Thursday, June 11, 2009

Where does my business come from?

That's a very important question for anyone who's looking for work (and considering striking out on their own), as well as for any small business owner / entrepreneur looking to expand.  And lately that's been a lot of people..

Our current economic environment has claimed a ton of jobs.  And because I've built a career out of networking, I've had a lot of people come to me looking for advice, connections, jobs, brainstorming, etc.  Many times people have struggled (are struggling) to find a salaried position paying anywhere near their former salary, and they'll invariably gravitate towards providing a service on their own.

I'm good at building websites; I can do that for other people.

I can fix up properties for banks so the homes are in sale-ready condition.  (hauling trash & debris, painting, etc.)

I've worked so hard on my diet-exercise-nutrition; I can be a personal coach for others.

I'll get my real estate or insurance license.

These are all workable ideas, but they all come back to the same question: "Where will your business come from?"

I have other questions for you, too.

Is this a short-term fix or a new career?  I would approach each differently.

Do you need money now, as in today?  Or do you have a cushion available to use while you build your business up?

How much money do you need to survive?  A little bit on the side to help make ends meet, or a whole bunch because you don't have any coming in?

I haven't found a one-size-fits-all answer, but I seem to always come back to that first question.

The "If's" are easy:  If people will pay me X dollars to do Y service, and if I can get Z clients per day/week/month, this'll be perfect.

Unfortunately, those Z clients will be harder to find than you think.

more on this topic to follow...

Your just thinking out loud Realtor,

Chris Butterworth