How To Launch A Personal Business For Survival Purposes

by Arturo F Munoz
(San Francisco Bay Area)

personal business survival screaming dollarToo many people still cannot find jobs. The signs of economic recovery are disappearing. Supply of workers is abundant, while demand is low. Careers are on hold.

What's the solution?

Americans again are becoming exemplary in their determination to work hard as enterprising small business owners. But few have learned entrepreneurship from school.

Their determination is more a state of mind than the result of training or apprenticing.

A lack of know-how is the main reason why so many people, though eager to start a business, fall short of overcoming the fear of doing so.

You need to ask yourself 2 questions if you're facing this type of situation right now:

1. Is it fear of failure or fear of success that is keeping me from taking my first step toward starting my own business?

Fear is a powerful motivator. You may be afraid of blowing your savings or ending in debt unable to pay your loans, branding yourself a loser, having nothing to show for after all is said and done, and arriving to a point lower than where you might already be at.

And yet, success can be hard to swallow. If you succeed you will have to respond appropriately to the demands of a business that you're just getting to know. You'll have to expand into unknown territory, making decisions, taking responsibility. Did you want extra duties along with the rewards of business ownership?

The second question you should ask yourself is...

2. Is it mainly work or is it income that I want from my dedication to launching my own business?

Don't fool yourself. The answer is not obvious.

Most people volunteer because there is work more valuable to them than money. Entrepreneurs are no exception. But money is an enabler. Some people work chiefly to become enabled through money from the business. Which type are you?

The experience of starting a business is like college field work. It takes you farther than the grade your teacher gives you, helping you mature, developing new skills. But, like field work, it could be done for something other than money -- for the work itself, for knowledge, experience, a portfolio.

It's very different to start a business to generate income to survive another month of personal living expenses. Such a business has urgency unlike that of a showcase business project.

A survivor's business must run from its very beginning out of a spreadsheet.

Here you're required to track a clear association between available financial resources and small tangible objectives tested out day by day, week by week against the results from a responsive and clearly defined market niche.

In upcoming posts I will be explaining how to structure this relationship between resources and objectives if you wish to venture down the path of launching a personal business for survival purposes.

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