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Choosing the Right Business

Many people venture out from a traditional job to start their own business for several reasons. Freedom and more money can be the biggest motivation.  But how do we guarantee that the business we choose to launch will actually give us freedom and money?  What if we leave that secure job only to find we don’t have much freedom and keep less money? That is one big WHAT IF!

I can attest to leaving a secure job for the chase of my freedom, to make more money.  Fifteen years ago, I left a job because I was craving freedom. It was a toxic work environment and I was making just okay money.   I was also a young wife and mom of three little boys, who was eager to have time for her family. And I wanted to be able to pay my bills and more.

I didn’t need to make millions to be happy back then, I simply needed time with my family and the ability to pay for life and travel baseball.  My drive back then was different then it is today. Now, I am thinking in millions because the little guys who played travel ball grew up and are now going to college! Now, if college doesn’t drive some parents, not sure what will. I prefer my sons not end up in debt after college, therefore, my financial goal today is bigger than yesterdays.

Once, I quit my J.O.B. back in the day, I was so happy to be self-employed, well, until I lost my freedom to running a small business.  And what made it worse is that I also lost money being self-employed.

Today, the business I run is not like the one of 15 years ago, it’s built to give me freedom, both with time and money.  My business partner and I had to be so intentional about the plan that we could only get it right.

I write this blog post for the passionate entrepreneurial spirit in me and you.  If I could go back, I would have a list of advice to give myself. Such as:

Choose wisely.  Don’t just do it for the money.

What are you truly trying to accomplish in the short term and long term? Hold or sell?

Not all businesses render the same return.  Is there a sexy profit margin in your services or product?

Don’t complicate business with too much overhead.

I also would tell myself to really love what I choose and then make sure to build it to accomplish the objective.

Choosing the right business is vital to your success!

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