Monday, October 27, 2008

Small Business: Winning in business, your dream depends on it!

Financial Freedom!

T. Harv Eker says it best "First you have to win the money game!"

Most people start their own business to do just that..."win the money game!" Still, it is all to often that these small business owners find themselves working harder and longer than they ever did as an employee. Truth be told they are a far more difficult boss to work for (i.e., working for themselves) than any other boss they've known or work for to date.

5 challenges you might face...

While there are many reasons we can find ourselves as small business owners struggling just to make it let alone enjoying it, let's focus on a couple key points...

1. You have to do it yourself or it won't ever be done correctly!
2. Hardwork equals success!
3. You can't afford to pay someone else!
4. You don't have a target income beyond "your monthly bills!"
5. You don't have a target audience beyond "anyone who will pay!"

You don't have to match-up with all 5 points to find yourself trapped in a business that will never give you the time to enjoy what you have created.

Which one is your biggest challenge?

A great book to read is "The 4-hour work week!" by Timothy Ferriss.

In his book Ferriss repeatedly talks about "challenging your assumptions!" If you are willing to do just that you will find both your business and your life changing in powerful ways.

The first step to any change is to have an awareness of what it is you want to change!

If you are convinced that you are the only one who can do what you do and no one else can do it as well as you...get ready; your life is going to be miserable!

How can you challenge your assumption?

Time for a change!

Pick something small, something you might want to do and may even feel like you have to do it and consider the following...

1. On a scale from 1 to 10 with 10 being "EXTREMELY DIFFICULT" and 1 being "EXTREMELY EASY" rate one of your typical tasks.

If the task you are rating comes in at a 6 or less then make it your goal to find a way to have the task completed without you having to be involved.

2. Once you have found a way to complete the task without your involvement then give yourself 3 to 7 weeks to test it out.

3. At the end of the test period rate the success of your test on a scale of 1 to 10, with 1 being "EXTREME FAILURE" and 10 being an "EXTREME SUCCESS!"

If your test rating was a 6 or less ask yourself "What could I change to improve the results?"

If your test rating was a 7 or higher ask yourself "Do I need to improve the results?" If so, take some time to consider how you might improve it.

4. Repeat the process.

Note: Once you are satisfied with the completion of a given task then move on to the next task. Repeat often and continually.

Financial freedom is an outcome or a result of how effective you are at building a business or being self-employed. One or the other...not both!

Hint: Self-employed rarely means "financial freedom."

You can change that today...

To your success,

James

Friday, October 24, 2008

Small Business: Dream or Nightmare?

All they really did was trade one headache for another!

Have you ever known someone who out of frustration with their job and their income started their own busines or even took the time to plan and to save before they opened their business only to end up struggling with the challenges of being an entrepreneur or small business owner?

The dream of financial freedom!

I created this blog to discuss the issues these small business owners, entrepreneurs and coaches face as they work to build a thriving and financially sustainable business.

Is this you or do you do someone struggling to build their business...if so take the following action steps today.

Action Steps:

1. Subscribe to this blog
2. Visit often
3. Tell your friends
4. Remember to share your comments and to ask question...wink!

To your success,

James (Mr. Possible)