The First Step in Finding the IP Business that is Right for You

The First Step in Finding the Business that is Right for You 

“Each journey begins with a single step….” 

The first step in finding the “right business” is usually the most critical.  In acquisition consulting we find that even those who have been highly successful in previous careers get stuck in the mire of the paralysis of analysis, often to the point that they begin to doubt their dream to own their own company or business.  Let’s talk about the process on how to gain a focus in identifying specific paths/industries of interest.  Listed below are some of the top internet resources for general business searches:  www.Bizbuysell.com ; www.Bizquest.com ; www.businessmart.net

Here are your 2 initial tasks:

1. First, go to these sites as if you were in search of a job or of a new IP, a position which you need soon, to make a living.  As you search, select 5 (or more) listings that represent jobs/industries that you absolutely want nothing to do with. 

Print out the listings and write your thoughts and what you do not like about the job/industry.   Understanding what you don’t want to do is often the most important thing to know.

2.  The second task is to now select 5 listings that appeal to you, both professionally and financially.  These listings don’t necessarily have to be in the city or state you live in.  You just want to get a feel for the types of businesses that your instincts drive you towards. Print out these listings and then ask these questions of yourself:

  • Can I see myself doing this business on a daily basis?  Why or why not?
  • From a professional/working perspective, how do I want my family see me? 
  • Will they see me happy in this endeavor? 
  • How will I see myself in this business? 
  • Can I get excited about this business?

 

 Write down your results next to each listing.  You are now ready to perform a brief analysis and to start discussing the positive and negative aspects of that particular listing. As you move along in this approach you will see in the larger vision of what your task is:

  • Create clarity in your personal values.
  • Identify your feelings about your work.
  • Understand that you have choices on your path life. 
  • Recognize that these choices and options for being a business owner can be consistent with your values and who you are.

Finding the business that is right for you is a formidable task.  However it is out there for you; it takes patience, timing and perseverance.  By doing the simple tasks above you are taking the action to start your journey – the first step. 

 We wish you success! 

                                                                “A journey of a thousand miles begins with a single step.”

Lao-tzu, The Way of Lao-tzu
Chinese philosopher (604 BC – 531 BC)

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177 Responses to “The First Step in Finding the IP Business that is Right for You”

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