Own Your Own Business - 1st Step In Entrepenourship

There are two types of people in this world. Those who want to lead and those who want to be led. If you're reading this, chances are that there is at least one cell in you that says 'forward!'. This article is one of many and it's dedicated to those who are fed up with working for others and want others to work for them.

I think that before we start you'd like to know what my experience is, so you'd know if i'm full of crock or not, right? Well it all started about 4 years ago when i was introduced to the sales and public relation domain. I worked as an insurance salesman and in little over a year i went into management leading a team of over 50 people. It is then that i realized that it's easier to have others work for me instead of me working for others.

History in the making

Don't get me wrong, i enjoy working, and i do my fair share. But it's better to have nobody above you and to have a control over what's happening. After that i kept going up on management ladder only to quit the field abruptly over a lack of confidence in the system. By then i already had a few ideas of what i will be doing after that, and so i started putting them in practice 1 month before i parted with insurances.

My first idea was simple, a few well built and developed portals on various domains. I started with restaurants so in may this year, miefoame, was built and online. Since then the site has been reeling in money even though it wasn't optimised for google and it wasn't even in top search. Soon after that the site grew and went national leading to me eventually moving to capitol city to take over affairs there. This site, will be as good as an example as any of the rest of my ideas, since it's the only one i can divulge.

Motivation

As stated before, this is the first article in the series, and it's dedicated mainly on getting started and building your start-up. So let's begin. First thing you must understand in whatever it is you're doing, is that motivation is key. No matter what the reason you've decided to go solo and become a business owner is, it better be a strong one. Be it greed, hunger for power, spite, a need of fulfillness, a need of sustenance, a need for better life standards, it matters not. You just got to be sure it's strong enough to keep you going through the hard periods awaiting you, and trust me, they will come.

The squeeze is worth the juice

Risk. In any investment, because that's what entrepreneurship is, an investment, you should remember just one word, risk. No matter what you're risking, money, time, equipment, you should always ask yourself if it's worth it and put in balance the chance of failure, coupled to how it can fail, together with the chance of success, how it will succeed and why it will succeed.

Many ideas are good, some can even seem the best in the world, but the reason most of them don't go past the drawing board is because their applicability was either too low or their profit margin was barely covered or if any at all. So never forget to weight it all before making a choice.

Inspiration

When it comes to ideas the first thing you should do is decide if you're going to do it alone or not. If you plan on teaming up with somebody, be it friend, foe or family, you may ask for their help in finding an investment idea together.

Here are a few tips in finding a business idea:

•  look into your domain and experience and the domains you had contact with, same goes with your partner if any
• look at your local market and check out the services available for the people there, both business owner and employee alike, and ask yourself what could you do better and how
• check out the scientific trends, see what's coming new, see what's will be the future and how you can benefit from it, remember that technology is your friend
• look at your available resources: take anything in consideration, from fridge to car, from some extra wood planks to other materials, don't overlook anything! After that see what you can do with them and if it can be a start for an idea
• last but not least there are lots of business ideas over the net, in my second article i will be posting some good business ideas in the resource box

Ethics and Morality

I undisguisedly and unequivocally NEVER, and i cannot overstate this any clearer, ever support frauds and scams. The same thing goes for greed. Those are the things that will tear you to pieces sooner or later, because you cannot escape karma forever. The first thing you have to learn about leading a business project is that you are providing a service to a distinct group of people. Put yourself in their shoes and ask yourself what would you expect from the service you're providing. This is very important since it makes the difference between a brand in the making and another small-time business.

Most people would say that the rules of ethics and morality don't apply to business men and women. I strongly disagree. There is no reason why you can't lead a good and full life and make it so others do the same as well. So whenever you see a client, don't think about the money you can make off of him, think how you can fulfill the client's needs better.

If the client is happy, then you are happy

Greed, the first problem in any business. No matter what you choose, remember that any investment takes time for it to yield profit. Do not rush things, ever. Keep your clients happy and they will give you other clients. In the end run it only means more money for you.

Turncoats, the second problem. Choosing a partner is as important of a choice as what the idea will be. If you want a clean conscience and a good reputation, make sure that you trust your partner and don't back out at the first argument with him or her. It's a business, or better said a relationship, financial, but still a relationship. This means sacrifices on both sides, cooperation and decision making done together. Do NOT forget that.

Patience

This represents the first step into entrepreneurship. I hope you found the information good and you've learned something. In the next article we will be talking about how to put your plan in action and how to make it reality. It will be made available soon enough, so stay tuned for more.