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DOWNSIZING, REDUCTIONS-IN-FORCE, LAYOFFS, you name it–terms like these are all too common these days, even if they don’t have a direct impact on you. If you’re the victim of downsizing or any other type of job loss, why not turn your situation to your advantage? Upsize yourself!
Here are some good thinking points to help you take action toward a better work life today:
- Start or take over your own business so you’re free of future corporate downsizing
- Create your own payroll which gives you better control of your wages and other income
- Work early or late in the day, whichever is best for you
- Take vacations when you want to–not when someone else tells you to take one
- Build a great future for yourself and your loved ones at your own pace
TO GET MOTIVATED AND TAKE ACTION, start with the easy upsizing steps below, either for yourself or for others who need similar help. Once you understand how to upsize yourself, you might even be able to charge a fee for helping others based on your own experience and knowledge.
There’s not enough space in this article to give a detailed road map of all the different factors in evaluating small business opportunities. I cover such details in additional articles, in my monthly International Wealth Success Newsletter and in many of my books. I recommend that you take a look at books and articles on this subject, available at bookstores and libraries near you.
Let’s start with some of the basic considerations of running your own business. You should start thinking about these things before you lose or leave your regular job. Doing this will get you off to a running start if (or when) a layoff happens. If you’ve already lost your “day job”, now’s the time to lay the foundation for your future success.
- Pick one or more businesses you think you’ll like. Maybe you like the products involved or maybe you like the way they do business. These are the businesses you’ll want to learn more about so you don’t pin your hopes on a single opportunity. People who work in businesses they like usually know more about their products and do a better job in general than a complete newcomer. And just as important: their customers feel like they are better served.
- Think about taking over an existing business or franchise. For you, the entrepreneur, taking over an existing business will often give you a better chance of success than starting one from scratch. Much of the daily operation of an existing business will already be in place for you.
- Put in the needed hours at your business. At the start, you might have to work longer days. Either way, there’s no substitute for being “on the job” to serve your customers when they need you.
- Feature good service, individual attention, and caring for your customers. Aren’t these the kinds of characteristics you want in businesses when you’re the customer?
- Leave accounting and legal concerns to the accountants and attorneys. Every business has these worries. It doesn’t mean that anything is wrong with the business. It’s actually a healthy sign when you can turn the burden of legal and accounting concerns over to others. It gives you more time and freedom to focus on improving your business and making more money. There’s no substitute for the specialized knowledge and experience of a good accountant or attorney when needed.
I’VE BEEN DOWNSIZED. HOW CAN I UPSIZE MYSELF? Here are some businesses that are doing well for many people:
- Financial consulting as a financial broker, finder, business broker, advisor, etc., is popular and makes money for people wanting to help others
- Real estate ownership on income properties is an excellent business. It does–however–take longer to get started than certain other businesses like consulting. Real estate is also affected
- Exporting and importing products around the world is a business that keeps growing. Even with email and text messaging handy, business people are shipping increasing amounts of freight all over the world. You can become an independent export management agent, importer or exporter.
- Mail order/Web site selling can be lucrative if you enjoy finding great products at the lowest possible prices (wholesale or closeout) and buying or selling them internationally for a profit. Many good books and courses are available from IWS and others that show how to get started.
USE THESE IDEAS TO START UPSIZING YOURSELF, or to help someone else to upsize themselves. When you gain experience, you might even charge a fee for your advice. Focus on attaining independence from the whims of large companies. Start right now. You’ll see your income and satisfaction begin to grow.
