The start of a new year gets many people thinking about the things they want to achieve in the coming months. Whether it’s something small, like finally filling those empty picture frames (guilty!), or something bigger, like dropping those extra pounds (also guilty!), goals and aspirations give us a chance to look at where we are and where we want to go.
One common theme in new year’s resolutions is money: making more, saving more, and using it to really fulfill your dreams.
As people begin to think about ways to help grow their income and change their life, they often contemplate entrepreneurship. Having your own business is a great way to earn additional income while having flexible hours and working conditions that work for your life.
Being an entrepreneur isn’t for everyone. But, it might be for you! Here are three big questions to ask yourself as you decide if entrepreneurship might be a good path for you to take this year.
How much time do I have?
New businesses, even small ones, take time to establish and grow. Organization, marketing, and training can be taxing and time-consuming, not to mention the time spent providing your goods or services to your customers.Before you jump into a new business, be honest with yourself about the amount of time you have to devote to it. Will this be your full-time job and your family’s livelihood? Or is this a small venture meant to give you some extra spending money? Knowing how much time you have to commit to your business is important before you start. If you don’t have the time to make your business successful, you may want to reconsider.
Some businesses, of course, can be easier than others. If you are establishing a relationship marketing business, for example, a good amount of the work is already done for you. Sales infrastructure, product pricing, packaging, and marketing materials are ready from day one. Extensive training from corporate level leaders and other successful entrepreneurs, will also make starting a whole lot simpler.
What will my investment look like?
Chances are, your business is going to require a substantial investment before it’s profitable. You’ll put in a good amount of time and money setting up your brand, your processes, and your clientele. Make sure you’re able and willing to make these investments. The truth is, if you work hard and smart, your investments can pay off—big time. But you should still make sure that your lifestyle won’t be affected negatively by the effort and resources required to start a business.Once again, a relationship marketing approach is your friend here. If you’re with the right company, your start-up costs may be low. You won’t have to keep inventory or worry about shipping; you won’t have employees or a payroll to manage. Instead, your small investment will allow you to start a flexible, in-home business that can work with your life.
How big do I want this to be?
One of the best things about owning your own business is that you’re completely in charge of your own destiny.Based on your level of effort, you get to decide how much you want to earn, how much you want to grow, and how much you want to succeed. The fact is, not all businesses are going to grow to be huge, and that’s okay. If all you’re looking for is a way to develop a talent, share a gift, make a small supplemental income, or grow your savings, you can make that happen.
Of course, if you don’t want to stop there, you don’t have to. With hard work and…well, more hard work…you can make your business extremely successful.
In a relationship marketing business, you already have the built-in support of a larger company. Growth is easier to manage and it can work entirely in your favor. Many entrepreneurs in the relationship marketing space have the opportunity to earn additional income which then allows them to invest more in their business and promote further growth. If a big business is your dream, don’t count out a relationship marketing business—keeping in mind that your success depends on your skills and the personal effort you put into your business.
Asking yourself these questions will help to provide insight as to whether being an entrepreneur is right for you, your family, and your lifestyle.
As you consider all options, including relationship marketing companies, you’ll hopefully find a business opportunity that allows you to thrive, grow, and succeed, making your goals for this year—and every year—become incredible realities.
*Plexus makes no guarantees on income, as such representations may be misleading. Your success depends on your effort, commitment, skill and leadership abilities, and how effectively you exercise those qualities. For information regarding the earnings that Plexus Ambassadors can make under the Plexus Compensation Plan, please see the Plexus Annual Income Disclosure Statement.
