© David Newton - Brisbane Jan 2008
www.TodayBiz.net
So You Want To Start A Business And Leave Your Job "Some Day"?
Or - you've begun a business, but for one reason or another wound up back at your job again. Only this time, you're disillusioned, bitten by ridicule from your partner or friends and family.
You know, I was there just like you. Years ago I was a telephone appointment setter, maybe one of the best in the telemarketing industry. But I always wanted to start out on my own and leave the telemarketing behind. Staying there was almost an addiction. I hated the work, but getting the work was so easy for me, I almost never left.
Yet I see my friends just like me start a business, only to fall back to working at their jobs they left. Yes, maybe they have a different employer these days, but essentially they are in the same old job.
How do you break out?
Let’s look at what makes them go back first.
A. They leave their job and wind up sitting around home all day long.
B. They don't have a way to keep their day busy.
C. They have little push in making sales and closing all the deals out there for them.
D. They don't know their real costs in running the business and miss being in control.
E. They fail to do enough “grunt work” to get their business running or outsource everything and thus give over way too much control to others.
Let me go back to the old analogy, for a Jumbo Jet to leave the runway, it must use something like 130% thrust. When it gets to level out at 'cruise level' it can pull back the throttle to about 70% power.
Your business is similar. You need to get off your backside and really want it to happen, make the sales calls and close the deals if you want to truly leave your job.
And you need to stop making petty excuses for lack of results. Know the metrics of your business and make them happen on a consistent basis.
Focus on revenue creation. Plus keep a good eye on your costs.
If working at home isn’t doing you good. Get out and hire an office. Most office space above shops goes for cheap. So you can have a little home from home where you make yourself get going.
Or do what I do, get a laptop computer (or a pocket sized PDA with a foldout keyboard) and work from a café someplace.
Your business must make a profit. It can't be a "hobby business" - meaning it must stack up to read like a real business does. Clue: the average wage is now about $60K if you are making less, then your business maybe classed as a hobby.
Mix with other business owners often.
I see people who lack the business acumen they need due to the fact they keep their own company. This is silly. Mixing with others and networking is the way to build your business knowledge and sales success.
Business clubs such as Terri Copper's business breakfasts (see www.terricooper.com.au ) are good value.
The hardest part for new owners of a small business – especially the "work from home crowd" is getting to see what they do "as a business". Sure it’s very attractive to say you work from home. If you have kids the idea is an idealistic one to think that you won't get distracted by simply being in the home space. No matter how great the business you're in, unless you have "the mettle" inside you to get done your workload, the best business plan you're following won't work because you can't get out of bed in the morning!
That's why a "job" is so appealing. They give up and want to get told what to do each day by a boss how to live their lives because they are too lazy to make a business work. (Sure some people genuinely try hard, I grant that, but forget to leverage their time and results)
True Business Failure Rates
You've heard that over 80% of businesses fail in the first 5 years right? Well it’s not true! But this myth is doing more damage than good for business people as it makes business people "think" they will fail.
Shame on the business consultants who preach such dammed untruths!
The truth about business failure is over stated. Most business is very successful. In fact over 76% of businesses do succeed and only a tiny fraction fails. Most so called failures are merely name changes, or entity re appropriations or closures not related to failing at all. Less than 0.5% goes bankrupt in any one single year ever.
Why I'm saying all this is because many people get temporarily depressed about a short term worry they are experiencing and jump to a conclusion that they are one of the failures. So they scramble their efforts into looking for a job, closing up their shop in a hasty speed, and dutifully go back to the lame job they left.
I once knew a lady who was selling water coolers and she did exactly that. Then after she went back to her job, the phone rang in with over 5 orders for coolers! Sadly she had burned her bridges at the agency where she got them and totally lost all those sales to another person. That is the price of “chucking in the towel” too early.
In Summary
• How much do you want your new business to succeed?
• Are you willing to give an "over and above effort" to get it going?
• Are you will you stop sitting around wasting your time and do some actual "income producing work" for a change?
• Are you going to stop blaming the economy, the suppliers, the whatever you are blaming and find solutions to getting results?
• Can you focus on why you went into business each day and set daily goals to pursue the success you desire?
• Do you want to make the mere thought of being in a job “so abhorrent” to you, such that you'll never go back to it?
Then my fellow small business owner you are on the way to success in business!
David Newton runs several home based business consultancies. He has a FREE online 14 week small business marketing course on his business website: www.TodayBiz.net You can contact him on 0405-779-789.
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