Friday, January 25, 2008

Business Thoughts from someone with no Business Background

For the new year I am rededicating myself to my side business with Ignite. This means at least 2-5 hrs/week and not the usual 2-5/month.

In doing so I have been reading a lot of different material. One I thought was interesting was.

"Consider this VERY carefully: For most people, their yearly income is the average of their 5 closest friends."

"Do YOUR 5 closest friends have what you want? If not, why would you EVER listen to their opinions on business."

When I read this, I just think if the person lives and breathes IT and has succeeded in IT then their opinion is valid. Why should I listen to someone who has never owned a business to help me direct my business? Business owners gotta start somewhere and this is where I am getting my feet wet.

4 months as a business owner and I've learned a ton but I'm hungry for more.
1)get a thick skin
2)get a thicker skin
3)you don't have to lie to succeed. use the WWJD (what would jesus do)
4)come out of your shell and speak about what you love and are passionate about. If you truly believe in your company and it's product then you shouldn't be ashamed to speak of it.

I've gotten the hang of 1, 3. I'm working on 2 and 4 right now as I still get very down when I get shot down and I'm still a bit of a turtle when it comes to introducing my business to others. But long term goals takes immediate action in the present. I don't pretend to not be scared but there comes a time when someone has to get their hands dirty and "try".

My upline and business continue to ask this question.

Why do you want a business. What will this money provide you?
-Most just want money to buy things. Do i really need things?

My why. I want jess to never go back to work and yet still have enough to retire, pay for 2 college tutions, and still live comfortably (this is subjective).

The short term goals for the business are as follows.

1)have enough residual income to pay for kids activities like mother's day out, ballet, music class. In the near future I want football, judo, and some musical instrament. If i were to stop working my business it has to at a MINIMUM sustain all of these or it is considered a failure. I expect $200-400/month would cover all those easily.
2)Have enough to bump my $40/month allowance to at least $100/month. This is secondary to the bills for the kids stuff as I really don't need much cash to sustain my gaming/movie habit.

More to follow as I read this 90page ebook.


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