I want to do pro bono design work for small black-owned business who want it. I know it's a recession and all, but there are places where I'm required to give back.
Confidence, creativity and consistency are so key in this day and age. In a world where jobs and recessionary living are matters of conscience, small business owners are losing confidence, but there are still people out there (like me) willing to chase their self-employment and entrepreneurial dreams (Hey, IF YOU CAN'T FIND A JOB, MAKE ONE!).
The LA Times recounted a recent poll where small business owners said they aren't too confident about their future, and half of them said they struggled with temporary cash flow in the past month.
Just like my company, I'm young. I'm also impatient, stubborn and overzealous. But in starting my own business, I've learned that the traits of my generation -- instant gratification and knowing that piles of information are at our fingertips -- cannot be taken for granted. Now all we have to do is make sure we can be successful for the long haul.
So, if your dreams are to go far in your newly opened business, consider these:
1. The key is to outlive the hype. Trending topics are a real thing just like bellbottoms, subprime mortgage lending and George W. Bush. Every fad that goes up must come down. In order for your business to survive when the bubble bursts, make sure you're providing quality services (plural) to multiple clients. For instance, becoming a jack of all trades is something I'd invest in.
2. Writing out a business plan. I haven't even made one. A lot of us younger entreprenuers started our business because A) we have a talent and B) we want to make money with it. Some of the things we forget about are taxes, costs-profit ratios and especially time management. Here's a good Web site to find out how to make a solid business plan: http://bit.ly/wPjRY
3. Physically creating your "Road to Success" map. No, seriously. Put it on your wall. Your current position should go on one end with a bunch of arrows stemming from it leading to a bunch of major goals on the other end.
4. Saving and investing the profits, no matter how large. The point of making money is to make it work for our best interests. Making stacks and then leveling them because we spent them on a week-long shopping spree in NYC as soon as you made them is NOT smart. As entrepreneurs, we aren't a hustlers in the business for quick gain (well, most of us). We're businessmen or businesswomen who have clients and the opportunities to continuously bring in profit.
Those 4 items are preparatory measurements. With that in mind, the road to success should be a little less cloudy.
Keep your head up, my people! Much, much love.
