If You’re Thinking of Starting a Small Business

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If you’re thinking of starting a small business, you’re in good company. These days, many people are considering starting a business of their own to increase their income and secure a future of less worry and stress, even if they’ve never done so before. And it’s easier today than ever before to earn a living being self-employed.

These Tips to Start should help you get going in the right direction.

1. Your Interests

For the best success, The Art of the Start takes planning and a clear assessment of yourself before you begin, starting with your interests and knowledge.  Most boomers will have acquired a vast wealth of skills and talents.  Now is the time to assess where your interests, knowledge and experience intersect.

The very first thing you need to look at are your own needs. Please don’t confuse these with what you think you need, which are more than likely your wants. Your needs are often the responsibilities you have to bear no matter what is happening in your life.

2. Your Health

It might seem obvious, but people often overlook how their daily habits and choices affect their health, and it’s the absolute most important aspect in your life. Without good health everything else in life fades in importance. You must take a good inventory of your health needs. Do you have a health condition?  Do you smoke? Do you exercise regularly and limit your alcohol intake? And how about your emotional health?  Don’t forget to consider this, which includes the degree of balance in your life, how you handle stress, your outlook and attitudes.

Business is a lot about Mindset, so you must maintain good physical and emotional health and health habits to be able to better focus your attention on a fledgling business. Setting reasonable goals to maintain good health can mean the difference between an ongoing, sustainable business or one that folds up if you are not well.

3. Your Finances

Owning your own business is a good option for supplementing your income and building your investments, but first you will need to consider the amount of money required to start a business and bring your product or service to market. To accurately determine your financial needs, and what you may have available to invest in your business, you should record all your monthly expenses and income. This exercise will give you insight on your current financial outlook, and how much discretionary income you may have to invest in yourself via your business. In gaining a better picture of your financial status right now, you will be able to tailor your expectations and goals for your business.

4. Your Family

Family relationships have the power to enhance your future incredibly by bringing great positivity to your life and giving you the strength to overcome challenging situations. Conversely, strained relationships can be the cause of great angst or stress and can hold you back from achieving your goals and living a happy life.

Many emotions are tied up in relationships with family – loving, kind and generous feelings, or envious, resentful and negative feelings. Whether positive or negative, your relationships with your family can have a major impact on your success in business. It is important that you recognize this fact before you begin your new venture.

Positive relationships with family and friends can help build your confidence quickly, since they often recognize your talents and gifts better than you do yourself. You will want positive people who support and encourage your efforts, to surround you while you take your first steps toward your goals.

Family responsibilities do not vanish while you are busy building your business. Daily routines, duties and chores continue in spite of your new goals. These responsibilities will need to be taken into account when setting your criteria for your new business.

Assessing your needs before establishing your business will help to clarify your goals and the type of business you might choose.

Connie Quinn-Vaillant, M.Ed, founder, Boomer Business Direction

Connie Quinn-Vaillant, M.Ed., specializes in coaching new and aspiring entrepreneurs to leverage their wisdom and expertise to create lucrative, money-making products and services that provide sustainable streams of income. By assessing personal profiles and needs, appropriate criteria can be set for choosing an ideal business, resulting in highly profitable outcomes. Connie has experience running several businesses of her own and understands the challenges facing new business owners. Get a FREE “QuickStart to Business Guide “ on her website.

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