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Laney Balis

347

REALTOR® @ Align Right Realty Riverview

06/05/20 at 2:55PM UTC

Career

Starting a Business

As a child my dad owned his own businesses that I would have taken over as I got older. Circumstances changed and that didn't happen so I entered the working world albeit not in the normal go to college find a job way. I'm wondering, for those of you that started you own business how did you decide what to do, sell or offer? In the last 5 years I've been laid off from 4 positions for various reasons and my first thought is 'I should start my own business - but what do I want to do? What am I passionate about? How do I go about it?' Then I wind up taking another position for another corporation because BILLS.

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Katie Henderson Ladyboss752675

757

I am an expert in all things visual.

06/10/20 at 9:40PM UTC

Debbie above suggested partnering with someone and that might be a good way to go. In my first business I had a partner and, although the business lasted 13 years, the partner was always a problem because she didn't pull her own weight. So if you do partner up, have an exit strategy if it goes sour. My next business was solo! I "partnered" with business professionals who brought talents and resources I didn't possess: a banker, an accountant, and an attorney. You also need a good insurance agent because you will need to protect yourself. After the first few years, I made more money than I would have made working for someone else, so that makes the long hours, stress and uncertainty worth it. As for knowing what type of business to start, when you are ready, you will know in your heart what to do. At least, that's the way it worked for me. Good luck, and keep us posted on your progress.

Debbie Madden

Founder/CEO Stride - stridenyc.com

06/10/20 at 2PM UTC

I've founded 3 companies - so far :). My thoughts - 1. Keep a list of any and all ideas you have as you have them - don't worry about flushing out the ideas, just jot them down 2. You don't have to have an original idea to start a company. That's one way to do it. Or, you could find someone who has an idea and co-found a company with them. Or, you can improve upon something that already exists (my first company was a new idea and companies 2 and 3 were improving upon software development consultancies. 3. Starting a company is hard, it's a slog, it's exhausting. I think Steve Jobs once said - Only start a company if you have no other option. This is great advice.

Jackie Ghedine

5.8k

Coach for Gen X Women | Jack Russell of Humans

06/06/20 at 11:58AM UTC

Laney, I was you! I was in corporate America my entire career and knew that it just wasn't what I wanted anymore. I would wake up and dread all the tasks that used to fuel me. When I stepped away I thought I had to know my passion and that word alone puts so much pressure on us as individuals and I don't think it's that easy. For me, what I did was really focus on what parts of my job did I miss, what would I be ok never doing versus what do I want to continue to do. What other areas am I curious about, what fuels my curiosity. From that I discovered my draw to psychology and understanding how and why people tick. As you explore, ask yourself some of those questions. Throw out the passion pressure, it can become way too weighty!

Whippoorwill Farm

267

Fierce IT Leader: HEAR ME ROAR!

06/05/20 at 6:01PM UTC

Great advice!

ANGEL RILEY

Public and Political Affairs Executive

06/05/20 at 3:14PM UTC (Edited)

I wonder the same thing at times with the concentration on my business after a corporate layoff. Over the past year, I found that I really am and desire to be a life coach. However, it took a few mishaps and reality checks. 1. Understand you have several talents but only one thing brings you personal satisfaction. Be prepared to travel the road of filtering out what brings you personal enjoyment and what just generate income, causing a bit of stress. 2. Know it's OK to make mistakes. You may be gunho about a product or service. Once you hit the launching pad, you may have an "OMG, what am I doing?" moment. 3. A traditional 9-to-5 is not bad while building your business. Know you have an exit strategy in place. Put in the hours to build your business once you're home. It's also acceptable to know you want both a 9-to-5 and business. In the end, you define your own success. There may not necessarily be a right or wrong answer. A good resource is to check out the local SCORE chapter in your area. Their website is full of resources. You can also be paired with a mentor. I wish you nothing but success!

Laney Balis

347

REALTOR® @ Align Right Realty Riverview

06/05/20 at 11:24PM UTC

Very sound advice, thank you. My problem is I’m all over the place with my ideas. I need to find a way to focus. I’m just. It sure how, working on it though.

ANGEL RILEY

Public and Political Affairs Executive

06/06/20 at 12:01PM UTC (Edited)

I just drafted an article for an online magazine outlining five steps to finding your passion. Even more brief than the article...LOL. 1. Do what brings you personal satisfaction. You’re skilled in many things but everything isn’t fulfilling. 2. Research to see if you need additional coursework, certifications and/or to join certain organizations to help you. 3. Once you’ve identified exactly what you want to do, set goals with actionable steps. Then take massive action! 4. Stay laser-focused on your goal even if or when you encounter obstacles. 5. Find at least one person to hold you accountable. Someone you’re comfortable confiding in and know how to remind you what you said you want to accomplish. SCORE is a great organization to check out. They are full of resources and you’ll likely connect with someone at the same phase in the process as you. Another option may be to do a minimum investment in a direct sales company to see if a product based business is something you want to launch. A final option is to look at franchise opportunities. Check out organizations such as the International Franchise Association. Right now, use your resources and brainstorm what makes sense for your personal situation. You got this!