November 30, 2011

It’s Your Biz by Susan Wilson Solovic

Many people dream of starting their own business where they call the shots and pick their work hours.  However, in “It’s Your Biz”, Solovic talks about how starting a business is so much more than that.   If you’re starting a business because you think you’ll find freedom you don’t have in your current position, you need to reevaluate your motives for becoming a business owner.  

It involves much more than having a passion for your business idea.  You must also meet a need.  Can you turn this passion into a real money maker?  Perhaps you’re better off working on your idea as a hobby or a freelance opportunity.  You may want to do it as side job initially rather than quitting your full time position and completely jumping into a new venture.

You must have a plan, or roadmap, for where you want to go with your business idea.  Decide if you alone are the business or if you plan to bring others on.  Be realistic in your plan both with the costs involved and a realistic picture of the competitive landscape.  Having an niche is one of the best ways to distinguish yourself from a competitor.
Although Solovic stresses the importance of a business plan and seeking legal advice, she doesn’t want the reader to give up their business idea.  Although initially the book seems to discourage people from starting a business, as you read through it, you realize the author is simply forcing you to have an objective perspective.  Along the way, you will have second thoughts and go through some tough times.  But if you took the advice in this book and didn’t jump into your business blindly, you’re well equipped to get through tough times when they come.

Disclaimer: I received this book for free from AMACOM books.

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