You have a realization that your career path may no longer be the right vehicle to take you into the type of retirement that you desire. You are joining the growing legion of senior employees that have been told that the day of the pension with health benefits is over. You are pretty much on your own to engineer your own immediate and long range financial future. This realization has you concerned and maybe a bit scared. That’s good. It will serve as your motivation to stop putting off analyzing your present situation and start seriously thinking about your future and that of your family.
Back in the day, we were schooled in the tradition that you were the captain of your personal ship. You were to be responsible for the physical and financial condition of your family and yourself. It was all up to you. Those days are coming back.
After the Great Depression and World War I and WWII, government and large corporations started selling us on the notion that they would take care of our future and retirement by setting up entitlements and safety nets. We are talking about Pensions, Social Security, Medicare and Worker Compensation. Unions sprung up to champion these ideas and gained great influence in the structure and policies of government and industry. All seemed to be going smoothly at first, but as we now have seen these very programs have turned a bit toxic. So now what are you to do to protect yourself in the immediate future?
You have begun to consider starting or buying your own business.
This website may just have the answer that you are seeking. Let’s start with the fact that, as an employee, you have focused on performing some specific task within the larger company structure. You have always been one of the cogs in the larger machine. You may have actually been a very big cog, but a cog none the less. You performed some task or service and were compensated accordingly. You took direction from your superior(s) and were held accountable to a level of performance and competence. All that is good as far as it goes, but there is a lot more that you probably have little or no real feel for.
Visualize the human body. There is the head and inside, the Brain, creating and directing the rest of the body. There are the Chest and Abdomen to provide nourishment. There are the Hands, Arms Legs and Feet to perform the tasks called for by the Brain. You are now planning to become that directing brain. The critical concern now is to assess just how prepared that brain is to meet all the challenges that lay ahead. The better prepared, the greater the chances of success in the venture.
Consider yourself that skilled craftsman who fixes or creates that which is needed at the time. How does that craftsman know what to produce? Someone else brings him or her a project that yet another someone sold to the client or consumer. The chain looks something like this: Need of Consumer, Marketer Creates the Order, Producer Fills the Order and Delivers the Finished Product. You, the entrepreneur have to deal with all the issues involved in that chain of events.
Now let’s step back for a moment and talk about your personal basic objectives.
What do you want and need to accomplish? These are your primary lifestyle issues.
Take a blank sheet of paper and list out in ascending order those basic needs and wants. Next to each one define how much of each want or need you have presently satisfied. Next to each one put a date to complete and satisfy that item. Don’t forget to put a dollar amount and a time to complete each one. Do not skip this critical first analysis. Unless you know where you are now and where you wish to go and when you wish to arrive, you will fail to complete your journey and reach your objective. This is the truth, plain and simple.
To help you this website offers you a FREE Personal Analysis Questionnaire. Take this valuable self assessment tool as your very first step to defining and pointing you in the right direction. This will save you much grief and false starts.
Explore the wide variety and subjects contained in this website and consider using this material to focus and guide your journey to your stated goal.
Commit to get better informed, do the work and you will certainly improve your chances of success.