| Have you ever seen an business opportunity | | | | "designing rocket motors") and anything that you would |
| infomercial? I saw one a while ago that was a classic. | | | | like to learn to do. Obviously, only list those things that is |
| The product was set against a backdrop of cascading | | | | or could be a saleable skill. On the right side put the |
| dollar bills (literally money flowing over the equipment). | | | | types of businesses that use the skills from the left |
| The voice over said something like "want to work less | | | | side of the sheet. The right side of the sheet is your |
| and get rich? - call now!". In essence they were saying | | | | "universe" of potential businesses. |
| that if you bought their machine you could stop | | | | Once you've identified something that you want to do |
| working for a living and easily get rich. | | | | you need to identify whether it is something that you |
| You're likely not surprised to learn that it doesn't work | | | | can reasonably expect to do profitably. The old saw |
| that way. At first, starting your own business involves | | | | "If you fail to plan, you plan to fail" was never more |
| more work not less, money paid out rather than taken | | | | true than when starting a business. Success demands |
| in and a steep learning curve. In return you can look | | | | a clear and articulated vision of the challenges and |
| forward to earning every dime to which you are | | | | opportunities to come. Common sense dictates that |
| entitled, being able to direct your destiny and never | | | | you understand the ingredients for success before you |
| having to worry about "the boss". | | | | commit time and money to your project. Lenders, |
| I have an expression (at least I think that it's mine) that | | | | investors and other stakeholders depend on your |
| goes "Most people want to be successful, few are | | | | ability to chart the course to victory and they'll want to |
| willing to be successful". If you want to work hard and | | | | see your proposed course in writing. Step two: |
| sacrifice to get what you want - if you're willing to be | | | | 2. Create a business plan. A business plan is a written |
| successful - the following will put you on the path to | | | | proposal. It describes your business and it's |
| owning your own business. | | | | environment and forecasts it's future. More importantly, |
| A successful small business is built at the convergence | | | | the process of creating a business plan identifies the |
| of a market need and an ability to meet that need. In | | | | challenges and opportunities to come and details the |
| other words, you need to find something that you do | | | | key result areas for success. It determines how much |
| well (and hopefully enjoy doing) that others are willing | | | | money you'll need and where it will be found. With a |
| to buy. Two simple steps to do that, the first: | | | | business plan you are prepared to win. Without one, |
| 1. Identify a product or service that you can produce. | | | | you are "flying blind". |
| You may have a business in mind. If so, skip this step. If | | | | While there are many ways to create a business plan, |
| not, ask yourself the following questions:a. Do your | | | | we think that the best way is to use our business plan |
| present job skills lend themselves to "side work". If yes, | | | | software, FundablePlans. It walks you through the |
| you can start by developing a business "on the side" | | | | process, does all of the financial calculations, compiles |
| while still collecting a regular paycheck. If not;b. Can | | | | the plan for you, allows you to include graphics and |
| your present line of work (or one that you want to be | | | | includes both online help with your plan as well as help |
| in) be produced by a small business? If not;c. Do you | | | | from our consultants (not customer service reps, |
| have capital to invest? If yes, you can look for a | | | | people who write business plans professionally). It |
| franchise to purchase. Franchisors are in the business | | | | costs $40, more information, here. |
| of starting and guiding small businesses. Entrepreneur | | | | Starting your own business can be exciting, challenging |
| Magazine publishes an annual list of the "Top 500" | | | | and rewarding. Finding the place where market need |
| franchisors, it is available online: 500 Franchisors. | | | | intersects with your abilities is the first step towards |
| If not:d. Take a sheet of paper and draw a line down | | | | success. A business plan is the tool to help you take |
| the center. On the left list anything that you can do (as | | | | that first step. |
| ordinary as "mowing lawns" to as complex as | | | | |