By Hipolito Navarrete, Managing Editor/Publisher
In this time of economic distrust and challenge, many folks are trying to figure out how they can control their income. How is it that some folks get to make unimaginable amounts of wealth from products or services that would seem common sense and simple to execute? The idea that some people just got to the connections necessary to get the support to create start ups is true to an extent, but all the hard work to get the product or concept ready for those connections is never optional. Just creating the network necessary can be daunting.
It is important that you challenge yourself. Once you decide to move forward with your endeavor you must commit, fully commit to the work it takes to succeed. You will end up investing immense amounts of time, time you don’t have, so you must be clear and detailed as to your goals and the skills necessary to accomplish them. Ask yourself; what is it that you have a passion for? Do you want to create a new business around it? How are you going to accomplish that? How much time are you willing to invest in it? Can you create a business around it? Will people pay for the product or the service? What is the financial plan? Anyone who takes an opportunity to create a project that might become a viable business must be clear about what his or her end goal is. Is this to follow a dream? Create a situation in which you are paid for what you love to do? How much of a financial return do you need in order to maintain or elevate your quality of life? Where do you see this taking you in three or five years? Are you planning for that? Are you married? Do you have a family? How many people are you financially responsible for? These questions are not to intimidate you or discourage your decision to pursue entrepreneurship; they are posed so that you are clear on what your financial goal is. If you have no income, then you just need to watch your output to create the business. The critical question is: what are people going to pay you for? A big mistake is when the entrepreneur feels that people should and will pay for a product or service just because she feels it is relevant, what is important is to create a product or service that people need and they recognize it. The product or service will help resolve an issue or multiple issues that they are struggling with. What are you an expert at? Did you go to college? If not, what is your technical skill that other and/or you use to help others? How much may they pay for that skill set?
As you pursue your new project, the most important self-development skill you need to cultivate is to learn how to learn, the second most important skill is to use that new information to support your skills so that you can support your business to sell the product or service you are presenting. It is crucial to remember that you must be aware of how difficult and disheartening this new endeavor can and will be. Striving to become an independently financially secure person goes against the way the financial structure of the world is. Financial institutions have designed a system that benefits their own coffers. They will make money off you, be ready to work harder than you ever worked in your life, and to fill the incredible satisfaction of pursuing your path. Start looking for mentors nor just friends that can give you a pat on the back but folks that will give you those harsh words filled with experience and expertise to get you back on the right path when you are struggling. Enjoy the ride and as Peter Drucker said “The best way to predict the future is to create it. “
