Create a Business You Love
by: Damien Senn

So you have entrepreneurial aspirations, but you’re stuck in a job working for someone else. You wake up, commute to work, work hard, pay your bills and then come home exhausted. You repeat the pattern for another four days, becoming increasingly tired as the week progresses. By the time Friday night comes around you are absolutely shattered requiring every second of your weekend just to recover! And just as you start to feel as if you have your life back, your alarm clock goes off on Monday morning, you drag your feet out of bed and you repeat the cycle. Does this scenario sound all too familiar? Is this the way you want to spend the rest of your working life?

Controlling your thoughts

So how do you start to break this monotonous existence? You do so with a single thought. It is said that each one of us has 60,000 thoughts a day, 55,000 of which were exactly the same thoughts as we had yesterday. So I am going to place a simple thought in your mind right now.

“ You have the potential to create a profitable business that you are truly passionate about, that fulfils you creatively and that delivers a lot of good in the world. “

If that message resonates with you, you may like to re-read it and hold the thought in your mind for a second time. Really try and experience the meaning in this message. Not just intellectually but emotionally as well. You may also like re-think this thought again tomorrow. And if it feels good tomorrow, you may like to add it to your habitual thoughts.

Give your new thought some support

Once you have held the thought of running your own business in your own mind and you are comfortable with it, you need to start expanding the dynamics of the thought. Ask yourself the following questions

* What sort of business would you like to run?
* Would it be a full time business or just a part time one?
* What would you call it?
* How much time would you like to devote to it?
* Who would be your target market?
* Who can you get involved to help you get it started?

Take some action

Once you have a few answers for the questions above, you’ve got to take some action straight away! Start off small. Get some business cards printed up (vistaprint.co.uk will give you 250 colour business cards for free!) and you may also like to register a web site domain name (you can register web names from as little as £2.59 per year through 123-reg.com). Once you’ve got the ball rolling you can start thinking about the bigger action steps that you will need to take.

Seek out other business people

Take a look at your social network. If all your friends and family are employees, chance are any conversations about work will be about the 9-5 grind. If this is the case, start adding a few small business people to your social network. Buy them lunch, ask them questions about how they started out in business. I am sure that you will find plenty of inspiration as well as some words of advice about how to run a business. You may also like to consider joining up with groups so you can network with like minded individuals (Toastmasters is excellent start and for online Networking check out ecademy.com)

The most important consideration

One of the most important things to consider when setting up a business is to choose a business that you are passionate about. There are so many different ways you can make money so you might as well do something that excites you.

About The Author

Damien Senn is a Life and Business Coach as well as a fully qualified Chartered Accountant. He helps professionals, artists and entrepreneurs create compelling futures.

He is the author of the ‘Senn-Sational Success Journal’ and has developed his own coaching model called the ‘Senn-Sational Success System’.

For more information see www.senn-sational.com or email support@senn-sational.com.

damien@senn-sational.com

Make Money In Your Own Coffee Business

A 2001 survey by the National Coffee Association indicated that over 100 million people drink coffee on a daily basis and that nearly 60 million more occasionally consume coffee. Based on average drinking habits, the daily coffee drinker will consume multiple cups per day – totalling hundreds of millions cups of coffee being consumed every 24 hours.

Such enormous consumer demand coupled with the growing trend toward gourmet coffee presents an opportunity for the enterprising coffee lovers to take their double shots at generating income while working in an industry which makes their coffee passions percolate.

Coffee-loving entrepreneurs can choose from a wide range of opportunities available to find ones that best matches their tastes. Interested in starting small? Start with a couple machines and a cart. More grande ambitions? Consider a coffee shop franchise.

The Specialty Coffee Association of America’s “Market Report” forecasts that the number of coffeehouses in the U.S. will grow to 15,000 by the year 2006. Will one of those coffeehouses be yours?

You can take a couple different paths can to starting your own coffee themed business. One option is to buy the equipment and supplies yourself, building your own identity and business systems. The other option is to purchase a franchise and benefit from their proven image, proven systems, and established supply chains. Let’s look at some examples of coffee related businesses that you could start for yourself.

If you choose the independent route you can use a wholesaler such as Mr. Churro’s to help get you started. Mr. Churro’s is Miami-based wholesaler of professional grade machines for making espresso, coffee, and hot chocolate. Beyond acquiring equipment from Mr. Churro’s you would need to work out other details of your business details on your own. For example, you would need to find a coffee bean supplier, find a suitable business location, and also learn how to run a coffee business.

For a more turn-key type of operation, The Coffee Beanery, a global franchise based in Michigan, provides franchisees with a wide menu of coffee based drinks as well as an attractive breakfast and lunch menus. The franchisee benefits from a proven image, a proven menu, a fully developed method of operation, and an established supply chain. It might cost more to purchase a franchise, but if you are new to business, the long term benefits might outweigh the short term higher startup costs.

Coffee News USA is a third type of coffee related business opportunity. Unlike the previous two examples, Coffee News USA does not involve making and selling coffee beverages. Instead, Coffee News is publishing opportunity in which the franchisee provides a free local edition of the weekly Coffee News newspaper to restaurants and coffee shops. The franchisor provides most of the content, and the franchisee sells advertisements to generate income.

These three business opportunities a just a few of the coffee related businesses that are available for coffee lovers. Most of the other opportunities are franchises, but not all franchises are created equal. Examining each business opportunity carefully can bring to light some important differences that might lead you to an opportunity that is better suited to you than another.

With over 300 million cups of coffee being consumed daily in the US, a coffee-related business opportunity should be a strong consideration for the enterprising coffee lover. Contact information for Mr. Churro’s, The Coffee Beanery, Coffee News USA, and more than 400 other specific business opportunities is available in the eBook, “Mind Your Business 101: How to Select & Start Your Own Business,” for only $16.98 USD at www.LinkertonPublishing.com.

About the Author

C.S. Deam is a small business owner. His eBook Leverage Yourself Out of the Rat Race is available for immediate download at http://www.LinkertonPublishing.com where you can sign up for FREE E-Courses & Newsletters to help you on your path to self-employment.

Four Steps to Entrepreneurship

As more and more people start or consider starting their own business, it is important that they understand the core steps that are required to launch successful ventures. These steps include spotting, assessing, selecting and executing upon opportunities.

Spotting Opportunities

The first step to entrepreneurship is identifying opportunities. The entrepreneur must be able to spot an unmet need. Oftentimes this need is seen through an inefficiency in the market – something that doesn’t work quite the way the entrepreneur would like it to. As a result, the entrepreneur figures out a potential solution and the opportunity is born.

Assessing Opportunities

Many entrepreneurs keep a journal that details the myriad opportunities they come across each day. While it takes a creative skill set to identify opportunities, it takes an analytical skill set to assess them. Each opportunity should be assessed to, among others, determine its likelihood of success and the financial and human resources required to execute upon it.

Selecting Opportunities

One of the biggest risks in selecting the wrong opportunity is opportunity cost; that is, the cost of having to forego another opportunity which may have been wildly successful. Entrepreneurs should assess their potential opportunities and come to a firm decision regarding which one to execute upon. Once selected, the entrepreneur cannot second guess themselves. To do so would lessen their focus and drive towards the selected opportunity, both of which are critical in achieving success.

Executing Upon Opportunities

Execution, or the ability to generate the most value out of an opportunity, requires a unique combination of creativity, passion, persistence, focus, responsibility, intelligence, planning and energy. The entrepreneur needs to know what tasks must be accomplished and be the main driver in seeing that these tasks are completed in an appropriate manner.

Understanding the four steps to entrepreneurship enables entrepreneurs to better understand the path that they are embarking upon. It is a path filled with potential pitfalls, but also filled with tremendous excitement, satisfaction and potential to build enormous value.

Since its inception, Growthink Professional Business Plans has developed over 200 business plans. Growthink clients have collectively raised over $750 million in financing, launched numerous new product and service lines and gained competitive advantage and market share. Growthink has become the firm of choice for venture capital firms, angel investors, corporations and entrepreneurs in the know. For more information please visit www.growthink.com or visit our venture capital placement site at GTS Venture Capital.