Entrepreneur, Is It Time

Success Is Planned For and Committed To!

Choosing A Vision

What type of business do you want to develop, build, and operate? In 1963, I was invited into a business partnership and given a 50% ownership position without putting in any money in lieu of me bringing energy, vision, and commitment. It was the beginning of a rewarding and successful 50+ year business career but it wasn’t without obstacles, failings, and restarts. This exciting business beginning became a training ground for me to eventual choose my field of choice, #marine electronics!

Choose Wisely

It is important to choose a field that you are qualified for, passionate about, and committed to! RETAIL is a great choice if you love working with people and helping to solve their problems in a particular product or service category. Retail is also a small business category that has much easier entry level because it doesn’t have to be capital intensive and doesn’t require waiting a long time for payback.

Retail businesses sell items or services to customers for their consumption, use, or pleasure. They typically sell items and services in-store but some items may be sold online or over the phone and then shipped to the customer. Examples of retail businesses include clothing, drug, grocery, and convenience stores.

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Depending on the specific field you choose, it is possible to startup a retail business with minimum amount of capital. Investing your capital in a wise an intelligent way is of course an absolute must. I will write more specifically about this another time. The goal of this short posting is to get the creative juices activated and working, in other words get you thinking.

Once In a Lifetime Opportunity

As we come out of this COVID pandemic, the business environment couldn’t be more ripe with possibilities than it is at this very moment. If not now when? Unfortunately, many businesses didn’t navigate safely through this tremendously complicated shutdown period and no longer exist or are frightened to stock up. There is pent up demand, people are more and more looking to get out and visit shops. What a time for a small business entrepreneur to take advantage of customers wanting to come out to experience the items they want to buy first hand and not just digitally online. Recently I had to buy a new laptop and headed to the Apple store to secure one of their latest MacBook Air models. Now, I have always held up the Apple Store as an exemplary business model that any businessman would do well to emulate, but lo and behold they have lost their way during this pandemic. I had predetermined that the laptop I wanted was in stock at my local Apple Store but when I arrived I was met with resistance to enter the store without an appointment. Furthermore, I was required to wear a mask despite the fact I had been vaccinated for 2 months. All of this to say, it is going to take large companies a longtime to adjust to an open marketplace. The old adage is in play, strike while the iron is hot!

Is It Time For You To Come Out?

My field of choice was #marine electronics, what is yours? I will be expanding on this theme going forward including ideas for business startups and also fundamental management strategies that have been proven to succeed.

Coach

Larry C Anderson, CPLC, ACC