The following is a guest post by Brokeprofessionals.com. You can see their bio below.
Every time I get a gift card, such as for my birthday or Christmas, I look at it and wonder if I can use it for my business. Just this past holiday season I got a brand new laser printer, a fax machine, a fancy corporate looking telephone, and a second printer for my assistant/secretary.
“Awesome!” I think. ”These items will really help my business run more smoothly.”
There is only one problem. I do not currently own a business.
Dreams of Self-Employment
I like my job, but I have always dreamed of having something of my own. The only problem is I know I am simply not ready yet. I lack the clients and the experience to go out on my own, and no amount of drive or work ethic is going to make up for the important areas in which I am currently lacking, only time. Besides, with my student loans it would be crazy to try and set up shop right now.
And yet the dream persists. Just the other day I purchased some normally very expensive watermarked business paper on sale. I got home and before I relegated it to the “business stack” hidden in a closet in our apartment, I admired its professional look, and the fact that it was so much thicker than ordinary paper. For a second I even felt a little tinge of melancholy, as I wondered if the paper would be brittle and yellow by the time I got around to starting a business that could use it. For that matter, who is to say whether the office equipment I am purchasing now will even be compatible with the future computers they will surely need to link to? To be perfectly honest, I even felt a little depressed for the paper, sitting around gathering dust with no chance to fulfill its duty in life. (Man I need to get Toy Story 3 out of my head).
How Soon is To Soon to Start Planning for a Future Business?
My wife has never said so (to me), but I suspect she finds my hoarding of office supplies slightly strange. At the same time, I know she does not want to be perceived as killing my dreams. Perhaps all I need is the illusion of one day breaking free of my job and starting something all my own. And yet, at the same time I can think of rational reasons for what I am doing. ”Times will be tight when I do start my business,” I say. ”We’ll be happy we purchased this stuff over a long period of time so when I start the business the startup costs will be manageable.”
Different Ways to Plan and Prepare for a Future Business
There are more practical ways that all of us can tip toe into a business. We can learn a trade or skill, such as what I am doing at my job. We can lay the groundwork for a future company by networking now, so that a solid client base may be called upon when you do make the jump to your own company. Like Crystal on this site, you can start something as a side-business before going “all in”. Finally, you can take the time to further your education/complete any certifications that you may need, or learn about business in general before taking the big risk of solo employment. The fact remains that whether you are a painter, a doctor, or a lawyer, any company/profession requires marketing and business skills as well as knowledge/skill of the underlying service/items you are selling.
Conclusion
There is something inside me that feels better knowing that I am taking some actionable steps towards self-employment, even if I cannot take the big leap forward at this time. When I am having a particularly rough day at work, I think about my little unopened office back home, and allow myself to dream about the future for a moment or so. I admit some may consider what I am doing to be a little off, at best.
Others may argue that you just need to go for it, and sink or swim on your own accord. It does seem that most success stories that I read about do involve someone going after their dream 100%, with passion and laser point focus. But for some reason, I don’t worry about any of that, as I dutifully attempt to inch towards my dreams one prematurely purchased office supply at a time.
Author’s Bio
Most other Bloggers in the field of Personal Finance discuss their “Goal of obtaining one million dollars” or their “journey to financial independence and freedom.” After seven years each straight of “higher” education (and all the student loans that go along with it), our husband/wife blogging team goal is to simply get back to broke. Join us on our journey at www.brokeprofessionals.com.
Crystal’s Comments: I have found myself drooling over nice desks and organizational tools for my future blogging office, so this post strums my heartstrings. Do you have plans for your business to come?
I don’t think it’s ever too early to plan for one’s business. In fact, I say the earlier the better. The constant planning will make your future business seem more real, and you’re probably more likely to follow through on your aspirations.
If you put things off and have a faint picture in the back of you mind, then you will most likely never start your business.
Start planning early, and revisit the idea often. Then your business will begin with a bang (when you decide to pull the trigger on it)!
I think you have this all backwards. Printers, computers, paper, etc. do not make a business. Action makes a business. An idea makes a business. Revenue makes a business. Profit makes a business.
I think the reason that more people who want to work for themselves are not able to, is because they are looking at it like you are. They think in order to have a business, you have have to have all the physical tools, and you have to have a ton of customers on day one.
Businesses start with just an idea, and eventually that first dollar of revenue.
So far, you have a lot of expenses, but no revenue (from what it sounds like) and no idea, at least that you mentioned. What if you don’t even need office supplies for your eventual business?
I think you are going about this backwards.
In no way should purchasing office supplies be considered an “actionable step” toward starting a business. That is delusional. I have started 2 income producing “businesses” just this year, neither of which required any office supplies.
In general, I think this advice misses the mark. People – if you want to start a business, don’t waste a bunch of time and money buying things you think will make you look like a business. You are just pretending at that point. Spend your time working on ideas and trying to create revenue.
Sorry to sound harsh, but I really think this article provides incorrect advice.
I can’t say I disagree with Bogey. Having started a business, I can say that I definitely succumbed to the “this stuff makes a business” thinking, not really ever noticing that it was the idea, and the action that made the business though I guess since I’m still in business, I eventually shed that idea.
There’s a bit of a difference though between BP and I. I started my business at home with zero expenses, and at a time I had zero debt, and was 100% liquid. I had, for all practical purposes, nothing to lose beyond what I would invest myself. Obviously for the BP duo, that luxury can’t be easily afforded–they have to consider very carefully future cash flow from a business vs that which would come from their current jobs.
From an entrepreneurial standpoint, I agree with the premise that there is no wrong time to realize that you would want to work for yourself. Obviously the BP’s (you anonymous bloggers need names!) look forward to a new business, and I don’t think it’s unhealthy to dream at all. However, I also agree with Bogey in that any actionable step toward fulfilling a market need is far more progress than buying letterhead or a new shiny desk.
I look forward to seeing a future post in a couple months, a year, or maybe even a few years that is titled “I am my own boss!” Now that would be cool
I have a similar dream, but instead of collecting stuff, I’m collecting ideas and waiting for the right one to resonate with me.
There are a couple of sites out there that’s like the ebay for selling small businesses and I linked to them in this article http://wp.me/p101OG-BU. It’s interesting to see the revenue vs cost of businesses on certain things. I would have never known vending machines were so profitable otherwise.
Great post. Your loving details of all the small business supplies made me laugh. I know what you mean though, about coveting items that make your future business seem more real
. Have you considered starting your business on the side and working on it in addition to your full-time job? And what about your blog? Isn’t that a business you are growing on the side?
I think your approach might be considered as strange or somewhat different, but it’s probably the right way for you to get the motivation… in my perspecttive you are just building mommentum, sticking to a dream and making it come true one little step at a time.
Some paople are brave enough to leave everything and go for it. Some of us need the security of a day job and dream about doing something on our own, somo others (like Crystal, for example) work on their project simultaneously and expect to go for it full time eventually. Any approach is valid and their outcome should be bringing a dream to life.
I hope you find the strength, drive and motivation to start operations in whatever business you want to get involved in… at least on a small scale for a while. Giving that step might be what you need in order to defeat your fears and understand truly what you need to be successful.
GOOD LUCK!!!
If this gives you ideas or make you think about it, great! On the other hand, you may want to spend your time thinking about your interests, skills, talents and what you would enjoy doing. This is not that different from choosing a career. What do you see yourself doing when you are in business?
I think part of the confusion is that I do not admit in the guest post that I am a lawyer. To be sure I am always thinking of ideas, trying to learn new things, and making connections. At the same time, a law office needs certain materials. A law office will need, now and most likely in the future a printer and other office supplies. What I am talking about is using gift cards to purchase office supplies for a business that may never materialize, because I like my job, because I may get stuck with “golden handcuffs”, etc. I think that is part of the confusion and I do not think I was admitting the fact I’m a lawyer at the time I drafted this guest post. Now I no longer try to hide that fact. I agree the ideas and the connections and TAKING ACTIONABLE STEPS are the most important things, but at the same time I know htere are certain essentials I will need when I do break away to form my own firm.
Thanks for all the comments, positive and negative guys!
Hey you gotta start somewhere! You never know when or where inspiration will strike!
Hey,
I just wanted to mention that on my vacation I met an extremely passionate law school student. I’m curious as to how you guys were in law school and if you had the entrepreneurial bug at all back then?
I love working for myself. Taking care of health insurance on my own but it is worth it to have the flexibility. It definitely leads to more satisfaction, I think.
Hoard away, BP. It’s just one way to stay motivated and keep your eyes on the distant prize.
I admit, my first response was to scold you for spending money on stuff you don’t yet need, particulary the gadgets that, as you said, will likely be outpaced by new technology. But as I read on, I could feel your desire and remembered the “nothing happens if not first a dream” quote. So, go on, fuel your desire (within reason)with your purchases. If that’s what gives you joy now, do it. Just try to balance that with the other, more practical approaches you mentioned. Try to get rid of that debt, and build some savings, so you’ll be ready when you do decide to take the plunge. Good Luck!!!
There’s no time like the present to start a business!
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