Doing Your Own Thing

For those who want to consult or start their own business, this is for you!

NOTE: This is a new portion and will be a work in progress for a while

What To Do, or Market Research

This is a difficult one for most people because they've never really stopped to think about what it is they want to do, just that they want to do something. This means you will have to do some market research, or as I call it elsewhere: finding trends.

Market research will show what is being sought after and you can decide whether that is a fit for you and your skills. If your skills are somewhat lacking, you know your weakness and should know what to do to fill in that shortcoming.

Market research also requires seeing how your business fits with the local area. Whether your business is global or not, there is a great dependence on the local region just the same. This includes politics, idealism, religion, other demographics, weather/climate and other issues.

Politics, Religion and Idealism

While being open about your politics, ideals, etc is honest, being so in an area of opposing thought and ways can hurt your business and impede your ability to hire qualified staff. Imagine being a liberal socialist in a military community, a Christian in a Muslim country, or a PETA member in a community supported by livestock processing and consider how well your business will prosper under these conditions.

If your beliefs are that important, then you must locate yourself and your business where such beliefs are accepted, otherwise expect a lot of opposition and reduced business potential. Otherwise, keep your politics, religion and other beliefs to yourself and let your business grow! These are just facts of life and nothing personal.

Weather, Climate and Natural Issues:

Weather, climate and other natural regional effects are a concern and must be anticipated. This includes tornadoes, blizzards, droughts, sandstorms, tidal waves, earthquakes, hurricanes, floods, hail storms, electrical storms, avalanches and other natural disasters. This also includes pluses like boating, fishing, skiing, view, hiking, polution levels as well.

Contingencies for the bad and taking advantage of the good are all things to consider with your business. Many companies doing business with you expect you or your business to be available even when disaster hits.

Look closely at how New Orleans business has been affected by the hurricanes: lack of planning for the rare disaster has damaged the city immensely and how it recovers is dependent on business contingency plans. If the businesses have a plan to rebuild in the city, the city will recover. If the contingency is to leave the area and close shop in New Orleans, the city will lose and may not recover.

For you and your business, if you don't have adequate contingency plans, your customers may not be tolerant about your mishaps and leave you, hurting your business.

Business Plans

Everyone should have a business plan whether they want to do their own thing or not. This is a roadmap of your business/career and should be examined for where you are now, where you want to be and where you once were.

SBA - The Small Busiess Adminstration

Insurance

Cost of Doing Business

DBA, LLP, etc.