Every indicator tells us that well paying jobs are going to diminish in 2014. In 2009, 40 million Americans were living on sub-standard income, and most of the safety nets have disappeared. Although there is a lot of talk about raising minimum wages, they still don't come up to the standards set for living as a member of the middle class.
There is no question that one of the best answers is to have more entrepreneurs producing products and services that create higher income for them, jobs for others, a better standard of living and a more prosperous economy for our nation.
Over the past several years, I have made a substantial effort through my books and personal appearances to bring more people into the entrepreneurial pool. I want to better educate entrepreneurs by giving them an improved chance for success through proven methods and ideas.
People always ask me why I expend so much energy at the age of 90. After thinking about this, I realize that I have never been able to sit on the sidelines and observe. For the past seven decades, I have built a history of successful businesses that have created jobs and profits. This effort can only be effective if it inspires people to start their own businesses and become the masters of their own fate.
It is very possible that many people never consider starting their own company as a viable option to getting a job. In order to succeed, there must be a passion for what you do. I am convinced that there is a large population of people who do not realize that they have the ability to become entrepreneurs.
The truth is, there are 1.3 million people who have lost their unemployment insurance after being unemployed for more than one year. Many millions of our workforce have to settle for minimum wage jobs, which cannot sustain an individual or a family. Then too, there are millions of people who are employed in jobs they don't love, feeling there are no other options. On the other side, however, there are many entrepreneurial opportunities, but you must open your eyes and mind to realize they are right in front of you.
I always felt that my greatest good fortune was that I was born in the United States, which is truly the land of opportunity. Here is a simple five step method I created that will give you a better chance to succeed.
Step One: Identify a Business Idea you Love
What is it that you really love to do? When you have your answer, you must then consider whether you can turn what you love to do, into a business.
Step Two: Ask the Right Questions as You Research.
If you're excited about your idea, chances are good that someone has thought of it before you. Don't be discouraged, but make sure you research what they did, how they did it and how you can do it better.
Step Three: Plan a Deal and Focus on the Details
What tools are available to expedite your plan? How will you make the best use of them? How will you transition from proposing a deal to making a concrete business plan? Remember, the business plan has to tell you not only how to execute the deal, but how to do it profitably.
Step Four: Fulfill Your Agreement and Then Some
You must keep your ego out of it, and make changes in accordance with the unanticipated conditions that present themselves. Never stop thinking of how you can improve your deal. In entering any new venture, always hope for the best, but prepare for the worst.
Step Five: Review the Results for Next Time
As your business plan reaches its conclusion, it's time to take stock. Think about this entire experience, so that you can build on it to create your next deal. You must never stop thinking creatively. Be prepared to add and subtract from your original plan. The more you evaluate through a critical lens, the more you will be able to spot the adjustments and corrections you need to make.
My five step method sounds very simple (more completely elaborated on in my book, The Evolution of an Entrepreneur) but it will help you create the kind of deal that works.
Once you have made the transition, you will have gained that special independence that only people who are legitimate entrepreneurs acquire. You will have gained a sophistication and capability that you did not have before.
Success breeds success!
What is it that you really love to do? When you have your answer, you must then consider whether you can turn what you love to do, into a business.
Jack Nadel is the author of the award-winning book, The Evolution of an Entrepreneur: 50 of My Best Tips for Surviving and Thriving in Business (www.JackNadel.com). For this book, Jack was winner of the 2013 Annual Global Ebook Awards, which included three Gold Awards for Best in Business, Leadership and Careers/Employment, and Two Silver Awards for Advertising/Marketing/Sales and Best EBook Trailer. He is the founder and chairman emeritus of Jack Nadel International, a global leader in the specialty advertising and marketing industry; and more than a dozen companies worldwide. E-mail: Jack(at)JackNadel(dot)com.