Biting off more than you can chew...

I got a response to my survey question and this is what was asked:

"You don't want to be over zealous and bite off more than you can chew so how do you know where to begin when you decide to start your business?"

Well, it will depend on the question you ask yourself. Many people will figure out what they may be thinking about doing and then try to figure out how. While their in the process of thinking this over they think about their why. And if the work is too difficult that's the moment the dream tends to die. People have this imaginary wall that seems like a constant obstacle of where to go next or how to even get started. The minimal question in this process is why do you want to do it. 

Your process should be Why, How, then What. To know where you should begin, find out your Why first. Why is it important to open up this business? How do you plan on solving this issue? What can you provide or do to solve this problem? You see, businesses are about solving problems. The more you help people solve a problem and  the better you are at doing it... the more money you can make and gain notoriety. 

So here's a few ideas to think about before starting a business. Are you ready?

• Think about something that gets your emotions involved where there is a problem to be solved. For example: "I needed something shipped overnight when I absolutely needed it sent and delivered without fail": FedEx. Or "I'm so tired of buying CD's and spending hours downloading and burning CD's of my favorite songs while carrying around this bulky CD player to listen to those songs": Apple IPod. Or "I like to travel but hotels are so expensive, why can't I just stay on someone's couch for a few days and pay a fraction of what I'd pay a hotel": AirBnB. This is you why. Why is it important to you?

• Think of how people would benefit from your product or service. How will it make their lives easier? How will it make their lives more convenient? If people do not have a problem to be solved then your product or service isn't of use to them. People buy out of what they feel they need to have to solve a problem. So give them something they could actually use. You don't have to create something that will work for everybody as trying to solve everyone's problem is almost impossible. Solve a problem for a group and be the best at it. Selling air conditioners in Antarctica might not be the best business model, so it has to make sense?

• Ask yourself is it moral and ethical? You want to make sure that the need your solving for won't violate code of ethics policies or get you locked up and thrown in jail.

• Does it excite you to learn more about building on this idea for a product or service? Does it get you inspired to go out and find the resources to make it a reality? What is it? Think about when you wake up in the morning to go to work. Most people don't get too excited about going to work, as my wife would say, "I don't feel like being an adult today." If you love your job, then you're in a good place and this isn't necessarily for you. But think about your idea and identify what the product or service is. When you think about it, does it make you want to drop everything and go out there and take on the world? It should. Whatever you choose be passionate about it.

There are many things to think about when starting a business but you don't need to take a big bite to know if it tastes good. Nibble a bit at a time and follow the ways I've described to see if it will be a business you'd be happy to bring to the world. 

About the Author:

Shaheim Kellum is a mentor and consultant looking to answer the questions of at least one person a day to better their life and/or their business. Could that person be you? Answer his survey question and become one of the many people he has helped with his powerful advice. Answer survey question here.


Power Seminar to Success Video Below

How my first business FAILED...

I remember my first company. Man, it was great. It was actually a great business. Surprisingly, it was something that wasn't done yet, by anyone, until a few years later. Now this was 1998, I think, and I was revved up to make this business a future cornerstone. I was coaching basketball to youths at the time and while watching a professional game, the idea hit me. My business was a developmental league that would be a kind of minor league system for NBA teams. Like how the New York Yankees built their minor league farm system to produce some of the Yankee legends such as Derek Jeter and Mariano Rivera.

I worked a few leagues and got some considerable attention due to being so young and already coaching basketball on a fundamental level. This was the best business for athletes that wanted to learn a bit more than what college would teach them about playing in the NBA.

But there was one key thing that was the main cause of my business failing. Quite simply, I never got started. Yep, as simple as not getting started, I failed at one of the best ideas I ever had. Fast forward to 2001, I'm a graduating high school senior and the announcement comes out that the National Basketball Association Developmental League (NBDL or D-League) was born. You want to talk about devastated? All I had to do was look in the mirror to point the blame. A huge bummer, but I knew back then that I was on to something and I bet you are too.

Now, I've gone on to create, own and partner with several other businesses to increase my business knowledge. I wound up spending a decade in the music industry doing pretty well but nothing quite like my first business or rather "the business that never happened". I made it my goal to never let anyone I encounter ever have that kind of failure. And that means YOU. Yes, YOU!!!

To have the kind of regret I had, for never getting started with something I really wanted and I won't let you do it to yourself either. By being a part of this Power Group of mine, I'll be giving you, literally giving away my knowledge, tips, strategies and even my resources to help you reach your goals, create your own business or improve what you may have already started. I only have 3 things I ask of you:

1) OPEN EVERY EMAIL I SEND YOU. (You'll learn to expect my emails as they will be packed with substantial information and opportunities)

2) Go through the message in the email and respond with your answers, thoughts and feedback. (It's important to participate/do the exercises)

3) Let me know what else you would like to learn. (If you have specific questions, just reply to the email and I will personally reply to you with a direct answer and I might include it in future emails so everyone can learn what to do in the same situation)

If you do these 3 things every time I send an email to you, you won't need toGoogle the best ways to run, operate and even profit from your business. You'll be able to see the change in your business and in your life. You are going to start winning and you'll have the tools you need, just by applying the principles and advice I'll be giving to you, that will help you WIN Aren't you ready to start winning? I bet you are. Start winning today by taking a quick survey. Click here for the survey. P.S. Thanks for being you and giving yourself the power to "Love What You Do." Here's something to get you started. Click here