How To Prepare To Own Your Own Business

I was doing some research for a webinar that had to do with sticking to a business, being an entrepreneur, etc.  I came across this excellent blog post by Peter Shallard: Why you should quit your business and get a real job.

I thought this was going to be a “wake up to reality!” post, but at the end I was surprised and delighted with the twist.  This is a MUST READ.

Entrepreneurship is freaking awesome! Except, when it isn’t :(

amber_brasstackthinking_headshotI’m not going to write much because I want you to go to Amber’s super awesome must-read blog post titled: When Entrepreneurship Isn’t The Right Fit

Read her post, which I totally agree with, and read the comments, which are brilliant.

The cool thing is that this is not a once-in-a-lifetime decision… you can go back and forth.  What I’m getting out of her post is to do what’s right FOR YOU.

Family Benefits of Owning Your Own Business

I thought this was going to be a lame article with three superfluous things, but they are all right-on. In this article, 3 family benefits to owning your own business, the author says the three things are:

  1. Building family unity.
  2. Sharing life skills and passions.
  3. Leaving a legacy of learning.

I agree with all of these things…. check out the full article here.

In the comments, Saffron shares the other side of staring your own business.  She says that it’s not all roses and peaches… it’s freaking hard.  Yes, it is definitely hard.  The rewards can be awesome, but it’s really, really hard work.  I can attest to that.  Patience and sacrifice is a constant as you build your business.  There are so many things (decisions, trials, setbacks, etc.) that make you want to run and get a normal day job… but you have to remember, what does the day job provide you? Security?  Fair pay? Great benefits? Maybe so, but it’s not always the case….

What a crazy world we live in…

 

James Altucher: 40 Alternatives to College

I love James Altucher’s work. Here is a very interesting slideshow he did titled 40 Alternatives to College.

It’s cool to think about all of these things, but as a dad of a girl who’s not that far away from college I’m not sure I’m behind all of them (at least, not for her). But many of these receive an enthusiastic AMEN! from me :)

Great CEO Quote from Ben Horowitz (H/T David Bradford)

Found this gem in the middle of a blog post from David Bradford, from Ben Horowitz:

“In my experience as CEO, I found that the most important decisions tested my courage far more than my intelligence.”

Sometimes (most of the time?) being that CEO who pulls the trigger on decisions is exercising their courage more than their intelligence.  Not to say you don’t have to be smart, but just being smart isn’t necessarily the key.

“I can’t do it because…” BUSTING self-discrimination myths

I know, I know.  You can’t do an alternative business or revenue stream because _________ (fill in the blank).

There are a gazillion reasons to not do it.

But that lingering question is bugging you: what if?  What if it was possible?  What if you could do it?  What if only you tried?

Case in point: my buddy Brad Barton, fellow professional speaker and author.  Brad is just a few years older than I am… I wouldn’t consider that “old.”  But Brad really is too old to break any records in a sporting event, right?

WRONG.

Brad recently broke… or, as the papers say, SMASHED two records last week.  He bested the records not by olympic margins of .000th of a second… he SMASHED the American and the World record by 14 and 8 seconds.

Brad shouldn’t have been able to do this.  He is a professional speaker, spends plenty of time in hotels, is old, has kids, heck, he could be a grandpa soon.  And here he is, smashing WORLD records.

What’s your excuse again?

WAY TO GO, BRAD BARTON!!

brad_barton_world_record

America’s entrepreneurial spirit going down the toilet?

Why is being an entrepreneur so hard?  Check out this article: America’s entrepreneurial spirit is in jeopardy

Having done what I do for almost eight years, I can attest that it is hard, scary, and prone to financial failure.  I can also say that it can be rewarding, fun, and full of excitement and hope.

The benefits you think you get with a traditional job (security, health insurance, etc.) pull at you… who doesn’t want a steady paycheck and benefits??

Is that the reason why the number of self-employed businesses have decreased by 660,000 from 2008 to 2011 (as per the article)?

Or, like in the comments, is this a great time to do this stuff, especially with tools like kickstarter and the real power of social tools?

Bad news for social marketing service providers

I saw a big shift from SEO experts to “social marketing” experts – that is, the people who help companies make money from Facebook, LinkedIn, Twitter, etc.

Check out this article from Business Insider: Facebook Slightly Tweaked How The Site Works — And It Screwed An Entire Profession.

I saw people who lost business and contracts when Google made certain changes.  Companies who had invested in an SEO strategy found all their time and money went bye-bye… it’s kind of a dangerous game, as you do something and hope Google doesn’t pull the rug out from under you.

That is what is happening at Facebook, according to that article.  I don’t fault Facebook, but there are two lessons here:

1. If the bulk of your money depends on another company (like in this case, or like in using an API for a different company), you put all of your security into the other company;

2. If there is change that means some people are moving out of your industry, I am sure there are more or other opportunities for you (either there, with a changed strategy), or in a new field.