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ChangingCourse.com, Find Your Life Mission and Live It

Issue 150

November 1, 2006

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Changing Course is dedicated to helping you:

~Live Life on Purpose
~Work at What You Love
~Follow Your Own Road

Inside Today's Issue

Featured Article

Business Planning 101: Do You Really Need a Business Plan?

Featured Resource

Tax Tips and Health Insurance for the Self-Employed

The View From the Other Side

Guest Article

Upcoming Workshops & Teleclasses

Resources for A Change

Bite off more than you can chew, then chew it. ~ Ella Williams

Business Planning 101:
Do You Really Need a Business Plan? (Part 3 of 3)

By Valerie YoungValerie and her dog, Cokie

Go to just about any small business start-up advisor, class, website, or book and they’ll all tell you the same thing – before you do anything you must write a business plan.

Case in point: According to the Small Business Administration, “the importance of a comprehensive, thoughtful business plan cannot be overemphasized. Much hinges on it: outside funding, credit from suppliers, management of your operation and finances, promotion and marketing of your business, and achievement of your goals and objectives.”

Chairman of First Business Bank in Los Angeles Robert Krummer, Jr. makes an even more dire warning: “The business plan is a necessity. If the person who wants to start a small business can't put a business plan together, he or she is in trouble.”

Well Bob, if that’s true, then I – and just about every established successful business owner I know – am in deep doo-doo. For better or worse, a Wells Fargo/Gallup Small Business Index study found that only 31 percent of small business owners surveyed started with a business plan.

I’ve run one kind of business or another since I was a 21 year old graduate student. In fact, facilitating workshops was one of the ways I paid my bills. Even during my eight year stint in the corporate world, I always had some venture going on the side. And, I’ve never had a business plan. Neither have friends, collaborators, and fellow entrepreneurs Barbara Sher and Barbara Winter.

Despite not having a business plan for the last twenty years Barbara Winter has somehow managed to publish a phenomenal newsletter called Winning Ways (ChangingCourse.com/winningways.htm). That makes Winning Ways the longest running small business newsletter in the country. Her book, Making a Living Without a Job is in its 17 reprinting. A popular speaker and seminar leader, Barbara’s seminars regularly sell out.

Then there’s Barbara Sher. A short list of Barbara’s business accomplishments include writing half a dozen best-selling books, starring in her own special broadcast on public television stations nationwide, appearing on shows like Oprah, Good Morning America, and 60 Minutes, and recently hosting a sold-out workshop on a Greek Island. Barbara Sher doesn’t have a business plan either.

Then there is me. I’m the only one among the three of us who hasn’t written a traditionally published book – yet! But even without the benefit of being a published author, I have managed to attract over 23,000 subscribers, gotten my share of national and international coverage in publications like the Wall Street Journal, Kiplinger’s, Entrepreneur, Self, Glamour (UK), The Sydney Morning Herald, the Globe & Mail, am currently training 23 people to become “outside the box” career consultants, and was recently invited to speak at a workshop for artists that includes an all expenses paid 7-day Caribbean cruise (all you artists, stay tuned for details in 2007). And I don’t have a business plan.

If you buy into the banking chairman’s thinking, all three of us are in trouble. Well, the way I see it, if this kind of success spells trouble, than sometimes a little trouble is just what an inspired entrepreneur is looking for!

Consider Your “Natural Work Style”

Sometimes not having a business plan is a function of one’s natural work style. I can’t speak for Barbara Sher or Barbara Winter, but knowing them both, I’d venture to guess that like me, they are not big planners by nature. That’s not to say that we don’t know where we’re going. We very much do. It’s the difference between heading off on a vacation with a well-planned itinerary verses deciding what to do based on “how you feel once” you get there.

The same thing is true when running a business. Some people by nature prefer a structured, planned approach. Others prefer a more flexible, plan and adapt as you go approach. Guess which camp we’re in?

This very newsletter is a good example of a more “spontaneous” approach to work. I often plan what to put in the newsletter anywhere from a week or two ahead of when it’s going to go out. Sometimes I decide the day I sit down to write it. That’s not to say I don’t spend considerable time planning when planning is called for. It’s that I’m perfectly fine changing my article if I think of a better idea, adjusting things mid-class, deciding to add a whole new chapter, or indeed changing the entire direction of the book if that’s what’s called for. Entrepreneurs tend to be idea people and idea people want to go where the ideas take them – not where the plan said they have to go.

You, on the other hand, may be just the opposite. If you published a newsletter you’d probably lay out an editorial calendar six months to a year in advance. It would make you utterly crazy to set off without the structure of a written plan. Having a logical system for managing various aspects of your work makes your work flow more smoothly and efficiently.

Taken to the extreme this need for discipline and control might be seen by some as, well, anal retentive. However, as the great J.C. Penney once said, “Only the disciplined are free.” While a perfectly organized office and highly detailed business plan may appear rigid to others, to the disciplined person a certain level of organization and structure is actually freeing. That’s because once a system or plan is in place, they no longer have to think about it!

Consider Your Business Type

Personal work style is only one consideration in whether or to the extent to which you have a business plan. The other has to do with the business itself. Just because Barbara Sher, Barbara Winter and I don’t have formal business plans doesn’t necessarily mean you shouldn’t. If your business idea involves seeking outside funding in the form of a bank loan or investors, then naturally you will need to prepare a business plan.

On the other hand, the other reason none of us have business plans is because we all have pretty simple businesses. We show up to speak or do a workshop and receive a check from the event sponsor or the attendees. We sell a book or other information product and someone gives us their credit card or sends us a check and the money gets deposited in the bank.

When we buy something like a new computer or a plane ticket or a magazine subscription we get out our credit card or write a check. Then either we or the respective bookkeeper we pay $25-$35 an hour to come to our home office, records the expenses, and then files the receipts so we can write these off of our taxes.

This simplicity is very much by design. None of us wants to manage the complexity and the corresponding headaches of running an empire. We are what are known as “lifestyle entrepreneurs,” meaning our businesses are an extension of our lives.

I first heard the term “lifestyle entrepreneur” when the public radio show, Marketplace did a segment on entrepreneurs who choose their business to fit their desired life. The series was based on a book called “Not Just a Living: The Complete Guide to Creating a Business That Gives You a Life” by Mark Henricks. Clearly Barbara Sher, Barbara Winter and I are not alone. According to Hendricks a whopping 90% of people who become small business owners are seeking to make a living and have a life.

One of the sessions Barbara Sher conducted at the Making Dreams Happen (ChangingCourse.com/makingdreamshappen.htm) retreat was a small business workshop. In it she talked about her entrepreneur grandfather. A lot of immigrants, both then and now, turn to entrepreneurship either out of necessity or because they know it is a classic route to the American Dream. For Barbara’s grandfather that meant driving around Detroit in a horse-drawn carriage collecting scrap metal to sell. Do you think he had a business plan? Of course not! The man had a carriage, a horse, and a strong work ethic.

When you think about it, little has changed since the turn of the century. Every minute of every day some small business owner in the so-called developing world “sets up shop.” From their little stands they sell cups of hot tea, fruit, woven carpets, beaded shoes, or pottery. Others provide a service like shuttling people around town, shining shoes, or taking in laundry. And just like their more privileged counterparts in the developed world who operate tea shop tours in London, or import olive oil from Italy, or make designer lamps out of vintage shoes, they do so without the benefit of a business plan.

If your goal is to start a small self-sustaining business that does not require getting outside financing, renting space or expensive equipment, hiring a management team or otherwise involve a lot of complexity, then my advice is Keep it Simple. Do your homework, learn everything you can about your prospective clients or customers, become a life-long student of marketing, and make it your mission to provide excellent customer service. Now that’s a plan.

If you do need or want a business plan, a friend raves about the Business Plan Pro software from Palo Alto. The vast majority of people can get by very nicely with the standard version. What I also like about this particular software is that it comes with 500 pre-written plans for popular businesses. My friend wanted to start a pet wellness center and found there was a similar template that had done a lot of the work for her. Plus they have a special eBay edition.

Or you can download a free business plan template (and lots of other helpful tools) at Score.org (SCORE.org/template_gallery.html). It doesn’t have any of the bells and whistles that Business Plan Pro has but hey, it’s free. (Interestingly enough, Business Plan Pro donated 400 copies of their software program to Score counselors.)

Even if you plan to run a pretty simple business or hate to plan, if this is what it takes to finally get that business idea out of your head and down on paper, then I’m all for business plans! Learn more at ChangingCourse.com/recommends/BusinessPlanPro

About the Author

Off the beaten path career counselor, Valerie Young, abandoned her corporate cubicle to become the Dreamer in Residence at ChangingCourse.com, offering free resources to help you discover your life mission and live it. An expert on the Imposter Syndrome, she's presented her How to Feel as Bright and Capable as Everyone Seems to Think You Are program to over 30,000 people.

Find more articles written by Valerie at ChangingCourse.com/articles/

How we spend our days is, of course, how we spend our lives. ~ Annie Dillard

Featured Resource

Tax Tips and Health Insurance for the Self-Employed

Tax Savings Every Freelancer Should Take

As an independent contractor, you're your own boss. You call your own shots. But with that freedom come responsibilities -- quarterly taxes among them. Find out where you can save... what the IRS really needs to know... how to make the most of those deductions for travel, meals, entertainment, home office, and more... To get answers to hundreds of tax questions along with practical worksheets you can use to make sure you're paying as little as possible to Uncle Sam, visit TheTravelWritersLife.com/tax/change

Did You Know Health Insurance is Fully Tax Deductible? 

Yes, when you’re self-employed you do have to self-insure (Since turning 50 I pay around $400 a month to Blue Cross Blue Shield). At the same time quips self-employment specialist Barbara Winter, the U.S. tax system "is set up to benefit the very wealthy and the self-employed." You may not be a millionaire but if you're thinking about working for yourself the good news is that you can deduct a FULL 100% of health care expenses – including dental – for yourself, your spouse, and dependents. Learn more at IRS.gov/publications/p535/ch07.html

Health Insurance Portability Act

Under this law you cannot be denied medical coverage due to a present ailment and you cannot be made to wait for coverage by your new insurer due to that pre-existing condition. Learn more about this at HHS.gov/news/press/1996pres/960821.html

Finding Affordable Health Insurance 

I like this site because in addition to featuring the largest selection of major medical health plans from leading companies, it also offers a wide selection of quality short-term, student, travel, and dental plans. You can obtain free instant quotes and side-by-side comparisons of the best available prices. You can also apply right online but if you have questions you can talk to a live customer service rep who can help you find the right plan for you. Worth a look. ChangingCourse.com/recommends/ehealth

 

A little knowledge that acts is worth infinitely more than much knowledge that is idle.
~ Kahlil Gibran

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The Changing Course Newsletter
Copyright 2004
Lisa Tarrant, Editor
Valerie Young, Publisher
info@changingcourse.com
www.ChangingCourse.com
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Montague, MA 01351

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To dare is to lose one's footing momentarily. To not dare is to lose oneself.
~ Soren Kierkegaard

Guest Article

How To Know If You’re Living Your Life On Purpose With Passion – 11 Key Signs

By Kathy Baker

What are the signs that you're on the right track and on the way to, or actually already living your life with true purpose, real meaning and passion, and fulfilling your true potential? You'll know when –

1. You're totally obsessed with what you're doing – time just flies by and you're on a 'high' when you're doing your 'thing' you love. To you it's not 'work' at all because you're enjoying every moment and spending your time doing exactly what excites and makes you happy. It's what gets you 'springing' out of bed in the morning, and when you're away from it, you can't wait to get back to it …

2. You're totally hyper focused and in a trance-like state when you're doing what you love. You feel like you've been transported elsewhere, and your immunity to distraction is on 'high'. Often you may not hear people around you speaking to you, and only realize when you find yourself being roused and brought back to the sound of the words "Are you listening to me? Hey, did you hear what I just said?"...

3. You've got a strong underlying Belief, all the while, that this IS definitely what you're meant to do …

4. You keep a strong clear Vision afloat all the time of where you want to get to - even when you're dog tired and exhausted, events and circumstances aren't flowing, things seem to not be going your way, and people are against you ...

5. You just keep going when the going gets tough, and keep getting up and on with it …

6. You surprise even yourself at your unfailing persistence to keep going and you feel propelled by this inner life force that is driving you ...

7. Despite the hurdles, trials, tribulations and frustrations, you look back with a smile and know that you've really enjoyed the experience anyway. You know deep down inside that you're going somewhere worthwhile and what you're doing has meaning and purpose ...

8. Things just seem to fall into place easily and just happen 'serendipitously' - people appear, telephone calls come, offers of support and guidance present, new relevant resources are introduced to you. You stop for a moment and you're in the right mindset to see the flow of what's happening and you smile and muse with sincere pleasing satisfaction …

9. You see that what you do makes a real difference in the lives of others beyond what you imagined. You give real value. Their feedback says it all and you're constantly amazed with great humility …

10. Sometimes you have a clear vision of what you want, but the pathway there isn't always clear. As chapters unfold and phases roll out and define themselves, ones you didn't even expect, you stay open to guidance …

This one is a bit tougher –

11. You trust and you're never disappointed with the outcomes and where you find yourself going. Even if your passion or purpose is a bit off the acceptable 'mainstream' track and you're not sure exactly where you'll end up, you go for it anyway with perseverance and patience. Even if you don't know exactly where your hunches and intuitions are leading. You're fascinated by the journey and your faith seems to balance out the odds even when it seems you're going against all the odds.

I came across this great quote three times recently (3 times - aha! – that’s a sign!) –

"If you follow your bliss you put yourself on a kind of track that has been there all the while, waiting for you, and the life that you ought to be living is the one you are living. When you can see that, you begin to meet people who are in your field of bliss, and they open doors to you. I say, follow your bliss and don't be afraid, and doors will open where you didn't know they were going to be." (Joseph Campbell)

Doesn't it make sense that if you LOVE what you're doing, you'll do it more often, more easily, and keep getting better at it? When you do so, the value you give to others will grow amazingly and exponentially.

In a business context, your perceived value to your customers, clients or subscribers will increase naturally.

So the key is to start doing what you love now. Take action! Make yourself immune to distraction! Get on track and be committed …

Sure, it might not result in a successful or even million dollar business overnight, but over the course of time, it's entirely possible, and it's happening all the time. If others can do it, so can you!

There will be nothing more satisfying than turning your calling, purpose and passion into a rewarding and prosperous business or career venture that you love doing, every single day, and to live the life you were meant to live.

About the Author
Kathy Baker is a Success Coach (Business/Marketing/Personal), Marketing Practitioner, Writer, & Law of Attraction Practitioner based in Australia. She practices Intuitive Marketing with Integrity, & specializes in Niche Marketing & Information Product Marketing. She works with success & freedom seeking entrepreneurs & individuals in helping them find ways to achieve their dreams. You can contact her at coach@allinteractivesolutions.com and find more details about Life purpose and passion at AllInteractiveSolutions.com.
 

Only I can change my life. No one can do it for me. ~ Carol Burnett

Upcoming Workshops & Teleclasses

Making It Better
Barbara Winter's Field Trip for Your Entrepreneurial Spirit

Small, Sassy & Profitable?

Would your business be better if you knew...

  • How to find inspiration all around you?

  • How to make your business a creative adventure?

  • How to use your business to make a difference in the world?

  • How to market through attraction?

  • How to gather support for your dreams?

  • Dozens of ideas for enriching your business daily?

  • How to form creative collaborations?

Come to Making It Better and you'll learn how to integrate more of those things into your business, as well as learn how to Outsmart Resistance and to Operate from Your Entrepreneurial Core. All of this learning takes place in a highly interactive setting with plenty of attention to the specific challenges of your business.

Las Vegas, Nevada
November 28-30, 2006

Learn More at BarbaraWinter.com/special_events_lasvegas.htm

 

Live in the Moment and Not in Your Thoughts

Can you imagine what it would be like to live your life in a way that you stopped second-guessing yourself? Where you live your life directly rather than think about whether you should or shouldn't or should have or shouldn't have? Where you stop going for other people's approval or even your own and live your life from your truth rather than trying to fit in?

This workshop is an exciting exploration designed to open the door to living in the moment. Join internationally acclaimed seminar leaders and consultants Ariel and Shya Kane for an exciting exploration that opens the door to living in the moment.  Authors of the groundbreaking title, Working on Yourself Doesn't Work, A Book About Instantaneous Transformation, the Kanes are expert guides who with great skill and humor bring people through the swamp of the mind into the clarity and brilliance of the moment.

$125
Saturday, November 4, 2006 from 10am - 6pm
Clarion Hotel in Northampton, Massachusetts

You can register online at Ask-Inc.com or contact Bonnie Druschel at (413) 427-7584 or via email: sundazestudios@comcast.net

 

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The View From
the Other Side

“You can’t be afraid to be different when you're starting a business – you need to be creative… Sometimes you have to go off the tracks – it’s part of being an entrepreneur!”

~ Twenty-four-year-old ventriloquist Alicia Dacoba from Paw Paw, Michigan started ventriloquism at the age of nine with a $13 puppet from Montgomery Ward. Her full-time business, "Alicia and her Live Talkin' Critters," has been featured on The Tonight Show, the BBC, and elsewhere.

 

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Resources for a Change


Real Success Without a Real Job

This affirming book byreal-success-without-a-real-job-image1 kindred spirit Ernie J. Zelinski is aimed at those of us who are “organizationally averse.” In it this engaging Canadian challenges and inspires you to create your own dream job or operate an unconventional business, gain the courage to escape the corporate world so that you don’t have to spend the rest of your life in a cubicle, and restructure your life so it has meaning, direction, and joy. I highly recommend it. Visit Ernie online at Real-Success.ca and find his book in the Changing Course Bookstore at ChangingCourse.com/bookstore.htm

American Institute of Floral Designers (AIFD.org) is a nonprofit organization that promotes floral design as a career. Every year the trustees of the American Institute of Floral Designers (AIFD) Foundation, Inc. (AIFD.org/aifdfoundation.htm), offer a scholarship to pay for registration to the organization’s annual conference. The 2007 AIFD National Symposium, "The Edge of Paradise," is being held in Palm Desert, California from July 7-11. In addition to the registration fees, AIFD Foundation may help defray the cost of attending Symposium up to a total of $1,500, based on funding availability (AIFD.org/2007symposium.htm).

Calling All Paris Lovers Sally Peabody, Paris Specialist, travel writer, tour guide, and author of Tour de Thé, Taking Tea All Over Paris has teamed up with the founder of the New York City-based TEA Women Network (and tea lover) Ellen Schultz to present a spring tour called “Tea… Chocolate… Paris!” Even if you don’t do the tour this is a great example of combining multiple passions into multiple profit centers and of teaming up with others who share your passion. (YourGreatDaysInParis.com)