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If acquiring a new skill would equip you to enter a business that you think you could make succeed, then by all means acquire that skill. To come up with an inventory of your particular skills, pull out all of your old resumes (or create them if you don't have them) and recall what you did in every job you had. For example, if your business provides a service to your community's elders and you perceive this as being of high importance to society, then your business meets your intrinsic values. Extrinsic values, on the other hand, refer to the external features of your business such as your physical environment and profit potential. By identifying those intrinsic and extrinsic values that are important to you, and identifying the types of businesses that will satisfy those values, is an important step in deciding whether a business of your own is something worth pursuing. Perhaps the most prolific basis of personality tests is Jung's Personality Theory, dividing people into eight personality types: extroverts, introverts, thinking, feeling, sensing, intuitive, judging and perceptive. If this interests you, you'll find no end of information online about the types of occupations and businesses suited to each personality type. Don't let the results of such a test play a disproportionate role in your decision- Article: 'Well, it's happening. My employer, the County Health and Welfare System, is sale me out. I leave in April, 2002. Seems like a long time from now, but I know it's really just approximately the corner. So how do I evaluate my skills? And how do I set to a new career? And how do I deal with the fear of the unknown, of the lack of income (other than the retirement check), of maybe working first and last out of this office?' This is an extract of an email I received this week from an AHBBO subscriber, Cecily. Just Friday, driving home from work, I heard that Ford was in relation with to lay off among 4,000 and 5,000 employees from its U.S. operation. So nothing unusual relative to Cecily's situation, unfortunately. Seems like every day we hear of more and more businesses fellow 'forced' to downsize their workforces. What we don't hear hard by every day is what happens to all those displaced workers. Many people just look for contributory job, find one and get back into the ratrace, all the while readily monitoring the financial performance of their new employer, hoping they won't get laid off again. For many, this is just the way the world works. And it systematically will be as long as they continue to work for someone else. Do you really want to live like this? Well, you don't have to. The solution, though not for everyone, is self-employment. In this article, we look at how to determine whether self-employment could be for you and how to turn that dream into reality. PERSONAL INVENTORY As Cecily correctly identified, a personal skills grouping is an important early step. Your personal skills inventory is only one factor to take into estimation when considering whether self-employment may be for you, however. Equally important are your strengths and weaknesses, interests, resources, air and other personal qualities. Your personal inventory should encompass at least the following: => Skills Assessment Just inasmuch as you're good at something does not mean that you necessarily enjoy it. If you're good at something that bores you to tears, then don't use that skill as the bedrock for your new business. You'll be miserable! But, if what you're good at is something you also happen to enjoy, then there's a HUGE clue apropos what your business should be all about. When thinking hard by your skills, think also in terms of skills you don't presently possess but which you could palm with a reasonable investment in training. If acquisition a new skill would equip you to enter a assigned task that you think you could make succeed, then by all means acquire that skill. To come up with an inventory of your particular skills, pull out all of your old resumes (or create them if you don't have them) and recall what you did in every job you had. Make a list of your commerce and the skills that were necessary to perform them effectively. Here's some consonant categories to start organizing your thoughts: * articulation - speaking and writing effectively; listening; expressing thoughts and ideas; negotiating; persuading; interviewing; editing; facilitating; responding appropriately. * Human Relations - motivating; delegating; dispute resolution; assertiveness; giving credit where due; developing team cohesiveness and rapport; sensitivity; listening skills; supportiveness; cooperation; cooperation; developing others. * Leadership - coordinating and motivating; coaching; counseling; change agent; conflict resolution; decision making; teaching; managing groups; multitasking; initiating new ideas and programs. * Planning - forecasting and predicing; information gathering; needs analysis; evaluation strategies; acquisitive important information; idea generation; problem identification; brainstorming; problem solving. * Effectiveness - implementation of decisions; cooperation; policy enforcement; gentle responsibility; organizing; making decisions; punctuality; time management; immersion to detail; goal attainment; meeting deadlines. => Strengths When considering what strengths you possess that you could draw and create upon in a metier of your own, think in terms not only of personal qualities such as determination, effort and dedication but also to tangibles such as educational qualifications and financial reserves. => Weaknessses Just as you did with your strengths, focus on the tangible as well as the intangible. Examples include zero financial resources, lack of personal discipline; and poor health. => Values Values are the things that are important to you and are divided into two types: intrinsic and extrinsic. Intrinsic values relate to what you will be doing in a day to day sense and how valuable an fallout you perceive that to be in the overall scheme of things. For example, if your duties and responsibilities provides a service to your community's elders and you perceive this as living soul of high importance to society, then your business meets your intrinsic values. Extrinsic values, on the other hand, refer to the external features of your role such as your physical environment and profit potential. By identifying those intrinsic and extrinsic values that are important to you, and identifying the types of businesses that will satisfy those values, is an important step in deciding whether a establishment of your own is something worth pursuing. For YOU. => Personality Various personality tests have been devised to determine your personality 'type' with the idea that people apposite to attested types do particularly well in relentless careers and businesses. Perhaps the most prolific living issue of personality tests is Jung's Personality Theory, dividing people into eight personality types: extroverts, introverts, thinking, feeling, sensing, intuitive, judging and perceptive. If this interests you, you'll find no end of information online much the types of occupations and businesses suited to each personality type. Don't let the results of such a test play a disproportionate role in your decision-making process, though. Just use it as one of several factors you take into account. => Interests and Hobbies This one's a real no-brainer but it bears stating. Try and create a business heels over head something that you're interested in. at any rate not a certain rule, you tend to perform worsen at what you enjoy and to enjoy what you're good at. Be sure to look at the other side of the coin too and inventory what you're NOT interested in. Sometimes knowing what you DON'T want to do makes it easier to see what you DO want to do. => Resources These include not only financial resources but others such as your personal relationship network (who do you know who could help you in your new venture), office equipment and other facilities. => Attitude Do you have a 'can do', optimistic attitude? Are you determined to succeed whatever it takes? Do you swear by you control your own destiny or is life a series of random events that happen to you no matter what you may have planned? => Other Personal Qualities Finally, think casually the personal qualities that make you, you. Are you energetic and motivated, are you resourceful, are you resilient, realistic and practical, a hard worker? Once you have completed your personal inventory, sit down and rank your positives from highest to lowest. Then do the same thing with your negatives. Once you've ranked your strengths and weaknesses in this way, you'll have something of a framework within which any prospective merchant idea must fit. If your idea requires great strength in an area where you're weak, toss it. If it requires strength in an area where you're strong, keep it. This is not a unpardonable and white exercise. Any idea you have will require any confraternity of skills and strengths. You must evaluate objectively whether your particular solidarity of skills and strengths is enough to pay the penalty for your particular weaknesses and make a success of the venture. IDEA GENERATION So, where are you to get the ideas headed for which to measure your skills and strengths? First off, bear in mind there are a number of approaches to starting a trading of your own. You may provide a service; you may manufacture a product; you may distribute a product manufactured by someone else. A well-known schematic which sets out all the possible combinations is as follows: 1. Existing products/services and existing markets. 2. New products/services and existing markets. 3. Existing products/services and new markets. 4. New products/services and new markets. If you focus on option 1. you face stiff competition. If you focus on option 4. you have to invent the wheel first. So pay most remark to options 2. and 3. Take your skills inventory. What do you know and enjoy the most? Are you a specialist? Think more or less what you know. What do people buy? What do people want but can't buy? What do people buy but don't like? What are people buy more of? Where do they buy and when and how? When you've considered that, look at how you can assimilation existing products or services to meet an unmet need, to meet a need in a different, more convenient way, to improve the quality or service. Be particularly observant and on the lookout for emerging trends (an aging population, an increasing number of people working from home etc.) and expanding market niches (e.g., increased reliance by businesses on outsourced services). During this process, employ any technique you can think of including brainstorming, way people (novel but effective!), read trade magazines and directories. Focus on your consumer and market, not on your product. in the rear all, there's no point in embodiment a more mousetrap if no-one needs or wants one. By the way, don't forget, when you think in terms of your own business, self-employment includes independent contracting and consulting. Perfect outlets for what you know if what you know is in high demand. IDEA ASSESSMENT Once you have a shortlist of taking a role ideas to play with, start assessing them as viable operating company opportunities. This means devoting time and effort to assessment, research, development and planning. Examples of the types of occupation you should be engaging in here include: => Talk hereabout your product or service with prospective customers. Is there really demand for your offerings? If so, how strong? How price sensitive? What sets you in the singular from your competition? => Research Find out everything you can almost your target market and your competition then as previously servicing that market. Are price wars common? If so, you have too much competition. Are there only one or two big players and no little ones? If so, the barriers to entry are too high. Look for markets where there is healthy competition between product/service providers but where profit margins are reasonable. => Analyze your Competition Who are they, how are they structured, how long have they been in business, what are their respective market shares, what sets you apart? => Strategize How would you start out? Can you start out part-time in the foreground you leave your paid job? Can you work from home? Will you start from scratch or buy and existing profession or franchise? How will you market your business? => Prepare Projections Work out what your expenses are likely to be and how much revenue you need to be able to generate to brush even. Then work out roughly how much revenue you need to make a predetermined box score of profit (remembering to factor in the cost of your time and finance expenses such as loan repayments). How realistic are your revenue objectives? Are they attainable? Over what timeframe? PLANNING AND LAUNCH Finally, once you've identified an idea that makes it past the first cut (i.e. everything you've done to date), do the whole idea assessment routine as new but this time heartstrings much more detailed and specific. At the end of this process you need to be able to produce a solid business plan, one you can take to the bank if necessary. Even if you're not going to need outside financing, do your formal big business plan anyway. It will help you ensure you've covered all the bases and left nothing out. By the time you finish your acting plan, you should know your business inside out. All that's left is to put your plan into method and launch! Not surprisingly, the whole process from personal inventory to launch is not something you can do in a week. Ideally, it's something you will be able to start in times past you lose your job since it will likely take you several months. But the returns on your investment can be substantial. Do it right and do it well and you will create for yourself your own employment, never to boot to be at the mercy of someone else to determine your fate. But it's not an easy road. Self-employment is not a safe route. It rewards the risk-takers and the resilient. You may not succeed on your first attempt. But, as with in life, where there's a will there's a way. If you are truly determined to create your own security, nothing compares to putting your destiny back where it belongs - in your own two hands.
Dear Readers, Have you read my ebook Nichework Marketing yet? Next week I’m hosting a free webinar on finding your niche. In my book, Nichework Marketing, and on these webinars I talk about the importance of finding a niche when marketing yourself online. One reason is the search engines love niche web sites. Another reason is [...] Post from: Network Marketing & MLM Training from Home Business Blogs - A blog about what it takes to succeed in network marketing & MLM. Article Index: | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 | 90 | 91 | 92 | 93 | 94 | 95 | 96 | 97 | 98 | 99 | 100 |
Advice Home Business Technology Online Advertising Motivational Internet Marketing SEO Help Online Games Science Articles Happiness More Articles:1. How to Start a Photo Mug Business for Fun and Profit Summary: With a photo mug business you can provide personalized services to people and make money. If you are having trouble financing your photo mug business, consider creating a business plan. But chances are you will not need financing and if you do it should be for less then $10,000.If you have decided not to purchase a franchise or license, you will probably need financing and the business plan is the best way to finance your photo mug busi… 2. The Something-For-Nothing Syndrome Summary:You've had a long day.You're tired from working all day long and tired of havingto watch every penny you spend. Unfortunately, it's all too easy to get caught in the trap of expecting 'something for nothing' - you've worked hard, you've heard all the good things about how people are getting rich on the Internet ... None of them will make you rich by working only 3 hours a day, and none of them are 'automated cash machines'!Forget the endl… Birthday Experience Gifts Web Design 3. Goals Galore! Summary: You make your goals intoattainable steps and follow those steps to success.You will accomplish more and not be so easilydiscouraged by working your business this way.When you first decide you want to start your ownbusiness, what you should do is write down yourplan for your business and also what you want yourmain goal to be. Writing down andscheduling my daily goals has really helped me getmore work done.You should also write down your … 4. Visualise your way to home business success Summary: The power of visualisation is a skill which is often neglected by people who run their own home business.Visualisation or guided imagery is a very powerful technique that can help increase both your efficiency and effectiveness in achieving your home business goals. By doing this they train their minds and bodies to actually perform the skill as effectively and efficiently as possible.For example, Justin Gatlin who is now the 2004 Olympi… |