Many people that I have been running into lately have just up and quit their job. Or perhaps the real reason is that they got fired. Either way, I get the request to help them start up a business when they need money now.
If you need cash like you need air, then it’s probably best you fix that problem first before starting your business. Same goes for those of you who run businesses and decide you want to expand. Make sure that you are not making haste decisions. The last thing you want is to run in the negative or worse be forced to close doors. However, if it does come to that remember that you can always start another company. Just don’t prolong the inevitable.
I was talking to someone today that was telling me about this great business idea. I thought to myself that they had a real good chance. When someone tells me their idea I try my best to see myself as a customer. If someone as skeptical as me will buy it then there is a small possibility this thing has a chance. The next thing I look at is overall market saturation. If it’s a somewhat of a unique idea then not only will someone buy it but there will be tons of people buying it. It’s not a complicated equation. I’m pretty sure most 3rd graders have figured this out. That being said, the next issue was seed capital. This guy wanted to start and empire and take over the world with nothing in hand. Mind you there are ways to start businesses with little or nothing down. But you still need to pay for something in the interim. Along the way there will be expenses. (Hence the need for SEED investments.) When I asked how he was going to pay for the startup costs he said well I’m going to invest in Tax Lien Certificates. Hmmmm, I thought. I’m pretty sure the term invest does not mean nothing down. I hope he gets some seed capital from somewhere. I truly think he has a great idea, Just no money to fund the cause.
Now you see the frustration from most people who are in a job they hate. Somewhere in the middle of the night they get an idea on how to start a business and fall in love with the idea of the business because it means that they can do what they love and not answer to the boss. Sadly most of those businesses fall prey to failure since they are not based on any sort of financial stimulus. If the numbers don’t work then RUN! The last thing you need is another dependent.
The point of today’s blog is that Starting a Business is not for everyone. If you are not willing to trade one set of problems for another then keep your job. By doing this, you are not considered weak or inferior. There are many people who have “JOBS” who are NOT “Just Over Broke”. In fact they make millions of dollars. The real issue is about you. Are you thinking big? Are you out there making stuff happen? Or are you just coasting by hoping and praying for that raise. Well if thats you, tough luck because news flash… YOU ARE NOT ENTITLED TO ANYTHING! Regardless what your financial advisor or friends tell you. The only way for something to happen amazing is if you get off your butt and do it yourself.
My comments may sound a little harsh but this is not a subject you sugar coat. If you are not aware of what your surroundings look like you are in for trouble. There are people out there that want to eat you for lunch, maybe even a snack. If you truly have the desire to do something great then set a goal and do it. No one else will do it for you!
jm
I will take your advice. I am at my day job now.
I think that when you have a day job and you are thinking about starting a new business you have a new ability. Its like people who love music. Then those people learn how to play music. Pretty soon they don’t listen the same way they used to. Instead, they now notice the drums, the guitar, the piano etc.
When you are working for someone and you are thinking about starting a new gig. You look at how they handle marketing, sales, and even visonary thinking. These may not have been things you noticed before but now they become clearly evident as you plan on embarking on your own venture.
This is also the reason why you find a mentor, someone who will push you to do more.