Many business coaches and other successful entrepreneurs will tell you that starting a business is a lot like birthing a baby.
Tough and painful, but completely worth it in the end.
Another thing businesses and babies have in common is that many people wait until the time is just right to have one, only to eventually realize the timing will never be perfect and you just have to go for it in spite of the current obstacles.
And it’s generally true that if you’re waiting for the stars to line up perfectly in your life before you start your business, it’ll always be a thing of “someday.”
But, there are certain times when you need to change the circumstances in your life before you take the plunge into your new business.
We’ll talk about five such times today.
1. You’re in Financial Distress
But isn’t the time that you need money the best time to start a business that will bring you money?
Yes, a business is a great idea for long-term financial planning and stability.
But if the lights are about to go off or you’re not sure how you’ll pay the mortgage this month, then you need to get on more solid ground before you start your business.
There are two main reasons for this.
First, you’re going to need a little money to get started.
Not a lot, in fact you can do it with a surprisingly small sum, but it’s almost impossible to do it with a budget of zero.
Yes, if you poke around online you’ll hear the stories about the guy who started $100,000 in debt and without a dime to spend and grew that into a six figure business.
It happens, but it means you work literally 16 hour days and live in your parents' basement while you’re doing it.
If you’re a mom, you’ve got a family, you’re going to need a little capital.
Second, you don’t want to go into business knowing that if you don’t make a sale today you don’t eat.
This type of pressure inevitably leads to bad results.
Your mind needs to be clear enough to make objective, rational decisions based on the long-term success of your business, and free from desperation-induced actions that may hurt the reputation of your business and/or its chances of ever producing a consistent income for you.
2. You Just Had a Baby
Remember how we said starting your business is like birthing a baby?
Now imagine you just gave birth and next week you’re scheduled to give birth again!
You know what it’s like taking care of a newborn.
There’s the wonderful part of it where you want to be with your little bundle of joy 24/7, then there’s the not so beautiful part of never getting more than two hours of sleep in a row and adjusting to changing hormones and schedules.
All of it is way more than a full time job.
And if you have twins, don’t think that prepares you for baby and business twins. For obvious reasons, baby and business don’t mix like baby and baby do.
That’s not to say you have to wait until the baby starts school to get your business going. Just give yourself a few months until the fog has cleared a little, and you’ve gotten into some kind of a routine.
3. You’re in the Middle of a Big Life Stressor
This is kind of a catch-all that goes along with the first two reasons we talked about.
Starting a business doesn’t require that you work full-time, or anywhere close to it, but it does require that when you are working on your business, your mind be 100% focused on your business.
The decisions you make and the care you take in setting your business up will determine whether you’re still in business a year from now.
And sometimes we have things going on in our lives that require all of our attention for a bit.
So if you’re moving into a new house, in the midst of a tough divorce, or going through some medical scare yourself or with a family member, get to a better place first.
Only you can judge this one, but if you find your mind and your days being consumed with one big event, sort it out before moving forward with your business.
4. You Have No Written Goals
Jim Rohn, a foremost leader in the areas of personal and business development, tells a story about his mentor, Earl Shoaff, which really says it all here.
Mr. Shoaff asked to see Jim’s written goals, and upon learning that he had none, he predicted that he could guess what Jim’s bank balance was nearly to the dollar.
Mr. Shoaff was right, and as you can probably guess, Jim’s bank balance was far less than impressive!
The science behind goal setting is beyond what we’re talking about today, but you can learn more about setting your business goals from our previous article on the topic.
If you’re new to goal setting, or have no experience with it beyond failed new year’s resolutions, you’d do well to find a mentor to help you be successful here.
We’ll talk in a minute about how you can mentor with Kids Party Characters owner Cheryl Jacobs.
5. You’re Ready to Try it and See if it Works
Before the money comes in your business, the mindset has to be there.
There’s a reason Master Yoda’s words, “Do, or do not. There is no try,” have become so popular.
They’re true.
And there is no “see if it works,” it does work. Millions of successful business owners can attest to that.
The question is not whether it works, but whether you will work.
So until you’re committed to having a business rather than trying one, and to doing the work rather than seeing if it works, don’t start your business.
Again, a mentor is the perfect person to help you if you’re struggling with mindset and don’t know how to turn things around.
At KidsPartyCharacters.com, owner Cheryl Jacobs has been there. She’s done the mindset work, the physical work, and ridden the waves of failure that so often precede success.
Part of her entrepreneurial journey now is to give back to other moms and struggling entrepreneurs by taking much of the hard work out of starting your own business.
Cheryl has created a membership in Kids Party Characters that allows you to start your own children’s entertainment business with all the tools she already uses to make her business a success.
Membership in KidsPartyCharacters.com gives you an exclusive area in which to book parties, the right to use our 200+ costumes, and access to our acting coach and casting director.
You also get step-by-step training from Cheryl on how to start your business, as well as ongoing mentoring and support.
If you think the time may be right for your new business, or if you need help making that decision, schedule a free, no-pressure chat with Cheryl right here and she’ll give you all the details and answer any questions you have.
Also be sure to follow Kids Party Characters on Facebook for our best business building strategies as well as updates on the magic we bring to children’s parties.
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