s some “common sense” when it comes to behavior modification and breaking “bad habits”.

People, annoying, nuisance-prone people, need to know that someone cares about them, believes in them, and is willing to invest their time to help the “subject” discover that they can become more than what they currently are. In the scope of business ownership, this awareness is vital for any business to grow substantially with any value.

Usually speaking, Positive Changes in a person’s life takes Positive Action and doesn’t happen overnight. Especially, since bad habits have taken, sometimes, years to develop. It shouldn’t be expected to get a person who’s a nuisance to you and your business to change right away.

Nonetheless, with effort, determination, perseverance, knowledge, and taking action, positive and valuable results can exist!

It may take some time. Yet, it CAN happen.

Meeting Nuisance Head-On

So, what can one do? Well, I believe that we need to encourage those willing to change and leave behind anyone willing to remain belligerent, a nuisance, apathetic, lazy, who desires just to live a mediocre life. Not much you can do for them anyhow!

In the space of business ownership and entrepreneurship, meeting nuisance head-on can be a creative way to cultivate your patience. Invite these types of challenges, annoying customers, and see it as an opportunity to develop your personal growth.

How can you help? Below are 3 ways to help an annoying, nuisance-prone person break the “annoying,” sometimes destructive habits.

1. Help Them Identify When the Habit Appears Most Prominently

Conscience awareness is vital to identify when a bad habit appears. Often, habits appear just like clock-work, without much thought. It’s on the sub-conscience level that a solution becomes more challenging. There’s hope, though. I say that the bigger the challenge or obstacle, the more glory there is in overcoming it.

2. Help Them Define How Much Control They Have Over the Habit

Everyone wants control! Mostly, people with nuisance and bad habits just don’t know HOW to control themselves. No self-discipline. It becomes essential, especially in a business ownership situation, to gain control when circumstances get out of control. Someone who truly leads will be able to discern when they need to “jump in” and take control of an annoying customer or employee.

3. Help Them To Break the Habit By Replacing It With a Less-Annoying Habit

This is easier said than done, I know. Nonetheless, it’s better to replace a bad, sometimes destructive habit, with a lesser one because this allows them “space” to work through their behavior modification processes more effectively.

In my opinion, I’d rather see a person bite their nails than have them constantly interjecting their words by disrupting the conversation when I’m speaking.

Everyone reading this probably has been guilty of interrupting someone when they’re talking.

Most importantly, be patient and do your best to show grace and compassion when dealing with a nuisance. Show kindness, gentleness, self-control, and humility. Often times, if none of this works to help them, you just have to ignore the person and move on with your business and life!

Secret Discovered

Whether in a business ownership or merely in life, you’ll soon discover that people can, and will, be a distracting nuisance. They WILL exist. It’s a part of life. Fortunately, people can change if they choose to. As Servants and those who Lead, we are entrusted to lead by example and illustrate what it means to be overcome bad habits and to live positive, productive, and attractive lives.

In The Chronicles of Narnia: The Voyage of the Dawn Treader, you’ll notice that Eustace realized his annoying behavior and how he had become a “royal” nuisance to everyone. It took great deal of encouragement, grace, and patience to have Eustace turn around from his actions. Eustace made such a turn around, that his actions influenced C. L. Lewis’ next 2 The Chronicles of Narnia books.

Do you suppose you could help someone overcome their bad habits? If so, how do you suppose helping someone if you’ve got to conquered your own bad habits? Once you do become victorious, how will this “defeat” cultivate you into a better, more courageous person?