Even though I was 2 years into my business when I read these steps, this particular step was a light switch for me and put into words what I was struggling to define for myself.   I had the business plan - rule the scrapbook universe   But it didn't seem to fit with my life plan (be a stay at home mom FIRST).  I put the life plan first and it enabled me to let go of the nagging thoughts that I HAD to rule the scrapbook universe.  No, I can't attend every trade show and I can't fly all over the country to consumer scrapbook shows every weekend.  Not that I had done that, but I felt conflicted about it.  I felt it was important to do SOME of that, but then, my family was more important.  I was sitting on a Southwest Airlines flight from Seattle to Vegas on my way to a trade show and I swear the whole cabin lit up when the "Ah HA!" moment happened. 

Now I have a better handle on what I will and won't do to grow my business.  And, if it involves inconveniencing my family too much, then I let it go and find another less-intrusive way to accomplish what I need to do. 

I can't tell you how many women with very small children run out and open a retail scrapbook store with the thought that they can be home with their kids and run a retail store almost singlehandedly.  If the life plan and the business plan don't connect like a puzzle, then one of them needs an adjustment and it's probably the business plan. 

~Kim

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I couldn't agree more. Most people will succeed with a lot less effort if they choose a business that works within their family structure. Even if you don't have a family, a business that works well with the rest of your life will be much more enjoyable.

I find myself going back to the 10 Steps over and over - even now that I have begun creating my business - to make sure I stay on track. Creating your life first is where is all begins.

I'm a big fan of writing a life plan and identifying your talents.  There's this idea floating around in your head, but do you possess the skills to make it work?  I really think this is crucial for those just starting out on Entrepreneurial Way.

Seeing my talents and goals written down in black and white was extremely motivating.  The "hey, I can do this and this ________ is what I'm doing" moment.  Of course it also helps to list out your weaknesses so you learn that you shouldn't do your own accounting

Think outside the box.  Just because it's a business doesn't mean it needs to be full time.

Internet Businesses are great because they are time-flexible.  Your website can do all the work while you're still working a day job.  You answer emails in the evenings and weekends.

Then, once the business surpasses the income from your day job you'll get tons of free time and money.  I think that's the holy grail for most people.

Internet Businesses tend to offer very little risk since they usually won't cost much money to start.  You can grow into them.

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My recommendation would be to have a CLEAR life plan before taking on investors (and to discuss this with your investor - BEFOREHAND).  Investors tend to want to reduce the "risk" in their investments, which is a natural tendency any of us would be inclined to do, but when YOU are their investment, problems arise - that often conflict with your life plan.  You may think your wonderful mother could nag you as a child?  Investors seem to have a skill with ways to get people to work harder and feel guilty about doing anything except working on reducing the risk of their investment.  If you thought entrepreneurship was your ship to freedom, then before your dream turns into a slave-ship nightmare, discuss and negotiate your life plan with your investor - and then STICK TO IT! 

I have to admit...this was one of the most crucial steps for me...but it was not an easy one. I am an idea person...BIG IDEAS...no idea what to do with them! I get the BIG PICTURE...all the details tend to escape me. So when asked about different aspects about where I see my ideal life...WOW...the ideas were flowing...but to get them into detail and workable...that was tougher than I thought it would be. I actually started by listing my weaknesses...the things I wasn't able to bring to the table to make my dream happen. THEN once I had weeded all that stuff out...it was much easier to focus on the things that I COULD bring to the table...and work on finding people to network with to strengthen the weaknesses. I really don't think I would be as far as I am right now in my startup without first stopping and going through this process with myself! It was truly enlightening.

I really don't know that I could improve on this step...I think it was a wonderful step for me!