Forums: Discussions for entrepreneurs and small business.

I have got myself into a big dilemma, Can anybody out there help me?

I love cars, and real estate! But I don`t know which business should I go into? Can somebody help me regain my focus?

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-Piarte-
"Consisteny surely takes over talent"

You are fortunate to have 2 passions.  I think with a little soul searching and maybe some questions from your fellow SuNnies you can answer that question yourself.  What aspect of cars do you like?  Do you like working on them, buying them, driving them, selling them?  What are you good at and what would you want to do in the "car business".  What about real estate?  Again, do you like buying, do you like selling, do you like renovating, do you like developing?  What are you good at with regards to real estate and what would you like to do in the "real estate business"?  Now is there a market for the answer to the above questions?

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Leslie
Founder and President
Charmed Life Products LLC
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How about selling broken-down cars to homeless people so they have a place to live?
............JUHHHSsst kidding!!! :-D

One idea would be to put together a sort of quick business outline. Not really a business plan, but set down on paper two different "scenarios."

For example, you know it`ll take X amount of time to get a real estate license. Then it`ll take Y amount of time and money to build a clientele and business. Additionally we`re enering into what many people suggest is a bit of a slump.

On the other hand, what would you do with cars? Are you thinking repairs, sales, dealership, antiques, customizing? How long would it take, and what would be your investment.

As you work on these two scenarios, putting actual milestones, costs, and income projections, you`re going to "tighten up" your thinking. You`ll begin to use your imagination in a specific area, and I`d bet you`ll start to get some interesting inspirations as to how you might combine the two.

Just off the top of my head, you might end up as a real-estate broker who specializes in finding locations for entrepreneurial auto mechanics. With enough money from the brokerage, you could also become a partial investor in some of these businesses, and so forth. There`s gotta be lots of other ways to join these two interests....so if you`re thinking and writing, planning and projecting, I`m guessing some of those ideas will come to you. :-)

From everything I have been reading if one wants to grow a successful, scalable business it has to be able to run without them. Start one but design it in a way that you can be separate from it so when you want to be hands on in the business you can be, but if you are focused on the other it won`t miss you. That way it will also prepare you for when you need to not be involved and have a lot more people involved running the business or if you franchise it out.

The greatest tip I have received so far on this board and in the books I have read that really grounded me was that your business should not rely on your skills, while it is initially created by them it should not rely on them. Some may or may not agree with me, but that is for your to research and decide.

I think I have recieved some great insight! Expecially, from nGenuity !!!

Bye

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-Piarte-
"Consisteny surely takes over talent"