8 Steps to Starting Your Own Business

Becoming a "boomerpreneur" isn't as hard as it may seem.  All you need is a plan to get there.  Follow these steps to get started.

1.  What is your business?  Step 1 is all about finding the business model that is right for you.  There is a step-by-step approach that I teach (see my post Explore Your Business Options).  Before you do anything else you need a clear concept of what your business is all about.

2.  Do your research.  By the time you are finished with this step, you should know who your target market is, who your competitors are, and what makes you different from them.  You should also learn as much as possible about your industry in general.  This is when you also research the legal aspects of your business.  Will you need special licensing or certification?  Insurance?  Should you be bonded?  Will you need a business permit if you are operating out of your home?  Is your neighborhood zoned for business?

3.  Take care of the legalities.  Based on your previous research, obtain any licenses, permits or certification you may need.  This is also when you should decide on the structure of your business.  Sole proprietorship?  LLC?  Partnership?  Make an appointment with a knowledgeable attorney or small business counselor for guidance.

4.  Write your business plan.  If you aren't sure how, read my post Planning a New Business Venture for guidance.  Or contact a SBDC counselor for assistance.

5.  Based on your business plan, obtain any financing necessary.  There are many options for financing a small business.  As boomers, many of us are fortunate to already have the assets necessary to fund our business ventures.  If not, bank loans, investors, or even borrowing from family and friends are all possible.  Do your research and choose the option best for you.

6.  Once you have the funding necessary, purchase any equipment or supplies that you need to get started. 

7.  Start promoting your business.  Order your business cards, set up your website, and begin your marketing/PR campaign.

8.  Launch!

Of course, this is a very basic outline of the steps necessary to start your own business.  Each of these contains additional steps of their own.  But these steps will provide the basic guidance you need to make becoming a Boomer Business Owner a reality.

6 Other Blogs Worth Reading

Not only do I write several blogs, I read many every day. I am always looking for sources of good information and blogs are some of the best. Of course, like everything else, not all blogs are created equal. These are some of the ones I read regularly - because they are some of the best!

Ken McArthur. If Ken shares it, it's worth reading. The man is a business and marketing genius. His latest post on knowing your audience is right on the mark.

Bob The Teacher. I have been a fan of Bob Jenkins (aka Bob the Teacher) for years. I was surprised by how young he was when I first met him. Based on his level of expertise, I admit I was expecting someone more "experienced". But Bob knows what he is talking about. I love his latest post.  He provides step-by-step instructions to fix an email marketing mistake that many internet newbies make.  I wish I had known this sooner!  Been there...done that!

ProBlogger. I first discovered ProBlogger through a teleseminar I attended several years ago. I have been reading his blog ever since. I have used much of what I learned from him to enhance my own blogs. And I will be taking some ideas from his post Do You Know These Time Saving Blog Tips.

Carrie Wilkerson. I met Carrie at the very first jvAlert Live event I ever attended. I was so impressed, I went back to my room that night and started reading everything she wrote. I am still a fan today. She has a way of making you take a hard look at yourself and your business and asking the questions that make you think! As in this post, Are you living in a cave?

Redhead Marketing. Written by the Redhead herself, Heidi Richards Mooney, this is one of my favorite business blogs. Heidi is a one-stop shop for information on everything you need to know about your home business. If you're a fellow blogger looking for some ways to cash in on your blogging,  check out her latest post, 10 Ways to Make Money with a WordPress Blog.

bizchickblogs. I have already mentioned Tia and her blog on another blog post, How to Get That Link Love. I'm still reading her and still loving her blog. Her latest post really gets you thinking about how something as simple as attitude can impact your business - or even our entire economy.  Go read Why are we all such a bunch of Lemmings?

Do you have a favorite business blog? Feel free to share!

Who Would Like A Copy of Felicia Slattery's Latest Book?

Thanks to the generosity of my friend, Felicia Slattery, I have the chance to give away a fabulous gift - an autographed copy of her latest book, 21 Ways to Make Money Speaking.  Recently, Felicia had a little contest of her own.  She would give a copy of her book to the first two people that would Tweet her.  I promptly sent a tweet praising her book to encourage others to participate and that actually was the first one she received.  So I won!  But...knowing how fabulous her book was going to be, I had already purchased my own copy as soon at it was available.  What to do with the second copy?  Pass it on to someone else! 

Why do you want to win this book?  I have been speaking as a trainer and coach for several years and I must admit even I discovered some exciting new ideas in this book. If you are a new speaker, this book will be an invaluable tool in helping you learn to build an income as a speaker.

The book is amazingly easy to read in spite of being packed full of information. I read it through the first day. Now, I am going back through it and picking out the ideas that I want to incorporate into my own business. I suggest you take the time to read it thoroughly the first time. Have a highlighter with you so you can highlight the ideas you want to use. One of the fabulous things about this book is that it is filled with ideas you can use now. Today. So you will want to take note of them so you can put them into practice. Now. Today!

Not only does she give you ideas for making money as a speaker, but most of the chapters provide a list of resources to help you get started. No searching for the information or tools necessary. Felicia leads you right to them.

21 ways to make money speaking. Each one described so you know exactly how to do it. With resources to help you get started. And guidance from one of the best professional speakers and coaches in the business - Felicia Slattery. If you have ever dreamed of making money as a speaker, this book will give you everything you need to succeed. How do you win your copy?  Easy!

To be entered to win Felicia's book, simply post in the comments what you love about Felicia or why you want her book.  The winner will be randomly chosen from all the entries.  That's it!  So post your comment now to win Felicia Slattery's book!

Business Building Secrets of Successful Entrepreneurs - Revealed!

After several years of meeting and learning from some of the most successful internet and home business entrepreneurs in the world, I have discovered the secrets to their success.  And today I am going to share it with you.  Are you ready?  Here it is.  THERE IS NO SECRET!  That's right.  There is no secret formula or system or tool that is going to build a successful business for you.  It takes hard work and dedication, passion and creativity, patience and persistence. 

That doesn't mean there aren't some tips and tools that they know that you don't.  Not secrets - just some tips they have learned along the way that you may not have discovered yet.  And that is what we are going to share.

1.  Before you do anything else - and I mean ANYTHING else - learn all you can about marketing your business.  If I had taken that one small step, I would have saved myself years of wasted time, effort and money.  No matter what business you are in, you have to know how to market it if you want to succeed.  Whether you are in the coaching business, or the sales business, or the design business, or any business, you are also in the marketing business.  And the best resource I know for anyone beginning to learn the marketing business:  Duct Tape Marketing by John Jantsch.  It has become my marketing bible.

2.  Be yourself! Capitalize on what makes you and your business unique.  Copycat businesses, cookie cutter websites, and outright plagiarism are everywhere these days.  I Googled a phrase just the other day and pulled up 4 websites that all had the exact same information - word for word!  And yet each of the owners of the sites publicized themselves as "experts".  Experts in what?  Don't lose touch with yourself. Too many entrepreneurs try to pretend to be something or somebody different from what they are just to be successful. They only thing they are is phony. And most people can spot phony right away. If you aren't credible, you and your business won't go anywhere.  The best resource available to help you showcase all that is special about you - Own Your Niche by Stephanie Chandler.

3.  Do something everyday!  Seriously.  Many beginning entrepreneurs are also still working jobs or are busy caring for children - or as in my case, a parent.  We work all week at these and save our business-building tasks for the weekend.  But then the weekend comes and there are chores to do and errands to run and before you know it our business idea is just a distant dream.  And then we start to make excuses.  I know them all.  I used to use them myself. "I'm not sure this will work." "I need more information." "I'm waiting until the new _______ (computer, software package, printer, etc) goes on sale." "I can't afford _____ (to advertise, host a website, hire a coach, etc)." "I don't have enough time." "I just need my _______ (website, infoproduct, ebook, etc) to look a little bit better."

Determine never to be idle. Do at least one thing every day to advance you toward your goal. It may be the wrong thing sometimes, but it's still better than doing nothing. Thomas Jefferson said, "It is wonderful how much may be done if we are always doing" Think how much you can accomplish towards your business and financial goals if you do one thing every day.  Bob Jenkins says it best:  Take Action.  Revise Later!

4.   Learn to serve. Your value to others is directly related to how well you serve them. Focus on providing the best possible service to as many people as possible and the rest will take care of itself. The Bible says it very well - "As ye sow, so shall ye reap." Focus on serving your customers and I promise your business will grow in direct proportion to your service.

5.  Network, network, network! Even I have had to concede and jump on the Facebook bandwagon. You never know where you might meet your next customer, mentor, partner. Twitter, Facebook, LinkedIn all have hordes of loyal users. Learn to put yourself and your business in front of them effectively using these tools.  And don't forget live networking events.   I started out in business as a meeting planner and Ken McArthur was one of my clients. He often invited me to attend one of his events and finally one day I was able to. That event changed my life simply because of who I met there.  By the way, I will be attending Ken's next jvAlert Live event in Denver, July 26 - 28.  I would love to meet you there!  Not sure how to take advantage of all the possibilities?  Read Currency:  Striking Networking Gold in a Relationship Economy by Carrie Perrien Smith.

6.  Never stop learning. Attend a seminar. Read books - business books, leadership books, inspirational books. Take a course. The more you know, the more you can offer. And the more you can offer, the more valuable you become.

Network Marketing Tip - What I'm Making Doesn't Matter!

"So...how much money are you making?"

I love it when prospects ask me that question! I just had one potential team member refuse to join today because I wouldn't tell him. In his opinion, that meant I wasn't making anything and didn't want him to know the truth. And this situation happens often enough that I felt compelled to address it here.

Let's be real! It doesn't matter how much I make. If I make $10,000 a month does that mean you will? Of course not. And if I'm only making $10 a month, does that mean you will? No.

I personally have sponsored several people who have gone far beyond what I'm making. And I have also sponsored several people who never made a dime.

What I'm making doesn't matter. What matters is how much you want to make.

Network marketing, in general, is a great opportunity. But like all opportunities, some are good and some are not.  Some people will take full advantage of it and some won't. If we all based our potential on the success of those around us, how many of us would ever accomplish anything?

Explore Your Business Options

Once you've decided that the entrepreneurial life is for you, the next step is to figure out how you are going to make this a reality.  Owning your own business is great, but you have to have a plan to get there.

Many coaches will tell you that you don't have to love a product or service to promote it.  It's simply business and as long as it helps you reach your goals, who cares?  I disagree.  I think the more passionate you are about your chosen business, the more likely you are to stick with it and make it successful.  People - prospective clients, customers, business partners - can sense that passion and gravitate towards it.  I know I would rather do business with someone who loves what they do!   So while you shouldn't automatically rule anything out when exploring your options, I would watch out for the "business is business" mindset. 

Choosing a business is all about matching your skills, interests, desires, values, and goals together.  I am a certified coach and trainer (skill).  Education is important to me (interest).  Helping others is important to me (values).  I want to have more time for my family (desire).  I want to have my own business (goal).  Skill + Interest + Values + Goal = Training/coaching business!

I have a friend who is wildly successful in network marketing and while  I also do network marketing, I am not nearly as successful at it as she is.  It is not where my interest or skill set lies.  I am not passionate about it.  And so I don't put as much time and effort into it.  And like anything else in life, you will get out of your business what you put into it.

Running your own business is not a walk in the park.  It takes time, patience, dedication.  It takes the ability and desire to learn the skills necessary.  It takes financial investment. 

Ready to start exploring your business options?  Think about the following question.  They will help you assess your skill, interests, and goals and start you down the path to your perfect business. 

1. What activities do you enjoy most? What are you passionate about? What ideas could you create around what you love to do?

2. What are your strongest skills? What are you REALLY good at?  What ideas could you create around your skills?

3. What are you weaknesses?  I don't care how passionate you are about something.  If you don't have the skills, you won't be successful.  You need to know this up front so you can plan to outsource them or look at other business options.

4. Where do you see yourself in 5 years?  How much money do you want to make?  Where will you live?  What will your perfect day look like?  Dream big! 

5. How much time, money, and effort can you invest in reaching these goals?  Be honest!  It is not always necessary to invest a large amount of money to get started, but you will almost always need to invest a little.  How much can you afford? And starting a business will definitely take time and effort.  How much of each will you realistically devote to this?

Next step - matching your skills, interests, goals, and resources to the perfect business for you!

Best Selling Author, Internet Marketing Genius And All Around Great Guy!

Wow!  I am going to be moving now!  I just learned 10 Crucial Steps to Get Your Site Into the Top 1%.  And The Secret Ingredient for Wealth.  AND Five Easy Steps to Find 4,000 People Who Adore You!  AND How to Pick a Coach or Mentor. 

This is all fabulously useful info!  What makes it even better?  I didn't have to search all over the internet to find it.  It is all available in one place.  And it is all written by one of the savviest internet marketers I know - Ken McArthur.

I have related the story of how I first met Ken many times, so I am not going to go into it again.  Let's just say you never know who you might meet via email marketing and leave it at that.  But I will say that I have stayed in touch with him - sometimes from afar but never TOO far - over several years.  He is one of the few people whose emails I make time to read and whose website I make sure to visit regularly. 

The topics listed above show why.  10 steps to get your site into the top 1%.  What internet entrepreneur wouldn't want that information?  Five easy steps to fine 4,000 people who adore you.  Wouldn't you like to know what they are?  How to pick a coach or mentor.  This information alone would have saved me tons of time and money when I was getting started.

One of my goals this year was to help promote friends and fellow entrepreneurs.  While Ken is one of the most popular guys on the Internet and really doesn't need my help building a reputation, reading the wealth of information available on his site today reminded me of why I am such a fan.  So just in case some of you have not yet stumbled across him, I decided to share.  The man is a genius.  Not only that, he is a genuinely NICE guy.  (Really!  He does NOT pay me to say this stuff about him!). 

So do yourselves a favor.  Click on over to Ken's website.  Check out the articles listed above.  Or any of the several others posted there.  I promise it will not be a waste of time.

By the way - Ken hosts these wonderful events called jvAlert Live!  I will be attending the one he is hosting in Denver July 26th - 28th.  I invite you to join us.  What better way to spend a weekend than with some of the brightest marketing minds on the planet?  Sign up today at jvAlert Live.com so you don't miss out on the latest updates.  See you there!