By Dr. Pat Laino
Going into your own business will change your thinking and your life forever!
Whether you plan on opening a gift shop, pizzeria, cleaning service or a high tech shop you need to take specific actions before you begin to sell your products or services. This Nation was built by people, just like you and me, who believe that the “American Dream” can be achieved by becoming self-employed.
While many major companies throughout America are closing their doors, downsizing or becoming obsolete, thousands of new businesses are emerging to take their places. Research projects that by 2020; approximately 85% of all workers will be employed by small businesses owners.
After training and coaching thousands of aspiring entrepreneurs for over two decades, I have discovered that successful entrepreneurs are not ordinary people, but extraordinary individuals who recognize business opportunities that others may not perceive.
If you want to start-up a business, the first step is to sit down alone in a quiet place and create a Vision. Imagine what achieving the “American Dream” really means to you. You should craft your Vision like Ray Kroc who is the McDonalds’ emblem and icon of success. With very little money, he knew that to achieve his Vision he had to stay extremely focused. Ray never dreamed that he would fail. Today, there are thousands of McDonald franchise owners worldwide and most of them are successfully achieving their own “American Dream”. Now ask yourself why 88% of all small businesses fail when 35,000 McDonalds are successful today? Why can’t your business be a winner too?
The first step in creating your Vision is to image your business operation after five years of operations. Forget the negative, dream the positive and you will be on the right path to achieving the “American Dream”. As a budding entrepreneur, you need the Vision to begin your travels through the world of starting and operating a money-making business.
You should start working toward your Vision by creating an individualized Business Plan (Plan). The real benefits of your Plan are that it is the path that you will follow to making money because it guides you through the turbulent economic seas and into a harbor of choice. The Plan becomes your written and well-defined profile of your business operation.
It provides you with an official document to present to anyone who may need to know about your business venture. When others read your Plan, it gives them a distinct profile of your projected business and lends credibility about whether or not your venture will be successful.
The Plan is your written communication tool that you must have if you’re going to a financial institution for start-up funds. All loan officers expect to see a fully developed plan of action. You can also use your Plan to orient employees, sales personnel, suppliers and others about your operations. This Plan reflects you as a strong and focused business leader, with the skills to effectively manage your business venture. It gives you the practice and skills to think about competitive business conditions, trade opportunities, potential threats to your specific operations, awareness of your ongoing cash flow and the operational advantages that can make you a “Giant” in the business world.
“Logic will get you from A to B. Imagination will take you everywhere” (Albert Einstein, 1879-1955).
I say to all aspiring entrepreneurs, “Snap Out Of It!” Remember when you were a young child and your parents said that you could do anything. They said that you could talk, walk, and ride a bike and so on. If you forgot about this, then do you remember the little engine that could (and did)? To succeed in the future, you must revert back to the times when anything was possible and everything is possible. This is the way to start creating your own successful business venture.
Many like yourself may feel lost in the wilderness and maze of going into business, not realizing that advice and support are available to you. You need to know what help is readily available for aspiring entrepreneurs and where to find it. There are Entrepreneur Centers, Women’s Business Centers, workshops and seminars that can get you started. You can also find more of Dr. Pat’s inside secrets by going to drpatlaino.com or by purchasing her book entitled “Unlock The American Dream” from Amazon or Barnes & Noble.