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Entrepreneurship and Starting Out Small

I'm a huge advocate of entrepreneurship and running your own business. I've never been satisfied with any of the jobs I've had (even though they pay very well and are extremely comfortable.) I always had this feeling that I should have my own business and be my own boss.

Well, one of the biggest obstacles in starting your own business is the fear; the fear of failure, the fear of the unknown. My brain is constantly trying to come up with business ideas. I've come with a few good ones too, but it seems almost impossible to get started on one.

Well, it dawned on me today that I have been approaching things the wrong way. Being a person of high standards, most of my ideas involved big businesses, high capital and lots of man power. I think you can (and should) only tackle such tasks when you have had more experience. I believe the first step in becoming comfortable with starting your own business is to start out small. I mean really small. Meaning low cost, low risk and perhaps little or no return. This first few times you do it, you will most likely fail or get very little in return. But the lack of monetary return is balanced out by the great amount of experience gained.

So where do I go from here? I've been reading a lot of interesting blogs about starting your own business and what to do and what not to do. They have all been very helpful and I know a lot more now than I did before. But the one blog that really caught my attention was Neville's Financial Blog. The reason I really liked his blog is because Neville is actually doing "something". He is acting upon what he has learned and experimenting with it. He is putting together little businesses and scenarios to see how well his ideas do in the real world. Not all of them are successful, but most of them are very inexpensive and require little or no prior knowledge in business or finance.

Since he started his blog back in January of 2005, he has made a total of $9,108 and his total liquid assets are nearly $23,000. That's not bad for a hobby. I believe starting out small like Nev did is a great idea. So if you see me on the side of the highway selling bottled water, please don't laugh at me, I'm actually working on building my empire :-)

Rich said,

July 15, 2005 @ 4:17 pm

I read that guy Nev's blog. He seems to be focusing on the big picture of creating wealth for himself, using entrepreneurship as one component. He also seems to be living on a budget and attempting to be frugal. Do you think you can do that? I think it will be very hard for you to NOT order the creme brule as desert with your lunch. :~)

Seriously though, I hear you on the small project thing. It puts only you in charge of your destiny, so you have no excuses as to why things aren't moving forward. Like you said, it doesn't have to make much (or any) money, but it will get the ball rolling…

Ramin said,

July 15, 2005 @ 5:03 pm

No creme brule after lunch? Are you nuts?! Looks like I won't be getting wealthy after all.

Honestly, I don't _plan_ on getting wealthy, I'm just hoping it'll happen as a natural process of doing something you like and providing a good service or product to the world. And if it doesn't, at least I can say that I tried.

Now to actually try is the hard part.

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