Ambition is a wonderful thing, and it can start at an early age. It may initially be labeled daydreaming, but there’s nothing wrong with that.
There is an established business technique called blue sky thinking which is essentially organized daydreaming, and it is a way of allowing random thoughts to be examined, rather than dismissed out of hand.
This can be done solo or in a group, but it must be serious and productive; you can’t just be gazing out the window, thinking about the girl next door, or what you’re going to have for dinner.
If you are daydreaming about your future and you see it as being a small business owner, here are some points to think about.
Learn Your Subject
Small businesses normally have a very focused field of activity, and some of it can be learned on the job, but in most cases there is a lot to be said for studying it more closely, going into the history and the development of whatever it is, so you can see why things are done, how they can be done better and what can go wrong if they’re not done in a certain way.
Having this level of knowledge combined with the right small business tools can give you the edge over competitors who only know one way, while you can see the bigger picture.
Having gained this knowledge, you may choose to join an established business and contribute your new ideas while absorbing some wisdom from people who’ve been hands-on in this field for years.
Youth and experience can be a great combination, and when you move on and start on your own, you will have the practical know-how to put the theory into practice.
Getting A Good Education: How To Fund A College Course
Education in a formal sense continues after high school with the college years. The study becomes more specialized and can seem more relevant than the earlier practice of being fed information that may or may not find a useful place in your life.
But college education doesn’t come free of charge. The issue of funding faces all prospective students, and a student loan is the common answer.
This will give you the funds you need to live while you study, paying rent and buying food, not to mention books and whatever else your study needs.
Private student loans involve talking to a financial institution and asking them to provide the finance on the understanding that you will pay it off when you start working after graduation.
Right Time, Right Place
Serendipity is a nice word that means good fortune, discovering something by chance or landing on your feet.
It is something that can happen to anyone, but obviously it can’t be relied upon, so the serious businessperson gets some research and planning done.
Where would be a good place for you to start this venture? Is there a demand for it that exceeds the current supply?
Will people recognize a good thing when they see it and come to you rather than someone else?
Crucially, is your idea in keeping with the times, ahead of its time, or behind the times? It’s important to be honest with yourself.
Why Are You Doing This?
It’s a key question because if your business is going to be your life, it should be satisfying. Are you doing it because it’s a subject that fascinates you, or because you’re good at it?
Or is your prime motivation the fact that it could be lucrative? All three are perfectly valid, but it’s important to be aware that enjoying your work and getting rich are not necessarily linked.
Your small business may not be as small as having a cobbler’s shack in a back street; you may be in a much more sophisticated line, with half a dozen employees and everyone making a good living, but it’s not a corporate body and you stay in touch with your customers.
If you wanted to be a middle manager in a bigger enterprise, you would be doing that. But your small business is just that: yours.
Want To Sell It On?
Some people make a good living by starting a venture and growing it to the point where a bigger operator sees them as a threat or a potential money-spinner and buys them out.
So, they build the business up and sell it, before using the profit to start something else and do it all over again.
Perhaps it’s the challenge that gets you out of bed in the morning, the process of building a business rather than coasting along through the years. In that case, you could find yourself being labelled an entrepreneur.