Ground Zero

Sometimes I get this from the people I talk to that are seeking to be business owners.

" I want to start a business, but I don't know what I can do to make money. Can you help me?"

It is not uncommon to gather the idea that you want to be a business owner and just don't know where to start or what kind of business owner you would like to be. But it is one thing, and perhaps the most important thing, you have to do to be a profitable and wealthy business owner. And that is you have to change your thinking process! When thinking about starting a business there is one question that you must ask yourself first.

"What is it that I love to do?"

Without the love you will not do your best, your business will not be unique, and you will grow tired of it very quickly. If you seriously want to start a business then try this excercise and see does it help you find out more about what YOU have to offer society.

1) Write the question above on a sheet of paper, then list all of the things that you love to do. It doesn't matter if it is a hobby, job, skill, or talent. What matters is your love and passion for it.

2) The second thing is to review your list and look for money makers. That does not mean that you will be rich over night, it simply means that those things are known to make money and they just happen to be things that you love to do.

EXAMPLE: Let's say you have a talent such as sewing. You love sewing and it is relaxing and motivates you to do other things. You make everything from clothes to draperies. Obviously there is a lot of money to be made in the sewing business. But because you LOVE sewing you are willing to LEARN more about your craft. You are willing to learn because you are in such of the unachievable; perfection.

This is what being a business owner is all about!! Learning, developing ideas, and implimenting the necessary actions to achieve you goal(s). Once you get to this point you are ready to seek out the double O's, Options and Opportunity.

Opportunities can be found everywhere, but you only need one to make your business successful. My advice to you is to make every opportunity your first. Meaning that if you get the opportunity to do a small project for someone, complete the job with excellence and great customer service, regardless of if it is a friend, relative, or a stranger. Always be punctual and always do what you say you can do. It is important to make note of the things that you cannot do, so that you can research them, and learn how to do them for future use. Don't think that family and friends will not speak badly of you. Sometimes they can be you best or worst critics.

Options are similar to opportunities; you never know they are there unless you look for them. Options are nothing more than questions that you ask yourself to broaden you thinking process. They are important because options are what help your business to survive.

EXAMPLE: Let's say you have been in business for a while. Everything is great. You are making money, and you plan to expand you small business within the next two to five years. This means you must pay attention to your surroundings. Your surroundings would be everything pretaining to your business i.e., stock market, the economy, local demographics, business sales, etc. Right now the stock market is up, sales are great, but the overall state of the economy is rising and falling. A pattern that has been going on for the past few months. This is where your "options" kick in.

1) Can I afford to expand?

2) Can I afford my employees and their benefits if the economy sinks? What can I cut, and what must I keep?

3) To expand I need X amount of dollars, do I have that now? How much do I need to reach my goal?

4) Is my service/product in high demand and needed for society to function?

You should have a long list of questions for yourself and you need to know the answer to each and every one of them. Of course you may not know the answer right off top, but you do have to find them.Questions similar to these kept Ford Motors from looking for a bailout. Not asking these questions made other auto companies either look for a bailout or look forward to backruptcy.

Your business is you baby, take care of it and it will take care of you. My next blog is "Knowing your Enemy."