Exploring, Growing, Succeeding in Business Ownership.
Have you ever wonder how to truly create a life of your own design? A life where you decide how you spend your precious time and how much you earn? A life where you choose who and what is important to you?
Consider the path of owning a business. Small business ownership in the United States has always been a path to the American Dream from the infancy of our nation. To our forbearers, most of them new immigrants from the word-over, self-sufficiency was the only path to survival. To others, and still today, the great adventure of crossing frontiers, the chance to build a new life, to reinvent oneself and push ones’ boundaries is still the thrill of a lifetime. Small business is the chance to perhaps make it big, and at the very least to create a life on our own terms, to support our families, our dreams and to grow as individuals. To many W2 workers, corporate America today has become the equivalent to a life of enslavement with no security, no promised retirement, no flexibility and no upward social mobility. As a result, our middle class in America is suffering.
The idea of becoming self-sufficient via business ownership is attractive to most American workers, yet few act on it. Not everyone is willing, or gusty enough to become the next billionaire entrepreneur such as Steve Job, Elon Musk, Mark Zuckerberg or Oprah Winfrey. Yet, between these startup legends and those who work for and on the dream of these self-made billionaires, there are thousands of unsung heroes who create a great life for themselves and their families by joining America’s Main Street business.
Working for others and on other people’s dreams (i.e. building their business for them) is only one options to make a living and one that needs not be permanent. Yet, most of us are conditioned to believe from early on that getting a “good” job from a “good” company is the best we can do. Certainly this was true for many of our parents and grandparents and for a large segment of baby boomers. However, since the industrial revolution and especially since the last great recession of 2008, working for corporate has progressively become less secure and less financially rewarding.
Today, a large percentage of American workers, and particularly those who are near their 50s or older, tragically have difficulties finding work even though they are experienced, educated, competent and have had a very successful career in the corporate environment. Unemployment among workers who are 55 years or older is 12% -according to the US Department of Labor Unemployment report- while our national unemployment rate is less than 5%. This is not even accounting for those who are underemployed, underpaid, or those who stopped looking for work.
While women have made immense strides in freedom and equality in the past 100 years, unequal pay and power plays still insidiously and rampantly hinder professional and economic success because of gender bias. For women who are sick of income disparity and glass ceilings, business ownership is a great equalizer where the rewards are commensurate to talent, hard work, dedication, and nothing else. Furthermore, many parents of young families are weary of the ever-increasing demands of corporate career on their home lives where the boundaries between work and personal hours are blurred thanks to communication advances in technology. Ever emailed, phoned or texted for work during off-time and vacation? Ever spent weekends traveling on business and dine in hotels instead of chatting with your kids about their day at the dinner-table? With balance of the rewards and demands in corporate work tilted toward the latter, small business ownership can be, for at least one of the parents, a path to fully enjoy the years of raising their children.
This blog coaches you through a journey of discovery of this mighty economic powerhouse, this great equalizer, this glass ceiling shatterer: America’s Small Business Adventure. Here we discuss the why, the how and the what in business ownership, through various topic and resources including:
- Creating a small business start-up from your brilliant idea.
- Investing in an existing independent business built up by another entrepreneur who is ready to retire or to move on to other ventures, and who wants to cash in on the equity they have built over the years.
- How to grow equity in your business so that you can retire someday with your self-built “severance package.”
- Investing into a new franchise concept and licensing someone else’s idea and successful methodology.
- Buying into a franchise resale.
- How to determine which of your strengths are best aligned with a particular business requirement for success.
- How to find funding for a business including paying yourself during ramp up.
- And perhaps the most difficult question of all, how to truly define your personalized definition of success and how to go after it with the right business!
Each of these subjects intends to give you a peak into the wild and the amazing world of business ownership. Together, let’s dream, let’s explore and let’s discover what might be the best vehicle to a L.I.F.E. of your own design. A great L.I.F.E. is where YOU create the Lifestyle, Income, Freedom, and Equity that serves you and your family.