: Charles M. Alexander
: Live in Entrepreneurial Freedom The How to Guide for Aspiring Midlife Business Owners
: BookBaby
: 9781543959697
: 1
: CHF 10.50
:
: Management
: English
: 220
: kein Kopierschutz
: PC/MAC/eReader/Tablet
: ePUB
A growing U.S. middle age population combined with the lasting financial realities of the 2008 Recession have caused many Americans to re-think their 'retirement' plans. Live in Entrepreneurial Freedom digs into the psychological challenges someone in their 40's, 50's or even 60's face when starting their first business and helps them understand why their 'Maturity of Thought' is the very best weapon they have toward achieving greater success than most others. A real world, down to earth approach peppered with intimate personal stories from the author not only make for a great read but also helps the reader make very challenging questions and concerns a little easier to answer and digest. By the end of this book you should know, with great certainty, if starting a business is the right thing for you.

Chapter 2

Step One: How to Clearly Define Your Vision of Success

Beat the odds by following the correctpath.

Anyone who’s seriously researched starting their own business knows there is an endless stream of negative information regarding the failure rates of first-time businesses, published by a variety of sources, many of whom you’ve never heard of. However, the most reliable (and best known) of these is the U.S. Census Bureau. According to the U.S. Department of Labor, approximately 50 percent of business start-ups will fail by year five, and approximately 66 percent will fail by year ten (https://www.bls.gov/bdm/entrepreneurship/entrepreneurship.htm). It is not my intention to challenge that information because it is, in fact, correct. However, to challenge its very foundation and the reasons why it does not have to be that way;that is what I will discusshere.

This book is for people in mid-life who, for numerous reasons, want or need to operate their own business venture. Perhaps they are looking to pursue a lifelong dream of being their own boss, or want to take up a socially responsible endeavor and need to make some money to help support it. Or maybe they believe they have a product or service that is far above all others and feel it could be the next great thing. Most purported experts, when talking about starting a business, do not specifically address how or where to actually begin. Oftentimes, this is because they have not experienced running a business for themselves, hands on, and/or have not analyzed it carefully. The most frequent question I get is, “Hey, I’m thinking about starting a business; should I form an S Corporation or an LLC?” That is a strong indication to me that the person has not delved into what I call “the four W’s.”

THE 4 W’S OF SUCCESS

The four W’s are Why, What, When, and Where. Now, at first glance, these may seem to you like simple questions with self-evident answers. However, you might be amazed to learn that most first-time entrepreneurs have never thought through these questions to the point of finding their true, deep answers. It is the answers to these questions that will literally form the foundation upon which you build your business, and they can therefore ultimately determine your success orfailure.

The First W… “Why.”

Let’s start with “Why.” Quite simply,why are you doingthis?

This article is a great place to start …

This Is the Most Impo