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.

Tutors can make money. Serious money.

Tutoring is one of the 51 Alternatives, in the book.  Here are two articles that are over-the-top:

South Korean Tutor Makes $4 Million A Year. Can You?

Meet The Guy Who Makes $1,000 An Hour Tutoring Kids Of Fortune 500 CEOs Over Skype

I know some people just want to make a few hundred bucks a month, just to make ends meet.  That is fine. I’m all about diversifying revenue streams and minimizing risk, a la mutual fund concept.

But you can go bigger, if you want.  These two tutors are making a lot more than the average tutor makes per hour/year.

How big are you dreaming?

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…

 

Following Your Passion: Summer Strings Adventure Camp

Carrie Young is the mastermind behind the Summer Strings Adventure Camp in Layton, Utah (just north of Salt Lake City).  I love how she combines her passions and allows others to benefit. This looks like a wonderful fit for someone interested in music, youth, etc.

She says she wants people to know:

  1. The summer camp is for any child with 1 year experience, up to high school, and
  2. The concert is a free concert open to families with children of all ages to the community that is interactive, full of costumes, well known music, and fun activities for the kids, and
  3. There is a year round program for anyone interested in taking classes, being in a beginning orchestra, or wanting to be in a more advanced tour group not restricted by age and very affordable!

This website tells more about the camp, and has pictures from past years: Summer Strings Adventure Camp

This website shows the program objectives for the Orchestra Adventures: Orchestra Adventures

What are YOU passionate about?  Is it something that other people want (for themselves, or their loved ones)?  Can you appropriately put a value on it, and give the customer a terrific experience?

It looks like Carrie is doing a great job with this!

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 :)

Inspiration from 16 Year Old Jack Andraka: Inventor

Watch this 7 minute video about Jack Andraka and what he is doing.  How crazy-inspiring is this?

The word that sticks out in my mind as I watch this is FOCUS. Perhaps SINGULAR FOCUS.

We look for balance, and recreation, etc.  There are more Jack’s out there who have singular focus who are working to make the world a different and better place, and I’m guessing this kid is going to have a very nice paycheck sometime.  Watch here, and get inspired (not overwhelmed):

Cool Business Idea: Giant Bubbles (Wonki Wands)

I’ve been intrigued by giant bubbles, probably along with the rest of humanity.  Here’s an idea I read about in my local news: Locals make giant bubbles their business.

Grandparents who thought of an idea, designed a solution, set up a website, and are ready to have another revenue stream.

Check out the Wonki Wands website.

These people probably have as many reasons why they shouldn’t do something like this as why they should do something like this.

Let this be an inspiration to you… if they can do this, why not you with your ideas?

From their kickstarter page:

wonki_wands_bubbles

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?