Owning Your Own Business Today

March 18, 2012 - PRLog -- Are you ready?

Here are 5 of the top reasons people step out toward owning their own business.

Reasons People Step Out Toward Owning Their Own Business

1.  One of the most popular reasons for owning your own business is people want to find a balance between their work life and personal life.  Too often, people spend so much time in their jobs, their family life suffers.  Owning your own business, maybe even one that allows families to work together on the business venture, can bring families closer together.  That is, provided all share in that passion.  It can also teach children entrepreneurship.  
2.  People want to control their work environment.  They get fed up with having to put up with co-workers who are always negative, slack off in their work responsibilities or don’t even show up to work half the time.  People with zero work ethics.
3.  People want to call the shots.  They know how things will work more harmoniously and owning their own business allows them to make those decisions.  It can be very rewarding.
4.  People can develop a business around their passions and strengths.
5.  People want greater control over their financial future.  Many do not like the insecurity of the economy, manager or company politics that could land them on the street without a job at anytime.  

What Type Of  Business Should You Own?

Whatever the reason, if you are thinking it is time to make that committed step out into entrepreneurship, here are a few things to consider.  Of course, the biggest thing is what?  What type of business should you start?  There are many possible answers for this.  Here are a few questions to get you started.

1.  What is your passion?  What do you really enjoy doing?  Start with that.  Don’t worry about training or education yet.  Just answer the question.  If you are going to truly be committed to making your own business work, then you have to love going to work each day.  The trick is to love it enough that it just doesn’t seem like work.  
2.  Write your passion (s) down, put a circle around it, then brainstorm potential ways to make money from your passion.  Let this flow from you.  Don’t reason things out as you are doing this.  Just let your ideas flow freely.  As you are doing this, draw a line from your circled passion, with a circle on the other end of the line with your idea in it.  This exercise will get the creative part of your brain flowing more freely.  Do this for at least 5 minutes, longer if ideas are still flowing.  
3.  Now, what is the main thing that has brought you satisfaction in your work life.  Maybe it is fulfilling the needs of your client, maybe it is figuring things out with solutions that help things run more efficiently, maybe it is keeping things organized or maybe it is helping others you work with...  Try to come up with at least 5 things that have consistently brought you satisfaction in your work.  Whatever the work was or is doesn’t really matter.  This is about you, not the work.  If you are having trouble with this, you could write down “what brings me satisfaction at __________ (write down where ever you are working now)” and draw a circle around it.  Like the exercise above, let things just flow out from that without trying to think too much.  
4.  It is time to analyze what you have written down in 1-3.  Look first for any obvious connections between what you enjoy doing, possible money making ideas and things that bring satisfaction in your work.  It may jump right out at you or you might have to look deeper.  If you are married or have a close friend, trying doing this exercise together.  And of course, if you are planning to do a business with someone else, this should be done together.  Sometimes, however, it can be helpful if each person does the exercise by themselves, then not telling each other what things you came up with, but coming together and doing the exercise together, then comparing.  This exercise can be powerful in helping you begin the process of owning your own business.  

Watch this demostration video of a brain storming exercise
http://youtu.be/2-i7dxGAFzI



Other Questions To Answer Before Deciding What Business To Own

If you have a general idea about what kind of business you’d like to do, then you can start answering some of the other questions to narrow your focus.
1.  Do you want to work from home or have an outside the home business?  
2.  What skills, knowledge and experience do you have related to your possible choices?  If you are doing this business with your spouse or another business partner, what are their skills, knowledge and experience?  What other things will you have to learn before starting or could you learn some of it as you go?
3.  What are your financial needs and desires with this business?  Do you need a substantial savings to live on before you can venture out?  Is it something you can build while you keep your current job?  Do you need a loan to begin or do you have adequate money saved?  A building to lease?  Permits or licenses?  Are their rules or regulations governing what you want to do?  
4.  By now, you may have a pretty good idea of a business direction.  Starting a business plan on paper can be the next step.  A place where you can start filling in details.  Making sure you know how much things are going to cost, earning projections, making sure you have staying power to ride out the first several months.  Figuring out market strategies to get the word out on your business.  
5.  Work on self development.  Vision your success daily.  Always strive to be better at what you are doing.

Making The Commitment In Owning Your Own Business

Owning your own business can be fun, challenging and rewarding.  Whatever your business is, keep the passion alive.  Keep those reasons why you wanted your own business in front of you, especially the first few months.  Review the above exercises if needed as you go along.  Be flexible, sometimes you might have to tweak some things as you go.  If you make a mistake, that’s okay, it will happen.  Just learn from it and move on, always improving on yourself and the service you are offering in your business.  If all this is a bit overwhelming and you are looking for a simpler business where the success structure has already been laid out, consider an established company that you can align with, but still have your own business.   For more information visit http://besthealthfunwealth.com and get some ideas on how you can get started today toward your own business success.

The point is, if you have been wondering what it would be like owning your own business and know entrepreneurship is within you, then your next step is making that commitment toward owning your own business today.  Good Luck!