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TPT
Administrator
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Posted: Tue Jul 19th, 2005 01:54 am |
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Starting a business is difficult, but rewarding. In my case, I am lucky to have a wife who is supportive and to be able to run my business as a daytime venture and still keep my benefits and income from my evening job.
Here are my initial goals with comments:
- Stop Commuting - I spend over an hour and a half just driving to and from work
- Be My Own Boss - Yes, I am my own boss and can set my own hours, but I also have hundreds of smaller bosses...my customers!
- Have Fun - I am enjoying my business especially since my focus is based on my hobbies.
- Make Money - Well, my business is profitable. But, I need to improve here.
- Help My Community - By helping other businesses around me, I am indirectly helping my community. I also ride on the town ambulance and serve on a business redevelopment committee.
- Spend More Time With My Family - Not yet. Once I have enough income to leave my night job, this goal will be met.
As you can see, I laid out my goals and I regularly reasses them. This is something that I think many entrepreneurs don't do and lose focus because of it. My most important goal is to spend more time with my family, which also ties into the Stop Commuting goal. This is something that I have not met yet, but I am licky in that my family understands and is very supportive.
I would also like to point out that I have been running my business for two and a half years and I am in a Rural area. I was at a steady, but low volume and just recently saw a new plateau in business volume. I will re-evalute my business at the end of the year and decide what direction I should go in next.
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Fred
Intensify.biz Founder
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edmonds
Member
| Joined: | Sun Nov 27th, 2005 |
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| Posts: | 5 |
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Posted: Mon Nov 28th, 2005 03:42 am |
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Nice Post.
I agree. There are so many pros that come with starting up a business, and the one that is my favourite is You work off of your own schedule. Although you have things to do, you can be like me and procrastinate them.
All the Pros mentioned above are the good side, and there are many more that are relieving that weren't mentioned.
I've started up a business a while ago, and the one con I felt I was hesitant in deciding was the How To Spend The Money. It was quite hard deciding where the money would be utilized best, but I knew I had to spend more to get more. Good thing the bank loan helped me out. Hey, at least my business is kicking again
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marksman
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| Joined: | Mon Nov 28th, 2005 |
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Posted: Mon Nov 28th, 2005 04:14 pm |
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TPT,
I think we have a lot of similar goals. My current business life has allowed me to stop commuting. I like it for several reasons. I am a bit of an emotional and energy pendulum as a person. When the energy seizes me I can work tirelessly for extended periods of time. When my levels are lower, I find myself focused on other areas. In order to maximize my potential, I need to be free to take advantage of the high energy times and get as much out of myself as possible.
Personally, I think my highest energy time of the day is in the morning. Now I can roll out of bed and get right to work. In a traditional business environment, I might have to wake up, get a shower, get breakfast and drive to work. By that point I may have already wasted 2 plus hours of my most productive time of the day.
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TPT
Administrator
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Posted: Mon Nov 28th, 2005 09:47 pm |
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edmonds,
I agree with having problems relating to "How to spend the money". I'm always trying to determine what advertising I should invest in, etc. It's difficult and being a small, one person business, there's no one ot turn to for advice. My wife is supportive, but she doesn't have the business experience to help with these decisions.
Marksman,
Good point! I didn't realize that I set my schedule to match the hours that I was most active, but at least I did it subconsciously!
____________________
Fred
Intensify.biz Founder
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edmonds
Member
| Joined: | Sun Nov 27th, 2005 |
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Posted: Mon Nov 28th, 2005 10:47 pm |
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Yea,
Well this may just be me, but sometimes I phone my friend up, or talk to people over the internet and just ask them my advice. It sounds kind of wierd, but it works. You talk to them, and they give you a completely unbiased answer.
Although it is kind of wierd because they aren't you, and they don't know the general direction you want the company to go. But it still gives me a clue if I am clueless
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m0nk
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| Joined: | Mon Nov 28th, 2005 |
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Posted: Tue Nov 29th, 2005 01:36 am |
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I truly believe starting a business is different for different people -- some people enjoy the challenge, the unlimited income opportunity, the time freedom (if you know how to properly build a business system), and no bosses.
I personally have chosen to get into business for the following:
1. control of my time
2. ability to be home with family/girlfriend
3. unlimited income potential (but mostly for taxes advantages)
4. ability to allow me to be creative and not confined to one thing or under the direction of someone.
.....I think besides everything else you must enjoy the process. That is something I have recently learned. I may not enjoy some aspects of being in business (re: unpredicable income....) but the one thing I do enjoy is the PROCESS of building and creating!
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marksman
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Posted: Tue Nov 29th, 2005 11:13 pm |
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I agree with several of your points M0nk. I am a bit of a control freak. So having control of my situation and environment becomes very important to me at times. The only real way to do that is to run your own business and call your own shots.
I would take less money to not be beholden to someone else.
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Kevin
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Posted: Tue Nov 29th, 2005 11:42 pm |
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Yes I agree having your own bussiness have alot of pros and cons. I am currently starting my own web development bussiness but I am not leaving my current job until it really gets going and making good money.
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mom21
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| Joined: | Wed Jan 11th, 2006 |
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Posted: Fri Jan 27th, 2006 09:26 pm |
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| Yes, of course there are some cons, but I think there are definitely more pros than cons in starting your own business. When the going gets rough, just remind yourself that it will all pay off in the long run.
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