[Free Book Preview #10] ~ CHAPTER 8 – Right Business Right Life – The Internal Research

[Free Book Preview #10] ~ CHAPTER 8 – Right Business Right Life – The Internal Research

Hey there, Freedom Seeker!

Welcome to the exhilarating big sky of small business entrepreneurship!

I wrote a book for you. This book reveals the Unbiased Small Business Research Formula developed from decades in the trenches of American Main Street and online business as a small business entrepreneur and a coach. Its objective is to help you become the successful creator of the new life you envision by objectively guiding you in researching and choosing the right business.

In the next weeks, I’ll share free sections of the book with you before it’s released for publication and available for purchase.

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“You only live once, but if you do it right, once is enough.” – Mae West

Part A: Where You Look IN

The research stage of the Right Business Right Life Formula (RBRL) comprises two types of research: internal and external, each with four milestones. We begin with internal research:  

1. You chose a business that empowers a positive mindset because it aligns with your life purpose or at least with your high values.
2. The business you choose must be able to facilitate a life you will enjoy.
3. As its future leader, you have a competitive advantage in making it financially successful.  
4. The path to business ownership you choose, either buying or creating a business, is the best path for you and your objectives.

Conceptually, it is a straightforward formula. Still, it requires understanding the landscape of small to midsize enterprises (SMEs) and introspecting through self-assessments to determine your competitive advantage, drivers, and motivators, allowing you to identify the best-fit business with which you will thrive. Stay tuned, my fellow freedom seeker.  That is what we are doing in the following chapters.

Let’s explore internal research in greater depth, shall we? This section has to do with you and how you want to live, why you will choose a particular business or business type versus another, and which of your qualities and talents are screaming to be brought into the daylight and exploited by a business that will make them explode.

Why is this important? Shouldn’t we just pick a business that will make money? Yes and no. 

Yes, a small business is an investment, and it needs to be a viable one. And no, just making money is not enough for most of us. You are not investing in shares of a company run by someone else, like in a portfolio of securities or private equity. You will be the leader of your own company! You and your business need to be an excellent match. The business needs to get to the destination you want, aka your best life, and you need to be capable, willing, and motivated to learn and grow to drive it there. 

Your ability to succeed is accomplished by optimizing your genius zone, and your strengths, with a business with which you will shine.  Since you are 100% responsible for making it happen, success as a small business owner begins with you. Although this might seem obvious to you,  I am astonished when an aspiring business owner asks me to help them research “profitable” business ideas. Yet, they want to skip the steps of self-discovering their objectives, leadership style, and strengths. 

Our early-stage internal research is for anyone in the research stage of what business to buy or start and for someone who is considering one or several ideas. If you have not launched your business yet, you are in the right place! The exercises in the internal research help you verify how closely aligned or misaligned the business idea is to who you are and the life you want to live. Use them as a thinking and decision-making tool, even if you are certain your idea is the right one for you. It will help you predict what is not ideal and create a plan to offset the disadvantages.

The graphic below represents the sequence of the four aspects of YOU. We want to discover:

1. Your life purpose.
2. Your ideal LIFE+.
3. Your strength & assets.
4. Your ideal path to business ownership.

 

Joining the VIP Waitlist

Would you like early access to your copy of the book as soon as it is released and receive a bonus book companion coaching session?

During the private coaching session, I’ll guide you through the exercises and templates in the book. Available to the first 20 VIPs who purchase the book. To join the VIP waitlist, click here.