Find the Single Best Route for You

As I am throwing spaghetti against the wall to see what sticks, I do have a recommendation.  Do not try a lot of these ideas.  Lock into one that seems to make the most sense for you and go at it one hundred miles an hour.  I know I am not the greatest multi-tasker in the world and going one quarter speed in five different directions will not get you where you need to go.  Part of this process is to best understand your skill sets and see which best lends itself to you being able to make gobs of money with it.

It is really important that you are brutally honest with yourself.  It does no good to do a bunch of work to get to the point where your weakness or lack of confidence gets hit head on.  If these are known weaknesses then you have to have a plan to circumvent them.  The best way to do that if you absolutely cannot overcome a particular obstacle is to partner with somebody else.  The yen and yang principle could be a win/win for both parties.

The other thing to consider is to look at it as a game.  have fun with it.  If something does not work, then try a different approach.  Again, doing the research to see where your strengths are optimized and weaknesses are diminished is the best due diligence that you can do.  You have to be able to evaluate whether you possess the necessary skill sets in all aspects of the business in order to be successful.

I have posted earlier that I am not a detail person.  So the fact that my first business was a auto detailing company should be mocked and ridiculed.  Not only am I not one for details, I am not one for cars either.  This should have sent up so many red flags that I ran from this business.  So do not be lazy in doing the research on different business through a sober understanding of your own capabilities.

While I want you to believe that you are better than you think you are, that only happens by acquiring a mindset of overcoming obstacles as they come up.  These are the real life lessons.  My first real life lesson was making sure I had an exit strategy. Saying you are all in and there is no plan B is flat out irresponsible.  If you go down,  likely people around you will be negatively impacted as well.

Be wide eyed, but have a plan and work it as hard as possible.  While your heads down making it happen, make sure you are accountable to several people who can look at the criteria that indicates success, just getting by or somebody pull me out of this train wreck.

There has to be a balance of working a single plan with a whole heart, but knowing when to call in a day, pull the plug and then look at something else.  For me, it was very necessary after my first business failure, that I work a job where I took a salary.  I owed that to my wife.  Sometimes you need time to lick the wounds and time to recover financially before trying the next big thing.  i am also a big fan of trying most of these options while you have a full-time job so that this just becomes incremental income to put towards your retirement goals.

If you can replace your income and take your part-time business to be your full-time business make sure that you are not taking a step back to achieving your retirement goals by taking a quality of life or engaging primarily in achieving short-term goals.

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