The Next Generation: The Next Step to Getting out of the 9-to-5 Grind

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I chatted recently with a woman who was desperate to start her own shop. She had a big hurdle to overcome first, her credit card debt. Starting a business is hard enough without having to worry about paying off personal debt. Take care of that problem first.

If you are frustrated with your job and just want relief, launching your own shop is not the answer. Contrary to all the promotional material about how you will be earning great gobs of money shortly if you work out of your home, nothing could be farther from the truth. Earning that kind of money takes time and a lot of hard work.

DO NOT jump into starting a business because you want a change from your current drudge; otherwise known as a 9-to-5 job. There is only one thing that will happen: disaster.

If you are thinking about launching because you can't stand your boss, then simply change jobs. Everyone is not cut out to be an entrepreneur. I attended a seminar given years ago by SCORE. The speaker went around the room asking what was the reason people should start their own business. The answers ranged from hating bosses to wanting to be the one in charge. My answer was the only he agreed with: profit.

If you can't get focused on that as a motivator, then continue your life as an employee. It might mean that you change careers or going job hunting again before you can feel as if this is a good fit. But, stay a worker if you don't feel inspired by my words to launch your own baby.

Getting ready
Continue on with the plan I mentioned previously on getting more cash in hand. Find out from a tax expert the maximum amount of dependents you can declare before you will be either in hot water or on the suspicious list with the IRS.

Get that sideline going so you can have bigger tax refunds and some petty cash in hand. This sideline does not have to be something you want to grab on to permanently. It is only a means to an end.

Do whatever it takes to get your credit card debt down to a minimum. Make sure those required payments are well within your monthly budget. When money starts coming in from your business, you want logic to dictate what you do with that income, not worries from the credit card folks.
You need to find your passion You don't want to launch a business because it is something you already know and you have a ho hum feeling a bout it. You need to be honest with yourself and write down a list of things which interest you so much you get a smile on your face as your picture yourself running a business based on this idea.

It could very well be that you don't know enough about a particular field to feel you could plan a business based on it. There are books, self-study courses and there are always business people who wouldn't mind a volunteer coming in to help and learn at the same time. Don't expect to find the answer immediately. And, it doesn't matter if you change your mind.

Examine your interests, start putting money aside and keep cool while you still have to go to work. Make a plan on how long it might be before you can start writing your business plan. Making a plan is the first step to being an independent business owner.

Laura Bell is Freelance Writer and owner of www.bellbusinessreport.com. The Bell Business Report offers common sense business advice and how-to info for running your business. It takes the everyday headlines apart, dealing with business news, and shows you how to put that information to work for you.

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