PRE-LAUNCH PERSONAL REALITIES!
by John C. Randall, December 10, 2017
The personal side of starting your own business can really make or break your attempt.
For example, if you have others that depend on your income, you can expect stress from that situation - it is a way of entrepreneurial life.
There are many pre-launch considerations. Many are covered in the multitude of "how to" guides. But some of the really important ones are usually overlooked.
Here are seven personal issues that are best addressed before any others know what you are planning to do:.
1. Get all of your personal credit cards, credit lines, sources of cash and credit lined up before anyone has even the slightest hint of your plans. Once you are on your own, expect credit sources to shun you unless you have solid assets they can attach with your personal guarantee. In the meantime, keep use of this credit at minimal levels.
2. Become the master of positive attitude and refine your ability to communicate it to others. Speaking before small groups is an excellent way to sharpen these skills.
3. Become physically fit and ready in all respects. You will need all the energy you have for the entrepreneurial sprint. Establish a set routine that assures fitness and overall physical health. Make some form of recreation a part of your regular routine. It will allow your mind to work more efficiently.
4. Focus on self-control and self-discipline, including the physical presentation of yourself. Do not forget your manners as well as you body language - your posture, grammar and grooming are important.
5. For a dose of reality, test your wings! Volunteer your time as an adult advisor for organizations that teach business and entrepreneurial skills. Junior Achievement is a good example. They will help you learn to teach, and you will learn a lot by helping others.
6. To sharpen your skills a bit more, volunteer some of your time with two non-profits to help them grow and develop. For example, seek a leadership role in a church or some other organization that depends heavily on volunteers. You will learn a lot about the nature of people, and also broaden your perspective on what is important and what is a distraction. Do not forget what those who seek volunteers usually want from you, known as the 3 W's: wealth, work and wisdom. Save your wealth for now, but donate your work and wisdom. Later, when your income from compound interest on your wealth allows you to use your time as you see fit, then you can decide how to use and distribute it.
7. Before you launch, define what you will do when you no longer want to own or run the business. Family succession, sale to employees, sale to a competitor and liquidation are some options. Can you add to this list? What is your real choice? Failing to make your choice before you launch can be expected to adversely effect some of your key operating decisions.
Here is one more harsh reality: once you launch, the business owns you. If it does not work out, you are the last one out the door. Your employees all have feet - and the sharp ones will walk out if they sense failure.
Does your vision take into consideration that you are already in the business of you? Your outlook depends on you to make it happen. If your enterprise grows, it will eventually depend on others to make it all happen. More about that later in another paper to be added to this Blog.
So, are you really getting prepared, or just dreaming?
WARNING: If most of your work life has been with large corporations, the government or other large organizations, a carefully planned and timed transition is essential, otherwise the odds are really stacked against your success. Take a long moment and think about what you really want, then why, when, where and how will you to do it. Look again at your job -- it might not be so bad after all. Do you still want to scratch your itch for career independence? Save time and stress, just view the FREE Case Study on this web site, take notes, and take the next steps right now.
ABOUT JOHN C. RANDALL
John Randall is a chemical engineer who jumped off the traditional corporate career track when he was 43 and since then he has focused on helping others to achieve a higher level of success. John is a trusted confidential advisor who helps individuals to grab control of their own career, income and time by using his expertise in self-leadership, self-marketing and self-control, based on genuine values and integrity. He has earned the moniker, "The Consultant's Consultant." John's clients are from a wide cross-section of ambitious individuals from throughout the United States of America. His proprietary insights has helped them save time and worry less as they gain their career track independence while also persevering in the spirit of agape love, joy, peace, patience, kindness, goodness, faithfulness, gentleness and most importantly, self-control as they focus on their self-leadership skills while minding the Master (cf. the Gal @ 5:22-23). If you enjoyed this article, don't forget to view the FREE Case Study and reach out for a free strategy session today.
© John C. Randall, 2017. www.MasterMinder.com All rights in all media world-wide reserved.