Put things in perspective

So no one is perfect and there are somethings you may not be able to grasp...but thank God for Google!


Currently I'm doing two entrepreneurship classes (clearly people can see how bad I want to become my own boss, I gave a synopsis in an earlier post about why its my dream but I'll provide my hard reason for it in my next post), so long story short for both classes the final project is to create a "workable" business plan, which will be pitched before actual investors. Both are group projects.


Normally I don't like group projects as major projects but originally I was grateful because due to complications with my university I have a crazy workload, which tips out the average student by quite abit. ( it can be taxing but I have a great support system to help me through it)


For one course I have been charged with the task of writing the 'feasibility analysis.' Never having done one before, I started my research on it (three cheers for Google) and basically its a section of the business plan that determines if it makes sense to continue with your business idea.


At this point, I know what it is in theory, and I've searched and found examples (yay Google) on how to write  one...yet I still am experiencing trouble creating my own.


This stems mainly from a lack of....you guessed it...KNOWLEDGE.


Not knowledge on a feasibility analysis but knowledge on the business we are presenting itself.(mainly because this group has yet to gel as a group and actually get the work done....my dislike for major group projects is slowly beating out my need to share the workload) anyway, now you see the importance of the business plan.


Some people aren't aware of how to create this aspect of their business( the aspect being the business plan)...they may have the idea which they think would make a good business and then to get them started they would hire someone to write the business plan for them (like a consultant)


Personally, and feel free to agree or disagree, writing your business plan yourself helps to make your  idea just a bit more clear and cements it to you...writing it yourself gives you a greater sense of ownership.


Although I say this, if it isn't your strong point, there is no problem having someone go over it with a fine tooth comb  before you try to pitch your idea to investors. My main point is to be aware of what goes into all aspects of creating your company, starting with the business plan, because it can really put your business into perspective.


So be aware of all aspects of your business, knowing how things are done can aid in how to fix surprises that can occur and can be a significant advantage in presenting your business to others.

Money should work for you 2

Money should work for you @Trawling the internet as I'm want to do, like a shark seeking out prey for my daily meal, I came across a rather interesting article  entitled '7 Secrets of a Self Made Millionaire."


The title alone caught my interest...after all who wouldn't want to be a millionaire...we can't all win lotteries....getting your million may need some serious hard work. After the title, my eyes wandered further still...and lo and behold the dark corner of my mind became unlocked by the key of knowledge, when I happened upon the words-" First, understand that you no longer want to be just a millionaire. You want to become a multimillionaire."

Needless to say...that blew my mind wide open...I'm talking wham! bam! pow! Batman style. Of course I wanted to see a million dollars...getting the first million will be hard enough...so now I have to think about getting multitudes of millions...you could blow me down with a feather.

Mainly because....I thought this was obvious!?! Am I the only one...by the time I take my one million...buy the house of my dreams and pay for its upkeep...donate some to charity...shut my eyes and let government rob me of the rest under the guise of taxes....my million is gone...and with it my legacy. 

Let's face...there's no point working hard to accumulate wealth and that's all you do...sit holed up in your tower counting it over and over...watching it grow but doing nothing with it. For those connoisseurs of cartoons, I'm sure we all know SpongeBob SquarePants. 

In one episode, the character Mr. E. Krabs made a wish to be able to talk with money. When it was granted by the Flying Dutchman, he asked the money what it is they wanted and the resounding reply was "we wanted to be spent, we are money...its what we were made to do!"

I'm not saying that as soon as you make money you spend it, I'm saying be wise with your money. Your money should work for you, as much as you need it to work. Being an entrepreneur means sacrifices will have to be made, at least until you can achieve a level of financial security, where your profit isn't being sunk into your overhead expenses and you aren't basically living from pay check to pay check...that's if you are even getting a pay check.

Working for your million and beyond is hard work and you should enjoy the rewards that will come from the  hard work and dedication. Smart spending, and investments can easily aid you in turning that one million into more, just don't become to reckless...after all money doesn't grow on trees.

POEM!!

Be the best you can be 
And let all others see.
Soar to new heights
But don't get blinded by the lights.


Be the king of your castle
Don't let ruling be a hassle
Appreciate what you have
Life can be a blast


Be your own boss
Somethings may present a loss
Just shake your self up
Hooha! Hurrah! Fist pump!


The world is your oyster
You aren't living in a cloister 
Expand your horizon
Know you're one in a million!
_______________________________________________________________________________


Just a little creativity folks. Determination, perseverance, and go getter attitude will take you far on your journey to be an entrepreneur. 


Not every thing will go smooth, in fact somethings will downright fail, and as cliche as the movies have made it, its how you pick yourself up and carry on that will determine how long you stay a failure.


So bottom line, my little grasshoppers, put your best foot forward and keep going forward...you can even sing a jaunty show, and the path to success may not become so daunting..it'll be hard...but not daunting.

Friends or employees.

Keep your friends close...but not as your employees.

 I'm not saying this goes for everyone, you might actually have the healthy kind of relationship with your friends where you can cuss them off-no grudges held, separate your weekend jaunts from business days, then by all means hire your friends.

The reason I'm writing this post was because...(and I'm ashamed to say it because I consider myself to be intellectual on some level-just you know...with bad entertainment choices...) I was watching "Real Housewives of Orange County" (what can I say-I was flipping channels, landed on that one and the remote battery fell out...on numerous occasions heheheh)

In this particular episode the newest housewife for this season is an actress on sabbatical to raise her family, who misses the bustling joys of work..therefore she and 6(yes count it 1,2,3,4,5,6!) of her girlfriends are looking to open a restaurant. 

The new housewife took two of the old housewives who had been there for many seasons with her to a lunch with two of her soon to be business partners, where they met with the owner of a successful restaurant, who gave them advice on how to go about building their business. One housewife is a successful business woman in her own right, running an insurance company.

If any of you have ever watched the show, its really a cat fight with a lot of back story going on. The women always have some sort of beef with each other. So of course when the new housewife asked the other two housewives what they thought about the business proposition, the experienced businesswoman, her thoughts on the matter..."six female friends starting a business...RUN!!"

Ok...while I'm sure that had to do with the fact that they were women more so than friends....friends or family going into business shouldn't be taken lightly. Don't believe because its friends or family that any problems that will arise will be sorted out because at the end of the day who can stay mad with familial blood running through your veins or years of crashing at someones house should get you through the bad times.

In all honesty if you are going into business with family or friends you need to have it all in writing...that's if you are entering into a partnership. If its a case where you are the boss and hiring your friend to work under you boundaries need to be put in place and although this may sound harsh, feelings take a back seat to business.

If your friend is doing a bad job, don't keep them on in hopes that  your friendship will turn them around...fire that sucka.

Family may be a bit more difficult...after all you may have to sit at the dinner table with them after you fire them. 

This can all be avoided though if you employ one of the crucial entrepreneurial skills...communication. This is the part of the business where you shouldn't play poker...lay all your cards out on the table and let your friend or family member do the same.

Let them know what is expected of them, just as you would any other employee you hire, without years of history together. And probably the most important thing to remember...don't compromise your business for  the sake of keeping the peace.

They aren't your friends or family when you hire them, they are your employees or partners and if the well being of the business isn't a part of their agenda, be strong and do what you have to to ensure your livelihood stays strong.

sounds selfish...maybe...but then again your true friends  or loving family members will do their best to see you succeed and it may never come to that. 

Leave your arguments at the door and never bring it to the workplace.

Work on separating the regular life from the work life and you could possibly have a a successful business with your friends or family.