Are you on the right roller coaster? It doesn’t matter what kind of business idea that you come up with or that you become a part of, you need to make sure that you choose the right ride for you. You are in for some work, ‘painful effort,’ as King Solomon puts it, and you need to know beyond the shadow of a doubt that it’s worth it.

Whether your grassroots project is artistic in nature, service based and/or profit-driven, here are seven questions that will help you focus your heart and your resources (the same seven questions that ! asked myself as I was trying to discover the right entrepreneurial work for me):

The First Question is an issue of Creativity: Do you have an idea? If the answer is yes, then move on to the next question, so that you can test it to see if this idea is right for you. Why am I saying this? Because I have a plethora of new ideas daily, but only certain ones are perfect for me at this time in my life. Some, I will implement later (I write those down and save them), others would be perfect for somebody else’s dream, not mine (I save those too). Make sure that you know the difference between what really drives you and what doesn’t. Let’s go on to the next question . . .

The Second Question is an issue of Passion. Are you driven by this idea? If the answer is ‘No,’ then you need to go back to the first question and find an idea (or let it find you) that drives you and captures your full attention. Look at your talents and your favorite things to do. If you can merge the two, then you may be on to something. But it needs to be a problem that you can solve for people. A good gauge is this, solving this problem simply makes you happy in a deep place. Seeing it unsolved probably angers you when the average person only feels indifference about it. Businesses at their core solve problems: I need a new car, I go to the car lot. I need a tune up, I go to the service place. I need a good car cleaning, I go to Champs Car Cleaning Service. You see what I mean? Businesses solve problems. I need some fun, I go to the concert of a favorite artist and dinner with some friends or a poetry spot. Businesses can solve all kinds of problems, you just need to find the one that you want to and that you know how to solve–or at least be willing to learn how to solve it better than anyone else.

The Third Question is an issue of Focus. Are you willing to shift all available time and resources to making this idea a reality? I don’t mean to quit eating or to forget to feed the children or you barely have time to kiss your wife or you can’t even give your friends a decent greeting. But I do mean this, what are willing to give up? I gave up the Television. I watch my favorite shows a couple of evenings a week for an hour each. I figure they’re already living their dreams, I need to put some time into making sure that I live mine too. Besides the television, there is something else that you can give up which takes us to the fourth question . . .

The Fourth Question is an issue of Time. What days and time can you consistently devote to your idea? And before you remind me of how busy you are (and I do understand that), hear me out. Will you discipline yourself to efficiently give up your time? Even if you don’t have a lot of it to give, consistency will pay off. If all you can find is two hours on Saturday morning to work on your business, then disappear into the library or the coffee shop to do just that. And then do what you said you where going to do, “Work on your business for two solid FOCUSED hours (no interruptions, no exceptions).” A hint: choose the same times each week, then it will become such a habit that you will feel out of place if you are not “working on your business between the hours of 11:00 am and 1:00 pm on Saturdays.” Now that we have the time issue on the table, we might as well get to the question that has a tendency to scare us the most . . .

The Fifth Question is an issue of Cash-Flow (that’s right, money). What is the financial cost to turn your idea into a reality? Notice that I didn’t ask you, could you afford to whatever your dream is ? That’s not the issue. You need to know real cost, and not guestimations. Speculating will make a coward overestimate and run or an over zealot underestimate and dive into quick-sand without a life line. Count the cost and be fearless while you do it. It cost you nothing to ask questions and to create a budget, and you will gain insight, skill and focus while you do it. Knowing real cost helps you to develop a real plan and to focus your faith. Which brings us to the next question . . .

The Sixth Question is an issue of Tools, Materials & Equipment. What equipment do you need in order to create the idea? This answer needs to have two parts, your high-end version of the materials you may need and their prices, then you need a scaled down, more budget conscious version. Why both? Study the best first, understand its cost, so that when it’s time to purchase you will know a bargain when you see it and you will know and be able to quickly identify quality in the less expensive versions when you see it as well. Get over your fears, start the research, set the budget. Besides don’t count yourself out, with a little negotiating and a-lot of favor, you just may get your first choice. So get ready to win. But before you take off, there is one more question . . .

The Seventh Question is an issue of TEAM. Is there a way for people to help you? Will you let them? In a world of do-it-yourselfers, we are slow to ask for help. But long term success and freedom requires team work. You will have to become crystal clear about your goals and get organized, but that will just make you and your business better. For ideas about who you may need on your team, check out an earlier post, Five People You Need On Your TEAM: Don’t Be An IDAIT, You NEED Help!

For those of you who are looking to build a true business that runs even when you are on vacation, in the beginning you still need to be there in order to nurse the first steps of your company and establish the system that will allow it to run without you.

We’ll, talk about systems in another post. But keep in mind that even if you are not trying to replace yourself, systems will allow you to focus on the part of the business that you excel at. Then the team that you build, and the system that drives them, will do the rest. A great book that addresses this subject is E-Myth Revisited, Why Most Small Business Don’t Work & What to Do About It by Michael E. Gerber.

I hope these seven questions help you, the way they help to stay focus me. In a nutshell, do the work to live the dream that you truly want to live. Don’t settle.

-Ms. J-

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I grew up thinking that I could do it all.  And I realized that I could not be my own lawyer, my own doctor, my own “whatever,” then I went into a panic because I was afraid that I could not trust people to keep their word.  In reality we need a team.  We can put systems in place to protect our interest but we need a team.

I learned this the hard way: The “I Do It Alone” TEAM, IDIAT for short, consists of only one member, YOU. While I can imagine how great you must be–I used to be that great myself–consider getting HELP!  Our long term success is connected to how well we can build and maintain the right team, because we cannot do it all by ourselves.  In the long run, we simply need help from all kinds of people.   Leadership at its core tests our ability to pull the best out of people. Below is a list of at least 5 kinds of people that you’ll probably need on your team.

1. INVESTORS. This is a team of financially sound people, companies or foundations who can provide you with capital as you build your business as a writer. Investors could be people who put money into your dream and expect to be repaid upon success or they could be grants that you have applied for and that believe in your project who never expect repayment (available primarily to non-profits). Ultimately, the people who help you pursue your dream are investing in you.  Invest in them by protecting the relationship.
2. TEACHERS & COACHES. Education is a constant. Your teachers may be from a local class taught by the Small Business Development Center (SBDC) or the author of a book (E-Myth Revisited is a great read for entrepreneurs) or an online course (the Small Business Administration (SBA) has more to offer than Cereal Boxes at the Grocery Store, take your pick. Most of it is FREE). How ever you choose to do it, Be Quick to Learn, because ignorance will make a fool out of you.
3. EMPLOYEES. This is possibly the most important team that you will build. They are a direct reflection of your company. They are the face that the community will see. It is your job to shape the team that represents you. Choose wisely and learn to lead well. Remember, you have teachers and coaches on your team, seek out the ones with the type of leadership skills that you need and learn. At this point you may not have any employees. And if you are the typical entrepreneur, you have mentally resigned yourself to do all the work forever until your kids grow up and take over a business that they have never showed any interest in. However, if you picked up E-Myth Revisited (and I know that I just mentioned it) and read it or listen to it (audio books are wonderful), then you are well on your way to building something that will last, whether your children come aboard or not. Besides, they may fall in love what you’ve created, if it leaves them with the freedom to live a balanced life, their dreams and yours.
4. ADVISORS. You wage your war with a multitude of counselors. This is a team of specialist assembled by you who will help you move the company forward. These are people that you trust in their area of expertise. You will seek advice and knowledge from them; then armed with information; you’ll be qualified to make a more intelligent decision as you build your business. Advisers cost, usually with hourly rates, find out what they are before you need them. There is, however, more than one way to peal and apple. Consider forming an Advisory Board of highly skilled people who you respect. People that don’t mind if you pick their brain in their area of focus. SCORE is also option. It is a great place to find retired experts, and if they are members of SCORE, they are prepared to advise or mentor at no cost to you. Speaking of mentors . . .
5. MENTORS. This is the person(s) who has been where you want to go. You may have multiple mentors for different areas of your life or just one for a season who will take the time to pour into you, but you have to learn how to be mentored in order to maintain this relationship and reap the benefit. Mentors owe you nothing. It is your job to recognize what is inside of them and respond to it by making yourself available to learn from them. If they are teaching, be there. If they need help (odd jobs) in an area that you are good it, then offer your services for free (you want more than just a check from them, you want access, you want to learn).

Choose your members for ability and character. Identify and learn their weaknesses, so that you consciously inherit the best in them and leave the worst on the table. And be advised, it takes different skills to build a relationship with each member on the list. A great source for studying this as well as other powerful information needed for business success is the Think It, Learn It, Do It program by Robert Kiyosaki.

-Ms. J-

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