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Executive Coach
To Sell or To Resell? That is the ONLY Question
Okay, you say that regardless of your lack of experience that you still want to start a small business doing something you've never done before. Interesting, I think you are asking for trouble. Depending on how you handle the opportunity this decision can cause some challenges in any and every part of your life, including your personal life; however, if you are anything like me, an obsessive compulsive (not literally), than you just can't let this go. You are determined to do this thing you have dreamed of for a long-time partly because you are convinced you would do a great job at it and it makes you feel alive and partly because you are a very stubborn person.
The Cost of Doing Business
Just because you are very passionate and are convinced your loved ones should provide emotional support, doesn't mean that they will. Your missed commitments could still fowl things up. Be aware that with your new obligations you may have to find new personal relationships to evolve into. And if you are not working hard enough that those in your life feel neglected, you are hardly serious. Even if your spouse, partner, or children nod to condone and understand you; they don't understand the implications of ninety hour work weeks.
What to do? Oh, what to do?
We are talking about more than a small relationship strain, rather we are speaking of neglect, financial, and emotional strain which can be much more detrimental to your personal life than you could imagine. If you weren't aware of these challenges, consider them. There is always going to be an exchange for this crazy life you have chosen; this is if you are determined to be a serious player.
Where to go from here?
Although there are no solutions that work for everybody here is food for thought to lessen your burden at least in the first couple of years; which are the most crucial in a small business.
Consider:
- The lower you are in funding the more impact a small business will have on your time.
- The less experience you have selling/marketing in your chosen field the more impact a small business will have on your time.
- The less you know about a particular field of expertise the more failures you will have and the more impact a small business will have on your time.
Do you have money saved up, at least two years worth for personal and business expenses?
Do you know potential expenses?
If not why don't you Wait, Prepare, then Move Forward.
If you are still determined to move forward:
Study your potential competitors; not for the reasons you think, but because you need to choose a company to work for; 100% commission. Call up the CEO and let him know that you love "what they have done with the place." Also that you have some high potential prospects (lie if you need to) that you are aware of and would love to resell his product to them. Don't be too stubborn or egotistical to not think deeply about this proposition. It will work to alleviate the relationship strain while providing valuable full-time or part-time experience depending on if you are still working a job while reselling. If you can't figure out how to work outside your work schedule to fulfill your dream, than this dream is not for you.
Helping someone else grow their business will teach you the ins and
outs of the industry; if you become really good at what you do they might ask for more of your involvement in the organization. This is contingent on the value you contribute.
You have the ability to create your own opportunities.
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