Is Your Money Mindset Keeping You Broke?
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Is Your Money Mindset Keeping You Broke?
Is Your Money Mindset Keeping You Broke
Your money mindset is often the difference between prosperity and hardship. Do you realize that the stories that you tell yourself about money could be holding you back from the success that you desire? This episode of My Biz Dream Team: Opportunity Wednesday Training Series looks at how your money mindset may be standing in the way of your prosperity and keeping you broke.
What is Your Money Story?
In this episode, we discuss two typical money stories that may be stopping your prosperity. One money story is the “Doomed” story. In this story, you are cursed never to have any money because your entire family is cursed with bad luck when it comes to money. You are “the victim” of someone’s bad luck or bad deeds. Does this sound familiar?
The next money story that may be standing in the way of your prosperity is the “Evil Money” story. In this story, you tell yourself that having money is bad. You do not deserve the good things of life. You tell yourself repeatedly that money is evil. Does this sound familiar?
If you take a close look at that often misquoted verse (1Timothy 6:10) it says: “For the love of money is a root of all kinds of evil.” In context, the quote is about those who are tempted by riches and make foolish decisions that lead to their ruin. Unfortunately, some people may become so afraid of materialism, they often go the other way. They often create money stories that do not allow them to provide for their families’ basic needs.
Katherine Keller, in her insightful article in Entrepreneur magazine “5 Beliefs that Keep You Broke,” highlights how those beliefs may be keeping you from using your energy “towards creativity, peace, joy, happiness, the ability to solve problems, or to feel that [you] have control over [y]our [life].”
The Truth About Money
Do you know the truth about money? Money is a tool. It is a tool that you can use to create the freedom to give. Money is a tool to give you freedom to help others when help is most needed. Instead of giving out of guilt, it is much more effective to give out of a feeling of empowerment. It is more effective to renew the well, so that the more you give, the more you receive. That is what creating a strong, positive financial story allows you to do.
Once you understand that money is a tool that you can use to shape your world, then you can begin to remove the blocks to your prosperity.
Changing Your Money Mindset
It does not matter which type of negative money mindset that you have. If it leaves you feeling financially fearful and disempowered, it is a money story you need to change.
Your money mindset will shape how you view your business and the decisions that you will make. Will you decide out of fear or out of power?
Listen to the podcast as we discuss the seven symptoms that show that you are prosperity blocked and doomed to stay broke if you do not change!
I am Pamela Montgomery, attorney, author, entrepreneur, and speaker who helps you create the life of your dreams as you achieve uncommon results in your business and in your life!
What Happens When You Start a Successful Online Business Before Retirement
What Happens When You Start A Successful Online Business Before Retirement
What Happens When You Start A Successful Online Business Before Retirement
Have you ever thought about what happens when you start a successful online business before retirement? Can you imagine using your knowledge and experience to launch a business helping other people solve their problems. Rethink the concept of retirement and learn how you can benefit from starting an online business – even before you retire. In the 21st century, many retirees are not resting on their laurels. Retirement is no longer about sitting around or playing golf all day. A Yahoo Finance News article, 11 Tips for Starting a Business in Retirement, highlighted this new approach to retirement. For several reasons that we will discuss, many seniors are preparing for retirement by becoming part time online entrepreneurs. This article will discuss several benefits of launching a successful online business before you retire.
1. Adding to Your Financial Resources
There are several reasons so many seniors build an online business before the retirement. For example, many seniors realize that their retirement savings may not be enough to support them. This is a realistic fear that you may outlive your nest egg. Your pension, if you have one, savings, and Social Security may provide you with the necessities. However, the luxuries you would like to enjoy may not be affordable. One of the benefits of building a part time business in your spare time before you retire is that you can start earning extra income while you are working and plan for it to increase when you retire.
2. Keeping Your Mind Sharp
There are other social benefits in addition to the financial benefits of having an online business. For example, having a second career to pursue after retirement keeps your mind sharp. You will not ever get bored if you are committed to your business pursuits and learning new skills. Beginning a new business on the internet may not be for all seniors. It may take developing an entrepreneur’s mindset. It will take patience and persistence to succeed. A realistic way to look at beginning any new business is that it will take six months to a year to know if you are going to succeed fully at it.
3. Being Your Own Boss
Most seniors find it highly preferable to be their own boss rather than searching for another job after retirement. When you have your own business, you can enjoy a life of flexibility that you do not have with any other part time or full time job. You can enjoy the lifestyle of an internet entrepreneur. You may want to read an earlier article, 3 Tips for Seniors Starting an Online Business for more information on this topic.
Conclusion/Call to Action
Imagine what happens when you start a successful online business before retirement? The benefits are several, including:
· Adding to your financial resources
· Keeping your mind sharp
· Being your own boss
The Internet has made it possible for you to redefine your retirement years. No matter how old you are, you can learn what it takes to become an online entrepreneur. Then you can use your experience and knowledge to build a business even before you retire. Let us show you how with The Strategic Pathway to Success Program™.
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How to Showcase Your Fabulous and Authentic Voice
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Showcase Your Fabulous and Authentic Voice
How to Showcase Your Fabulous and Authentic Voice
This week’s episode of My Biz Dream Team: Opportunity Wednesday Training Series is all about how to showcase your fabulous and authentic voice. In this episode, we discuss the importance of sharing your expertise in a manner that builds trust and loyalty. As you share your expertise, you build your authority status and become a trusted advisor.
Henry David Thoreau wrote, “Most men lead lives of quiet desperation and go to the grave with the song still in them.” The “song” is not music. Instead, it is your unexpressed authentic self, waiting to come out. Perhaps it is fear of rejection or fear of success that keeps you from sharing with the world your wisdom and expertise. Or it could be a lack of confidence. Whatever is holding you back, can emerge as you become an entrepreneur.
In a Huffington Post article, Dennis Merritt Jones wrote, “Finding your authentic voice is for naught unless you are willing to use it.” Once you begin to use your authentic voice, magic starts to occur in your life.
Are you ready to use and showcase your fabulous authentic voice?
In this episode, we discuss 5 steps that showcase your fabulous and authentic voice. They are:
1. Write Blog Posts
One of the best ways to showcase your voice is to write blog posts that present top quality information using your unique perspective.
2. Publish a Book
Publishing a book is a fantastic way to establish your authority status and share your voice. Nothing opens more doors for other opportunities like a book.
3. Hold Live Events
Holding live events such as webinars or teleseminars that provide value-laden information to people who want to learn from you is a great way to connect with your audience.
4. Produce a Podcast
An audio podcast allows you to express yourself orally. You may find it easier to express your ideas orally than in writing. To find out how you can produce your own impactful podcast series, check out our Special Report and Training Guide: The Podcasting Power Playbook. Be sure to subscribe to our podcast series: My Biz Dream Team: Opportunity Wednesday Training Series where we share powerful strategies to help you build a business of significance and achieve uncommon results.
5. Create Information Products
Another great way to connect with your audience is to create information products that allow your audience to learn more in-depth information from you. You may want to create an information product online that uses a membership site to deliver written, video, or audio content.
Conclusion/Call to Action
There are many ways to showcase your fabulous authentic voice as you allow it to emerge. You can use your voice to impact the world as you (1) write blog posts; (2) publish a book; (3) hold live events; (4) produce a podcast; and (5) create an information product. These opportunities and others help you become a recognized authority and showcase your authentic voice.
Pamela Montgomery
I am Pamela Montgomery, attorney, author, entrepreneur, and speaker who helps you create the life of your dreams as you achieve uncommon results in your business and in your life!
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How to Love Your Business and Your Life
Love Your Business and Your Life
How to Love Your Business and Your Life
How to love your business and your life is a natural question asked by many entrepreneurs. What must I do to feel satisfied? How do I know if I am making the right decision? These questions and others like them pop up from time to time as you make choices about your business, career, and life. In this article, I will share with you a 3-step approach that I have used over the past few years to help me love my business and live a purposeful, productive, joyous life. This approach is for you:
· if you do not want to settle for what comes your way;
· if you want to live a life of joy, purpose, and peace;
· if want to love your business and your life!
1.”Refill the Well”
In “The Artist’s Way,” a seminal book in the personal development movement, author Julia Cameron reminds us that creativity cannot survive in a vacuum. She recommends that writers and others spend time in nature, visiting museums, or pursuing other activities that “refill the well.”
How do you “refill the well?”
You can interfere with your desire to love your business and your life by working too much. Sometimes you just need to get out of the office. In a recent post, I wrote about “Finding Time for Yourself: Me Time.” You may find it helpful as you go through this process of determining how to love your business and your life.
When it comes to discovering your life’s purpose, you will want to get out and try new things. Now is the time to try out all those things you thought you might enjoy but never got around to doing.
For example, you could:
· Take a yoga class
· Train for a marathon
· Learn to design jewelry
Only by trying out a variety of activities will you find those that bring you joy—and eliminate those you never want to do again.
2. Plan for New Experiences
Start a list of things you would like to experience. This can be a living document that you continue to add to as new ideas come to you. It is also the document you will refer to as new opportunities present themselves.
But do not just list things. Plan. Then do them. Add at least one new experience to your calendar every month, then do what it takes to fulfill that obligation with yourself. You might just discover a favorite new hobby, or meet your new business partner in that yoga class. At the very least, you will be refilling your own well. For example, last year I joined a new community organization to meet people who shared similar beliefs about community service. This year I was elected an officer of the group. As an officer, I am even more involved with the group’s projects and mission.
3. Consider the Possibilities
Many business advisors will tell you that the secret to a better business is focus. For these business advisors, to be distracted by other opportunities or ideas is to dilute the power of your core business.
While this can be true in many cases, it can also cause the purpose-seeking entrepreneur to freeze in his tracks. You may be unwilling to move in any direction for fear of choosing the wrong one. Much like the college graduate who feels trapped in a job she hates, simply because that is what she knows. You may end up hating your business and wishing for a day job again, if you do not explore the possibilities.
Rather than wearing blinders that keep you too laser focused every moment, take some time to explore other possibilities. Look for complementary ideas that are a natural match for one another.
Do not be afraid to follow that winding path from time to time. You never know what you might discover around the next bend.
Therefore, it is important to loving your business and your life to create a list of future projects. This “Someday” list contains the projects and plans you want to do, but not right now. Much like your new experiences list, this is a living document where you will record every new project that crosses your mind. Some will be good. Many will not. But that is okay. The point is to not close your mind to the possibilities.
Conclusion/Call to Action
In determining how to love your business and your life, I recommend a 3-step approach that will open a pathway to a joyful, purposeful life where you love your business and your life. To love your business and your life remember to:
· “Refill the Well”
· Plan new Experiences
· Consider the Possibilities
By following these 3-steps you are well on your way to creating the life of your dreams where you love your business and your life.
Leave a comment about the steps that you are taking to learn how to love your business and your life.
I am Pamela Montgomery, the attorney, author, and entrepreneur who helps you create the life of your dreams as you achieve uncommon results in your business and in your life!
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This is What Happens When You Leave your 9-5 Job
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Leaving Your 9-5 Job
This is What Happens When You Leave Your 9-5 Job
This is what happens when you leave your 9-5 job. You execute the plan that you have spent weeks preparing. You decide whether you are going to (1) quit your job completely within the month or (2) phase out your job in stages, setting up your business on a part-time basis. This episode of My Biz Dream Team: Opportunity Wednesday Training Series will tell you all about you can expect when you leave your 9-5 job. This episode concludes a 4 part series that provides you with a systematic approach to leave your 9-5 job and begin your entrepreneur dream.
We have included a checklist to support this episode: What Happens When You Leave Your 9-5 for Your Entrepreneur Dream? Click here to get your checklist.
Below is an excerpt from the checklist.
Plan for Growth
I am ready TO ACT and get started—today!
I have identified my key:
Milestones
Goals
I know how much I need to:
Cover my expenses
Invest back into my business
Make a profit
I have determined what software, tools and services I need
I understand I will have challenges but I am ready to meet them with a positive, proactive attitude
I have a plan and a roadmap that will help me deal with issues like discouragement or challenges
I have set up and planned a rock-solid foundation for my business, with everything set up in place
I have planned for growth and expansion to the best of my ability and research right now.
Develop Consistency
I am cultivating the habit of ACTING every day
I am avoiding the traps of:
Perfectionism
Procrastination
I am taking my planned steps—one after the other
I understand that being fearless is not a feeling, but a decision
I understand that consistency in my business practices and habits is vital to success
I understand I need also to have:
A list-building plan
A social media plan
A content plan
An outsourcing and automation plan
Develop a Sales Funnel
I am planning an entire, cohesive sales funnel rather than just one offer or package
I am tailoring that sales funnel to the steps my ideal client or customer is going to need to take after each offer
Use Automation to Reach Goals
I am using automation to create consistency in my practices, speed them up and ensure that tasks are performed efficiently
I am semi-automating my content and offerings to ensure they are of top quality and consistency
I am automating tasks and functions that do not depend directly on my personal involvement
I have determined:
What to automate
Which system, method or tool to use
I have listed the functions I may need automated, and properly researched the best choice in automation options.
Build a Powerful Team
I am planning for outsourcing in my business
Immediately
In the future
Task by task—starting soon
I am planning one day to have a powerful team that can function well in my absence.
Conclusion/Call to Action
This is what happens when you leave your 9-5 job. You begin to build a viable and sustainable business. You begin a strategic pathway to entrepreneurial success. You begin to live the life of your dreams. By following a few strategic steps, this is what happens when you leave your 9-5 job, you will:
- Plan for Growth
- Develop Consistency
- Develop a Sales Funnel
- Use Automation to Reach to Goals
- Build a Powerful Team
Leave us a comment to let us know if you are ready TO ACT and leave your 9-5 job.
I am Pamela Montgomery, the attorney, author, and entrepreneur who helps you create the life of your dreams as you achieve uncommon results in your business and in your life!
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How to Keep a Journal that Will Help You Discover Your Purpose
Discover Your Purpose
How to Keep a Journal that Will Help You Discover Your Purpose
Discover your purpose! If it were only so easy. We would all be blissfully happy in our careers and our lives. Instead many of us struggle with the choices that we have made and are searching for other options. One strategy to help you discover your purpose is to engage in writing in a journal. This article will show you exactly how to keep a journal that will help you discover your purpose.
The 30-Day Journal Challenge
Step 1: Keep a Daily Journal
Perhaps you already keep a journal. But, if you do not, I want you to start writing in a journal. Your challenge for the next 30 days is to keep a daily, purposeful journal. Here is how that works.
First, set aside time each day for writing in your journal. This can be first thing in the morning, last thing before you go to bed, or even right after lunch. It does not matter what time you set aside for writing in your journal. What is important, is that you make an unbreakable appointment with yourself. You must commit to doing the work—even when it feels hard or uncomfortable.
Step 2: Answer Specific Questions in Your Daily Journal
The next step in the 30-day journal challenge is try answering specific questions each day. This practice contrasts with the usual practice of merely writing random thoughts. This type of journaling helps you maintain focus. Answering specific questions will also allow you to look back later and know exactly what works. You will also be able to tell exactly where you might want to focus your energy.
Here are a few suggested questions to include during the challenge:
1. What was the best thing that happened to me today?
2. How did I make someone else’s day better?
3. How could today have been better?
4. What is the one big thing I want to get done today?
5. What is one thing I did today just for me?
6. Who made me smile today?
7. What has been my biggest achievement this week?
8. Fast forward to next year. What has changed about your life or your business?
You do not have to answer each question every day. There may be other questions that you would like to add to the list. Have fun. Use your journal as a source of inspiration, reflection, and creativity. Spend some time looking forward to what you hope to achieve. Also, take time looking backwards at how much you have already achieved.
Review your journal periodically. Taking note of recurring themes in your journal is a powerful way to discover your true purpose.
Step 3: Add a Few Words of Gratitude to Your Journal
As you grow accustomed to using your dedicated time to answer these questions in your journal, try adding a few words of gratitude. Every day, you are surrounded with reasons to be grateful. For example, I am grateful to have a roof over my head and food to eat. I do not take such things for granted. Some people are not as fortunate as I am.
Be sure to note both the small and large things for which you are grateful. Reminding yourself of all these things will help keep your attitude positive. When you are in a positive frame of mind, you are more open to discovering your life’s passions.
Read the following article to find additional strategies to finding your highest best purpose for your life!
Conclusion/Call to Action
Discovering your purpose in life can be a daunting task. But I have discovered that keeping a daily journal is a fabulous way to discover my purpose. Remember to follow these 3 steps as you take “The 30-day Journal Challenge,”
1. Keep a daily journal
2. Answer specific questions in your daily journal
3. Add a few words of gratitude
Remember that your journal is for your eyes only. You will be more likely to use it if it is as colorful and unique as you are.
Leave us a comment to let us know that you will join us in “The 30-day Journal Challenge.”
I am Pamela Montgomery, the attorney, author, and entrepreneur who delivers result-oriented solutions that help you achieve uncommon results in your business and in your life!
Pamela Montgomery
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A Powerful Approach for a Practical Business Start-up
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A Powerful Approach for A Practical Business Start-up
A Powerful Approach for a Practical Business Start-up
A powerful approach for a practical business start-up begins with brainstorming a few crucial questions that will launch your business on a solid foundation with a sound business plan. This episode of My Biz Dream Team: Opportunity Wednesday Training Series, discusses this powerful approach for a practical business start-up.
Begin brainstorming by asking yourself these key questions:
Are you building quality into your business set-up?
Sometimes it is easy as a new entrepreneur to justify using free products and services because, “I am just beginning.” But it is a trap for the unwary. You may very well find yourself caught in a mess of disorganization and chaos because you choose the cheapest option available. If you want a business that will survive and grow, begin by building quality into the DNA of the business. Make sure that you have a presence on the internet that you own and control. Yes, that means buying a domain name and paying for hosting. They money that you spend up front will be well worth it over time.
How will you attract your ideal client?
As you brainstorm about the business that you will launch, carefully consider: (1) who is your ideal client and (2) how will you attract your ideal client. Are your clients located in your local community, globally, online or off-line?
It is necessary to go beyond demographics and to think about the psychographics of the clients you want to buy your goods and services. What kinds of problems do they have? How can you help them solve those problems? When pondering these questions, think about what your ideal client is looking for help with. Then consider how you can teach her or do a task for her.
You need to also consider the kind of learner she is. Is she a kinesthetic, visual, or oral learner? You may need a mix of learning modalities to reach your ideal client.
What is the perfect business model for you?
After considering your entrepreneurial personality type, think about the type of business model that works best for you. Do you want to deal one-on-one with clients on a daily business? Do you prefer to work with clients in a group setting? Will you provide clients with products and services that they can use without your direct involvement? If you plan to be a coach or consultant of any kind, you may want to consider a combination of
(1) one-on-one consulting;
(2) special VIP events; and
(3) information products that produce passive income.
You may find that too much of one type of product or services may overtax your abilities to provide high-quality.
Conclusion/Call to Action
This article has presented you with a powerful approach for a practical business start-up that will result in you launching your business on a solid foundation with a sound business plan. So are you ready to leave your 9-5 job?
Remember to brainstorm the following ideas:
- How will you attract your ideal client?
- Are you building quality into your business start-up?
- What is the perfect business model for you?
Leave us a comment to let us know if we can help you with your business startup.
Pamela Montgomery
I am Pamela Montgomery, attorney, author, speaker, and entrepreneur who helps you create the life of your dreams as you achieve uncommon results in your business and in your life!
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The Latest Guide for a Practical Business Start-up
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The Latest Guide for a Practical Business Start-up
The Latest Guide for a Practical Business Start-up
The latest guide for a practical business start-up gives you 5 crucial steps to follow to get your online business running.
You can assure yourself of a solid business foundation by following the latest guide for a practical business start-up.
You are not required to do anything that we recommend. It is up to you to decide how you want to run your business. However, years of experience has proven to us that it is better to put certain fundamental business structures in place to protect you, your family, and your future. Be sure to consult with a trusted advisor and an attorney as you move forward.
In this episode of My Biz Dream Team: Opportunity Wednesday Training Series we share with you our systematic approach to starting up your on-line business so that you can leave your 9-5 job and start living your entrepreneur dream life.
1. Prepare a Business Plan
Last week we discussed doing research to discover if your business idea is viable and compatible with your business personality. We hope that you took the opportunity to take the entrepreneur assessment test in Harvard Business Review: Assessment: Identify your Entrepreneurial Personality Type
This week we want you to continue researching your business idea. Then write a business plan. The data and research that you have gathered should be enough to start making projections for your business.
Do not be intimidated by a business plan. It is not cast in stone. It does provide you a guide to follow during those crucial early days after start-up. For help in developing a business plan consult with your local economic development authority or the federal small business development centers that are sponsored by the Small Business Administration.
2. Create a Legal Entity for Your Business
Creating a legal entity for your business is an important step in building a solid business foundation. As you decide on the type of legal entity to create for your business think about your business goals and exit strategy. These considerations will help you decide what type of entity is most suitable for your situation.
You should familiarize yourself with the (1) different types of company structures and (2) laws and regulations regarding them. Then choose the best one for your circumstances. Consultation with a business attorney who specializes in this area is always a great idea.
You may decide that a sole proprietorship will work for you. A single owner business is the simplest type of business formation. Just be sure to make an analysis of your risk factors.
You may also want to consider forming a limited liability company or LLC. Over the past 25 years LLCs have been used very broadly and in many different types of circumstances. The state statutes on limited liability companies offer business owners great flexibility. An LLC shares characteristics of a corporation (limited liability) and a sole proprietorship or partnership (pass through taxation).
You need to decide whether you want to go through with the formalities of forming a LLC. If you decide to form a LLC, pay close attention to the provisions of the operating agreement, if you decide to have one. If your operating agreement does not specify what happens in certain situations, you may be subject to the default provisions of the relevant state statute. Also, be sure to ask your attorney about the benefits of a “charging order” as it relates to attacks of creditors on your LLC.
3. Get an Employer Identification Number (EIN) for Your Business
After you have formed your legal entity, then you can get an employer identification number (EIN) from the Internal Revenue Service (IRS) for tax administration. You can apply online for your EIN. This is a free service.
Be sure that you have all the information needed to complete the form when you begin the online application. The online website does not allow you to save the information that you have already entered and return later.
The IRS offers many helpful tools on its website to help you through this process. These tools include a Frequently Asked Questions section and a video. We recommend that you review these tools before beginning the application process.
4. Establish Separate Business Accounts for Banking and PayPal
After you have your EIN, then you can use that it to set up your business banking account. This account should be separate from your personal business account. You should not mix the two. It only causes confusion at tax time.
You then can use your EIN to set up a separate business PayPal account that is linked to your business banking account.
When you have set up those business accounts, be sure that you are tracking your business expenses and income. In the beginning, you may want to track these items yourself. With the help of business software, you can create the various categories of income and expenses and track them. As your business grows you may want to hire a bookkeeper.
When you consult with your attorney about your business entity, ask for a recommendation for an accountant. An accountant is very helpful in giving you advice about the tax consequences of running your business.
5. Plan for a Private Space for Your Office
Plan for a private space for your office. Like many online entrepreneurs, you may start working from home. It is important to set up a separate space to run your business. If you are working at home, being able to close your door trains your family to know that you are working when you are in your office.
At first you may not be able to have a separate home office. We know people who started with a laptop on their deck. But eventually, you will want a private and separate space for your business. You will want a place where you can record your videos, podcasts, and webinars that is free of distractions.
There are also tax consequences for using a dedicated space in your home for your business office. Check with your accountant about this matter.
Conclusion/Call to Action
The latest guide for a practical start-up gives you 5 crucial steps to follow to get your online business running. Following this guide will help insure that your online business is fundamentally sound and has a solid foundation.
Remember to follow these 5 steps from the latest guide for a practical start-up:
- Prepare a Business Plan
- Create a Legal Entity for Your Business
- Get an Employer Identification Number (EIN) from the IRS
- Establish Separate Business Accounts for Banking and PayPal
- Plan for a Private Space for Your Office
Click here to get a the latest guide for a practical start-up checklist. We mentioned this checklist on the podcast.
If you like what we have to say on this topic follow us.
I am Pamela Montgomery, the attorney, author, and online business strategist working with entrepreneurs, speakers, and authors as they create the lives of their dreams and achieve uncommon results.
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Finding the Highest Best Purpose for Your Life
Finding the Highest Best Purpose for Your Life
Finding the Highest Best Purpose for Your Life
Finding the highest best purpose for your life sounds like a daunting task. Why would you even bother? Because you may be one of those persons who has dutifully done everything that you were told to do. You got good grades, a good education, and a good job. But now you feel like you are “living for the weekend.”
Where is the satisfaction, passion, and fun in your life and career?
I felt that way after many years working in a job that no longer challenged me or gave me joy. I had stayed there too long.
Like me, you may be thinking about leaving your 9-5 job. You may wonder “what do I do next.” This article will discuss the first step that you can take that will lead you to finding the highest purpose for your life.
Imagine If…
Start by brainstorming what you would love to do, if money were no object. You have enough money to cover your expenses and some left over for fun. This is a list of possibilities. Do not filter yourself.
How would you spend your days, if you had the freedom to spend your days any way you wanted to?
Would you:
- Shop?
- Paint glorious watercolors?
- Go back to college and earn a degree in art history?
- Travel the world?
- Rescue animals?
- Work with abused women?
- Plant a garden?
If you get stuck, think about what you do on weekends and holidays. Nearly everyone looks forward to relaxing and enjoying their favorite activities after the workweek is done. What are the activities you most enjoy?
The purpose of this exercise is not to make a realistic list of business opportunities, but rather to make a list of possibilities, so do not censor yourself. Write down whatever pops into your head without considering if you can make money with it, whether you will love it forever, or even if you have the skills or talent for it.
That is, after all, what brainstorming is all about. Unfiltered ideas. We will sort them out later.
Conclusion/Call to Action
Take this exercise seriously. This is the first step to finding your highest best purpose for your life. During the next few days, I will share with you a few other actions that you can take to help bring you clarity about your purpose.
Leave us comment.
I am Pamela Montgomery, the attorney, author, speaker, and online business strategist who delivers result-oriented solutions to entrepreneurs, speakers, and authors!
Pamela Montgomery
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What Happens When You Leave Your 9-5 Job: The Best Steps for a Solid Foundation
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What Happens When You Leave Your 9-5 Job
What Happens When You Leave Your 9-5 Job: The Best Steps for a Solid Foundation
What happens when you leave your 9-5 job? It can be scary and overwhelming to think about leaving your job. But with the right mindset and a smart plan, it does not have to be. In this podcast and article, we give you a 3- step process that will help you build a solid business foundation. Following this process will give you a better idea of what happens when you leave your 9-5 job.
Step 1: Does Your Business Idea Excite You?
Does your business idea excite you? Is it something that you will eagerly jump out of the bed and commit to doing for the next year? Your business idea does not have to be a grand passion. But you do need to have a feeling of anticipation and a thrill for trying this new challenge. If your business idea does not excite you, go back to the drawing board!
Step 2: Does Your Personality Mesh with Your Business Idea?
Being an entrepreneur is more than being someone who is an expert in a skill or topic. You must be someone who does several things to significantly impact your client.
For example, will you:
· Transform and clarify your clients’ understanding of something they are currently doing
· Help clients’ see the “why” behind the “how”
· Share your clients’ excitement over their success.
Whatever you decide to offer your clients must be aligned with your core beliefs and personal values. Does your business idea allow you to be authentic?
You must believe that your solution to your clients’ problems will make the world a better place. Because you are the perfect person to supply the solution to their problems!
To help you understand your entrepreneurial personality, take this quick assessment from Harvard Business Review: “Assessment: Identify Your Entrepreneurial Personality Type.”
Step 3: Is this the Right time to Launch Your Business?
Timing is always a tricky question. You wonder whether you should you quit your 9-5 job now or ease into your business gradually. Dexter and I started our business while working full-time. That worked for us. You should make an individualized assessment of your situation. Then you can decide whether to quit now or to ease into your business gradually.
Here are a few issues to consider:
· Is there a paying market for your business idea? If you and your brother are the only two people interested in this idea, you may want to find something else.
· Do you have adequate start-up capital? You do not need a million dollars in your bank account. Countless numbers of entrepreneurs have started a business on a shoestring out of their garage or dorm room. It does help to have some savings and budget that you plan to follow.
· Is your niche narrow enough? Remember you want some competition, but not too much. If “weight loss” is your niche, it is probably too big. But if you target “vegans” that specific small segment you probably can serve.
· Is your business idea one that is sustainable and scalable? For example, once you teach them how to solve one small problem, are there issues that you can teach them? Is there a next step? Can you create multiple products and services?
· Have you done your research? Make sure to check on Amazon for any books on your specific topic. Look in grocery stores to see if there are magazines on the subject. What are the leaders in your niche doing to serve their clients?
· Do you have any clients lined up? It would be fabulous if you had a waiting list for your products or services.
· Have you tested your idea? Perhaps you want to share your new products or services with special group of “beta” testers. Perhaps for a reduced fee, they can give you feedback.
· Do you already have credentials or experience that instantly qualifies you as an expert? Are you already doing it or teaching it already? Do you have a strong network of connections?
Take your time to think through these issues. Do not act impulsively. Really dig deep and then decide.
Leaving you 9-5 job can be an exhilarating time in your life. It is the first step in achieving your goal of creating the life of your dreams.
Conclusion/Call to Action
What happens when you leave your 9-5 job? With the right plan and a strong mindset you can deal with the feelings of uncertainty and overwhelm. This article sets forth a 3-step process to help you build a solid business foundation.
Step 1: Does your business idea excite you.
Step 2: Does your personality mesh with your business idea?
Step 3: Is this the right time to launch your business?
Let us know if you are ready to leave your 9-5 job. Contact us to help you develop a plan to launch your business idea and put you on the strategic pathway to success.
I am Pamela Montgomery, an attorney, author, and online business strategist working with entrepreneurs, speakers, and authors as they create the life of their dreams and achieve uncommon results!
