Think about that for a moment, especially if you are a diehard nine-to-fiver who can't imagine yourself leaving the comfort of a regular job to try something different. The workplace of the future is either going to be an exciting or dreadful place, and it's up to you which side of the coin you fall on.
You see, what the Labor Department doesn't say, but I believe to be true, is that those who find themselves earning a living in non-traditional careers will do so for one of two reasons: they either freely chose to throw off the shackles of the traditional nine-to-five or they were forced to do so because they were casualties of the future's changing work models.
Layoffs, downsizing, outsourcing, work force reduction, and position elimination: all very nice politically-correct terms that mean one thing: you had better be open to changing the way you think about work because, my brothers and sisters, the times they are a? changing.
The point of our discussion last time focused on those of you who may one day choose the entrepreneurial path. There is a process for going from worker bee to entrepreneur wannabe and it begins with a healthy dose of self-assessment (look inward to determine if you have what it takes to be an entrepreneur) followed by the determination of what kind of business best suits your situation and personality, how you will fund the business, and the writing of a solid business plan.
Now let's talk about the nuts and bolts of the process: finding a location, lining up vendors, hiring and managing employees, dealing with customers, creating a marketing strategy ... hmm, this could turn into a very long column. Let me see if I can abbreviate the process in four paragraphs or less.
If your business will be a brick and mortar, nothing is as important as location. What might be a great location for a shoe store might be a horrible location for a donut shop. What may appear to be a busy location in the morning might be a ghost town in the afternoon. You should rely on experts for this important piece of the process. Work with a commercial realtor or business broker to find a location that meets your specific needs.
Next, if yours will be a product-driven business, your success could hinge on the quality, price, and availability of the products you sell. You must establish strong relationships with reliable vendors who can provide an ample supply of the products your customers demand. Always be cultivating relationships with new vendors. Never rely on a single source for products because sources have a tendency to dry up over time.
Next comes the hiring and managing of employees. Like your location and product, employees can make or break your business. Knowledgeable employees who know the value of - and deliver - exceptional customer service are like nuggets of gold. Unfortunately, they are also as hard to find. Don't hire your wife's brother or your best friend's son. It's easier to find a new best friend than a new customer. Hire based on experience and expertise and train every employee well. Set expectations high and most important of all, lead by example, not by the book.
Finally, the big question: if you build it will they come? Afraid not, my new entrepreneur friend. You must have a killer marketing plan that will bring the world - or at least your piece of the world - to your door.
You can have the best product in the world, but if you don't tell anyone about it, you won't sell a thing. Creating a killer marketing plan really isn't that hard. Just ask yourself questions like: who is my target customer and what is the best way to reach them? What can I do to stand out from the crowd? What can I do differently? How can I get noticed? And how can I do that without spending an arm and leg on advertising? Two great books on this topic are Purple Cow by Seth Godin and There's A Customer Born Every Minute: P.T. Barnum's Secrets To Business Success by Joe Vitale.
Of course there's far more to going from employee to entrepreneur than I can cover here in just a couple of columns, which is why I wrote a book on the topic called Everything I Know About Business I Learned From My Mama.
Shameless self-promotion aside, I hope this will help you decide if future entrepreneurship is for you. No matter what path you choose remember this: the workplace is changing. You must be prepared and willing to change with it or you'll end up a statistic on another government list, this one stamped: Unemployed.
What Is Business Ownership
Many people are very attracted by the prospect of starting a small business that will help them have a better life. Unfortunately, not all of them have the skills and the mind-set needed to achieve their goals. There are some important things to carefully consider before you embark on starting your own business.
First of all, what will be the goal of your business? A standard definition would say that a company is an organization made up by one or more persons which strives to obtain profit by economic means in general. A business can be considered a small business if it meets certain requirements which refer to: hired personnel, the income, and how certain aspects of the business are represented.
The role played by small businesses world wide is enormous. Generally, the smaller a business is, the smaller its' potential market is. Still, small businesses form the great majority of all businesses, being the "locomotive of competition."
Usually, the competition between small businesses has at its center the services or products they deliver to their customers and the quality of those products and services. Prices are only third in placement on a hierarchy of the importance of the competition factors.
There are also some hurdles that small businesses have to overcome on their way to becoming an economic success. The most important one seems to be the lack of a well-trained, skilled work force. Secondly, accessing the funds necessary to start up and operate a small business can be difficult. Third, many small businesses operate on a poor if not substandard infrastructure.
One of the most important categories for small business development and growth in the past few years has been the high tech industry. These companies usually create and implement technical innovations and contribute to raising the life standard. They also have great potential in creating work places and raising the incomes of from several to many employees.
Also, with the internet revolution, the number of small businesses accessing the World Wide Web has grown very fast over the last decade. Other means of communications are: cell phones, e-mails, computer networks, etc. All have had an impact on the develoment of small businesses.
The internet provides small businesses with an easy way to communicate. This is a mandatory action for a small business nowadays, and various ways of reaching both clients and employees can be used, such as w-mail and FTP.
Just a cursory consideration of these aspects of starting and operating a small business reveal how complex a process it truly is. It takes more than a dream, it takes action, commitment, determination and creativity to make the dream come true. If you are not a person who enjoys tackling challenges, then starting your own company is simply not for you.
But if you possess these characteristics and feel driven to succeed, you can learn how to run a company even with no formal management training. All you need is dedication, determination and research. You need to design a good business and marketing plan and put your ideas into action. Then you will begin building the foundation of your successful small business.
Both Tim-knox & Ben Franklin are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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