Not a week goes by that I don't get asked "Where do I start" in opening a new business? For the most part business men trying to start something new are short one commodity, money. Their debt is high, responsibilities are endless and there is no way to just walk away from their current J.O.B.
What about starting slow and deliberate testing the market? Spend time discovering your passion, something that gives you a sense of purpose. If it seems effortless and gives you energy, you could be on the right track. If you are laboring over the minutia, diving deep with no return or at the end of the day you are exhausted, run.
When you go into a new venture just for the money, it will not last. When you are excited, motivated and the ideas are flowing, now we're on to something. I told my CPA today that I can't wait to get up in the mornings. I'm so pumped about the possibilities for the day and the endless opportunities that await.
5 tips for discovering your next venture:
1) Pray, study the scriptures and meditate. It's hard to hear in a noisy world. Carve out time to be alone.
2) Ask those trusted advisors (there is wisdom in the council of the multitudes) about your new idea.
3) Do you have to labor for ideas or do they come naturally?
4)Do a basic business plan. Will it make money or is this a glorified hobby?
5) Does this venture allow you to gradually grow to a profitable position and then leave your day job?
Feel free to make a comment or ask a question below and I will reply.
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