15 Oct

When to Leave a full time job and become an entrepreneur?

leave a jobSometimes a full time job is not the right path to being happy. I expect most people have or have spent most of their life in a full time job. Even if you retrain to do something different, that you expect you will enjoy you are still having to work on someone else terms.

I’ve always had a job. No, I’ve always had a source of income. I decided early in life that the best way to succeed in this world is to run your own business. When I was just 15 years old, I discovered that if I found a need, and filled it, I had created my career. It was probably into the late 1970′s that I had even heard the word “entrepreneur”. But being a word that I didn’t know, I just had to look it up. And I then realized that was what I was.

The unfortunate part. I had to take a job to support my mom after my dad passed away. I was so busy earning enough money to pay the bills, that I didn’t have time or money to pursue any type of business start-up of my own. I did find a way. I started a part time business in my days off, and by appointment. Which allowed me to work selectively on my own venture.

Well, it failed. I just didn’t give it the time it takes to operate a business. So I stayed in a steady income producing job for a number of years. Then the economy tanked. My job disappeared. Like so many other guys jobs. The competition was on. Jobs were hard to find. The career I had desired eluded me. I went from job to job. Just barely scraping by. I hated it, but I seemed stuck in it. Several years went by. I finally landed a pretty good factory job. It didn’t pay that well, but at the time you were happy to earn anything, including minimum wage. Well, I worked my way up from sweeping floors to Machine Operator. It took five years. I was still just scraping by.

I made a plan that by the end of the decade, it was the late 1970′s I was going to move to California to get a new start. I saw California as a fertile new land with endless possibilities. I had a good outlook about California. And when I got there, What did I do? I took a job.

It took me years before I took the step to leave the security blanket of a job with a pretty much guaranteed weekly or bi-weekly paycheck. But I just never got ahead. Worse yet, I hated my job, my life, everything. I was miserable. I hated myself. For giving up on my dreams. I didn’t have a lot of money, only a small savings account. A very small fund to draw from. It wasn’t really enough to start a business. But sometimes you have to take a risk. I’ve never been much of a risk taker. I always plan things out. Over plan to be honest. But I did it. I quit my job. And if you think that was easy, whoa! I was scared to death. But I had this idea that “I will survive”.

If I put myself in a position where I have no choice but, to “go for it”. I saw it as a desperation move to force myself into action. It worked. I was just desperate enough to succeed. And I loved it. Of course after a while I got somewhat bored, I decided I wanted to try something new. But now I had resources. I sold my business, and started a new one. it was a lot easier with money to back me up. That’s when I realized I had achieved my dream to be an Entrepenuer. I look back now that I’m retired, and I wish I had taken that step much earlier in my life. I allowed fear to keep me from doing what I needed to do. My life could have been much more fruitful, and much more enjoyable, had I taken the risk earlier in my life. I’m glad I didn’t put it off any longer.

 

15 Oct

Do you need insurance as an Entrepreneur?

insurance for entrepreneurInsurance is a vehicle we all need to have in our arsenal of weapons being an entrepreneur today. With hectic schedules and tight deadlines to meet, our health is something we often neglect. This is done unconsciously and without intent. Then one day you find yourself in need of insurance to cover an unplanned medical bill, or a car accident you certainly didn’t plan. There are so many things that can happen on the spur of a moment, changing your life forever in some instances.

Having a good insurance plan. an individual is able to go to work and not worry about the fact they may someday need to pay a bill from a loss without available funds to pay it. Having that insurance policy gives one the confidence to go to work or to go anywhere without fear of being able to care for their basic needs.

Oftentimes entrepreneurs neglect to take care of this crucial tool. Don’t make that mistake! you will be sorry you did. How many times have we heard of catastropic events occurring to entrepreneurs in various circumstances? Not only is there a need for medical insurance, but also insurance on the business, mortgage, automobile, life, and disability insurance. There are probably others, but these are some of the most important.

Not having to worry about the aforementioned things can and does bring about a lot of peace of mind. Without these basic coverages, life can be unsettled, to say the least. We live in a world that has to have coverage in all areas of an individual’s life. This includes an entrepreneur’s professional life.

Where insurance is concerned, always hope for the best, but plan for the worst. Doing this will always keep you prepared for the things that are unknown or unforseen. No one plans on having a streak of what seems to be bad luck, but it does happen, sometimes one thing after the other. That is when an individual can feel like giving up, especially if there is no insurance to cover the devastation that has occurred.

Buying insurance should not be something you do haphazardly. You should take your time and plan it as if your life depended on it, for one day it just might. Knowing that you are covered, not only gives peace of mind, but also a sense of satisfaction that every base has been covered, no matter what happens. If there are questions regarding what type of insurance you should purchase, find a reputable company and speak with one of the agents. Some companies have several types of insurnce, which is good because there is normally a huge discount given when more that one product is purchsed.

If an entrepreneur also has a family, worry about their health and safety can be a distraction. if adequate insurance is not available to every family member.

Today children seem to be susceptible to all types of things people didn’t contract years ago. With that in mind, there is a constant concern that the coverage taken out for the family is enough to take care of anything that may arise. A parent wants to know that they have done everything humanly possible to take care of a sick child.