Forums: Discussions for entrepreneurs and small business.

Kim:

I`m no expert, but I think it would be prudent to be very careful in this economy. While there are always good opportunities for new business, consumer confidence and spending are definitely down.

More than ever, it would pay to complete a thorough business plan.

Good luck!



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If you have an unusual or very attractive product, any time is the right time to start a business. But I have to wonder how many clothing boutiques are already out there? What would make your boutique different and attractive enough that people would feel the Just Have To Shop there? That`s the key, whether it`s a brick-and-mortar store, or an ecommerce business.

If you do decide to go with it nowadays, then focus on people earning more than $200,000 annually (single or couple). They`re not in trouble at all, really, and will still be looking for interesting new places to shop.

Kim,

I was speaking with Ric Willmot about this issue not so long ago when one of my clients asked me the very same question.

I would recommend you go to his website (www.executivewisdom.com) and on the free articles section he has some stuff you should read.

1. Chefs psychiatrists and bank robbers
2. Porsche paradox

Two very good articles that will help you consider you options.

Peter

"...own the road from Lincolns New Salem State Park.  I see it as very do-able."

:-D It seems you`ve made up your mind, and now you`re just experiencing the classic fears and anxieties of the inspired entrepreneur. EVERYbody who starts out on their own is afraid. The thing about fear, though, is that it doesn`t exist in its own right.

Because fear is a "nothingness"---a "lack" of certainty---the mind has a great way of filling the vacuum: It goes through your life experience and finds whatever seems like a logical explanation and cause for that fear. In this instance, at this time, what worries you most is recession, economic downturns, and whatever else is on the news.

And so you fill the void of fear with what "seems like" the most true reasoning why you shouldn`t take the risk, shouldn`t leave security, and shouldn`t rock the boat. See?

So the *real* question is: "Do you want to start a business of your own? If so, how much do you want it?" :-)

Hi Craig and thanks again.  I want it really bad, I guess I just need to get over it and do something about it. 

Zackly....! And when you get anxious, here`s a forum where everyone else is dealing with the same anxieties. So you`re not on your own, right?