How many have heard that phrase and wondered what it meant?
It is a wonderful dream to be your own boss. How many of you have day dreamed about no longer having to listen to someone else give you orders on how they like things done, make coffee for someone, sit through boring meetings, or commute to work?
I know some of us, me included, always thought we could do a better job than our supervisor or manager? Especially when they made stupid mistakes or took too long to make a decision –but as employees we had all the
Actually, being your own boss is harder and requires more work than working for someone else.
There is a price to be paid when it comes to being the boss. The cost is often your sleep, your time, and sometimes making the wrong decision. When you are the boss, owner, manager, CEO you are the final decision maker.
Every decision that you make affects your business IMMEDIATELY!
I have had days like that when I simply have to say “ I am paying the cost to be the boss.”
It means living with a life altering decision for your business that will affect your family or finances, it means having others look to you constantly for the answer and to make that ‘right now’ decision.
Suddenly the tables have turned and you are the leader. So what do you do when you find yourself paying the cost to be the boss?
1. Stop and think about the decision you are going to make. Is it going to affect your business now or later?
2. Do you have to make the decision now?
3. Who is the going to effect? Who is involved?
4. Research and make sure you have all the necessary information first
5. When in doubt- seek someone else out. There is nothing wrong with asking for advice from a mentor or trusted advisor.
Consultants or business coaches, often fall under the category of trusted advisor or mentor. It is my job to help you navigate through some of those decision making process. Having a consultant around provides you with a level of confidence that someone else has been where you are and understands the frustrations you are facing.
Contact Waddell Consulting Services today for your FREE 30 MINUTE CONSULTATION!
Use this time to ask questions that you or a group of friends may not know the answer to, or if you need an idea on how to get started!
I look forward to being speaking with you and helping you along your journey.
Is now the right time to open the business that you want? Honestly, we all want to have our own business and be financially stable immediately. However, as entrepreneurs we have to consider what the current market looks like for that particular business.
For example, when the housing market crashed, that may not have been the best time to become a realtor.
Research what others are doing in your field. Who will be your competition? As an entrepreneur you have to think about every aspect of a business because you are now no longer an employee but a business owner. Evaluating your surroundings is critical to your success.
Taking the time to evaluate your surroundings will be beneficial in the long run. It will help you develop a great marketing plan and it will position you better for understanding your business. You will get the answers to the following questions:
Answers to these questions will help decide your future as a business owner. I urge you to take time to think about your future business endeavors and evaluate your surroundings.
Evaluating your surroundings also means using your resources. Contact Waddell Consulting Services today to
schedule your FREE 30 MINUTE CONSULTATION.
Today’s topic is courteous of Christopher Gee, Owner of FHIR a Non-Profit Organization in Charlotte, NC.
The difference between the two really depends on the scope of services that you want to offer and how you want to offer them. I am going to make this as SIMPLE as possible!
Nonprofit does not earn money (profits) for its owners. ALL MONEY (profit) earned by or donated to the organization MUST be used in pursing the organization’s objectives. A nonprofit usually provides a public service.
An important thing to remember about nonprofit organizations is that no one can guarantee you grant money unless they are the ones actually giving you the money. A very SIMPLE example of how it works is this:
1. Find a grant
2. Following the instructions and do exactly what the grantees is asking for
3. Submit your documentation
4. WAIT on a response
That’s it! The final decision is up to the grantor! No one can promise you that your grant proposal will be approved. I made that mistake and spent well over $1500.00 for a packet and at the end of the program I was left with a stack
of paper and no grant money.
IF you want your nonprofit to solely depend on grant money you will need someone FULLTIME to research for grants it is not just a one-time thing!
Establishing a nonprofit will take a great deal of detail worked and being very descriptive on the services that you want to offer to your community. There are fees associated with creating a nonprofit; the fee amount depends on the
state that you live in.
For profit business is just the opposite. If you want to be a sole entrepreneur then you are finished with establishing your business. What does that mean, it means that you have chosen not to incorporate, form a partnership, or become a LLC. You have chosen to be your only employee! Can you change this status after your business has grown absolutely!
Once you change the status of your for profit organization there are fees associated with filing the necessary documents.
These are just some very basic difference between a nonprofit and for profit organizations.
Still have questions?
Contact Waddell Consulting Services for your FREE 30 Minute Consultation to get your questions answered.
J’Anmetra is uniquely positioned to understand the many nuisances business owners face when they’re just starting out. Coaching services are provided online, via email, in person, or via phone. As a survivor of Domestic Violence J'Anmetra has lived by the following quote that motivates her daily is from John Wooden
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