1. Identify Your JOY Factor
Your JOY factor is the things in life that bring you the most happiness. People who are successful in business created something from what they enjoy doing. Facebook’s CEO, Mark_Zuckerberg is a great example! Success is deeply rooted in your talents, skills and hobbies. It can also come from learning to be the BEST at a specific skill, profession or talent. Make a list of 10 positive things you love to do; include your talents and hobbies. Then, make a list to 5 things you enjoy so much you cannot live without doing them. Narrow your list to 2 things you would do if you had all the money in the world. Develop your JOY factor by investing in your talent. Once you find out what brings you the most joy, you will be able to identify the type of business you want to start.
2. Seek Advice
Seeking the right advice can save you time and money. Reach out to a trusted person who is an expert in an area of business that you are interested in learning more about. Interview successful business owners to learn about their experience. Get feedback about how to you can make your business a reality
3. Read books by Business leaders
Create a book list successful business leaders, such as, Earvin Magic Johnson, Randell Pinkett, Lisa Price, Carla Harris and Russel Simmons. Purchase books by authors, who are business leaders. Make a goal to read one of these books a month. You can start your book list with the authors listed under our section “Book List”
4. Research The Market
Do an online scan and research of the business market that you are interested in. For example, if it is a t-shirt business, conduct research on that specific market to see what already exist and what your competitors is doing. Find out what is lacking in the market and identify how you can fill the need in the market place.
5. Be Laser Focused
To be a successful entrepreneur, you need to tune out distractions. Have a strong sense of self-discipline. Make time to work on your business in a quiet place. Select a time during the day when you have few distractions. Set goals for your business and focus on getting them done. No excuses!
6. Use Your Time Wisely
Time management is key. Break up tasks for working on your business in small blocks of time. Instead of having a very busy social life and engaging in mindless activities like watching TV, use your time to grow your skills in business, Attend workshops on marketing, money management, marketing, cold calling, networking and public speaking.
By Stacey Berry, Founder of Resources For Youth
Owner, Consultant and Public Speaker, Bstellar Consulting Group