A listener has a simple idea but dismisses it because he doesn’t have three thousand dollars to get started. Is that really an obstacle? What could happen if you eliminated these dirty words from your vocabulary – Impossible, try, busy, should, and can’t?
Episode #884 April 14, 2023
Hi this is Dan Miller – and yes you’re listening to the 48 Days Radio show – where each week we take 48 minutes to dive into real-life questions about finding your passion, deciding what kind of life you want to live – and then finding or creating work that allows you to show up every day, excited to be able to do something that is meaningful, fulfilling – and profitable. This is where normal, indecision and ambiguity come to die. Welcome to the 48 Days Radio Show.
Thank you for being a listener of this podcast. I love hearing from you and being allowed to think through the questions we all have about finding or creating work that matters, for people who care.
Questions:
But without at least Three Thousand in my checking. I can’t do that.
Here’s a story I just heard about a guy from Ghana who lives in abject poverty and has moved past those obstacles to create art that has sold for over a million dollars.
Never say, “I have a great idea, but I can’t….”
Great ideas always attract money.
You can do all kinds of things if you know what it is you want to do and have a clear plan for that.
Vending is one of the biggest millionaire makers in America still.
You first need to be realistic about where you can put the vending machine.
You can rent, lease, or buy used. Actually obtaining the vending machine is not an obstacle.
And remember there are only two options when you try something. You either win or you learn.
Don’t say you can’t do something. Look at the obstacles and figure out how you can do it.
More resources on overcoming obstacles:
• Lack of Money Is Never the Obstacle
• How Did an Obstacle Launch You Into a Better Place?
• What Obstacle Is Your Key To Success?
I’d like to start my own business but my major concern has been in the area of insurance.
Check out Insurance Options for the Self Employed in our Useful Resources here.
Remember that there is no safety and security in employer-provided insurance.
Insurance companies often find entrepreneurs or people who are in business for themselves as less of a risk.
Instead of thinking about the lack of insurance as an obstacle, think about how much more money you would be able to earn if you were in business for yourself. With the difference, you can afford your own insurance.
A great place to start is the National Association for the Self Employed (NASE).
Another is the National Federation of Independent Business.
Even if there is a waiting period with existing conditions then consider that and start your business before you leave your current job.
But don’t let insurance be an obstacle to you starting your own business.
Can I build a career coaching business on the side with only 5 hours a week instead of the typical 15 hours a week?
I would not recommend what you’re describing.
In my 15-hour-per-week model, you would be:
• Learning 20%
• Creating 33%
• Earning 27%
• Planning 20%
That means with only 5 hours per week invested in your business, that would only give you one hour and 21 minutes for actual coaching where you would get paid. I don’t think that’s enough momentum where you would get paid.
Instead, I recommend you continue your long-term planning and continue to learn where you are.
Just see this as a season of your life. Do this for another two years until you finish your graduate degree. Then when you have more margin, you can look at devoting 15 hours per week to a business of your own.
I feel like I’m going through “entrepreneurial puberty!” Is this normal?
I love this question.
You are an entrepreneur first. You are a consultant second. You are a leadership trainer third.
In 48 Days To the Work and Life You Love, I distinguish between Vocation (the big picture), Career (a subset of your vocation) and Job.
If you change your job, you can still find thousands of other opportunities that fit your Vocation.
For me, my coaching, speaking and writing books have provided a very good income. But the big moves for me financially have been in real estate and business investments.
I encourage you to see this unrest you have as a prompt to explore some new avenues.
We have a CPA who does our taxes, but he never offers any suggestions on other deductions or things we can do better.
You clearly have someone who is just working the numbers. You need a CPA who understands business, cares about your business and help you find the deductions that will help your business.
I recommend you ask your friends for recommendations. Then interview three or four and make a selection.
Quotation:
[click_to_tweet tweet=”“But the beauty is in the walking — we are betrayed by destinations.”― Gwyn Thomas @48daysteam” quote=”“But the beauty is in the walking — we are betrayed by destinations.”― Gwyn Thomas”]
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