Do you feel ready to make the leap and have your own business?
Today we are featuring some insights from one of our business associates, PJ Ferguson, who helps provide training and support to our network Providers. As a Life & Business Coach at TheSupreme.Me, and successful business owner — including iCrackerjack.com web design/hosting and a revolutionary new garden tool Skidger.com – we asked his advice for someone trying to decide whether or not to start a business.
How do I determine if I am ready to start a business?
- Ask yourself the right questions. Get specific!
- What do I really want out of life?
- Will my plan lead me to my greater vision?
- Read some books about entrepreneurship. PJ recommends two authors in particular –
- Susan Urquhart-Brown (The Accidental Entrepreneur)
- Michael E. Gerber (The E Myth).
- Get the right mindset. What are you waiting for?
- If you are waiting for just the right moment, the right time in your life, or the right “magic” opportunity, you will end up waiting for a long time.
- Change your mindset – start now.
What if I don’t know yet what I really want to do?
- Make a list. Get a piece of paper and divide it into four columns. In the first column, list your passions, talents, abilities, things that make you feel energized, things you love doing. Label the next three columns “Hell Yes!”, “Hell No!”, and “Maybe”. Go down your list and check one of the columns next to each item to determine what you might like to do in your business. Focus on the “Hell Yes!” list. Create a “Hell Yes!” business. Live a “Hell Yes!” life.
- Analyze the items you would be happy doing every day. Ask yourself, “Can I turn this into a business? Is there a market for it?” Determine which options are viable, and can then explore those further.
How important is it to find a “niche” business?
- Not only is it important to find a “niche”, it’s super important to find a Super-Niche! Many new entrepreneurs feel they need to “cast their nets wide” to get more business. You don’t want to fish, you want to hunt! Think of it as target shooting. You want to laser-focus your appeal and marketing to your ideal client. Think of a specific type of person, then step into their shoes and look at the world through their eyes – what do they need, what are they missing? Your super-niche will fill that specific need. In the legal services industry, this could certainly be a peaceful divorce business. (Would you like to work specifically with clients who are interested in divorcing with dignity? Visit our Divorce With Dignity Network website at to learn how.)
OK, I’m ready to move forward. What are my first steps?
- Make it real. Get it out of your head and onto paper. Create a Life Plan first, and then create a Business Plan. Compare the two plans and make sure they fit together.
- Execute your plan. Build your business a step at a time. Discouraging things are bound to happen, but you adapt as you go along.
- Always keep the bigger picture in mind. Your big-picture vision is greater than any obstacles you may encounter on the way. I like to say: “If you’re facing the mountain, take a step. You may find it’s only a molehill.”