Newbie Needs Advice (long)

[mcc]

Hello,

I have been reading on here for a while now, and I really like this site. I'm 30 years old and have been self-employed in one way or another since I was 19 or so. I have a dilemma and hope to get some constructive advice. Here goes:

I did really well in high school (one "B" in all 4 years with the rest "A", taking advanced programs) and had opportunities to go to college and pursue dreams. However, due to family and financial problems, I bypassed the opportunity and it has bit me in the behind ever since. So, I have always made my own way, even though I've worked regular jobs in this time too. I have been in cleaning businesses for years, and I have my own that my wife primarily runs now. I also have a mobile auto detailing business that I own and operate myself, but it is quite seasonal and often depends on the weather. So, right now things are slow.

I am very much an "idea man". There are plenty of ideas floating around in my head, and I'm constantly thinking of new ways this or that could be done. I've also had plenty of my own businesses and have tried all kinds of things. I find myself constantly reaching out for something because I know that I've not lived up to my potential. So many opportunities were passed by at an early age, and I can only make so much money detailing or cleaning. I really want to do something else, branch off into something more fulfilling and profitable. So, I often work on several projects at a time. Right now I want to start a local networking website whereby people can meet online and discuss issues affecting businesses in my area. I'm also trying to resell a web builder/hosting service, and looking into a business selling promotional tools. Oh, and on the side, I perform inspections as an independent contractor for commercial mortgage companies. People think I'm crazy, but I just love business in all it's many forms.

Over these years I have developed a lot of skills like web building, writing ads, marketing, day to day business operations, time management, sales, etc. I like that I have had the opportunity to do so many things. I've driven tour buses while cleaning them, sold satellite dishes door to door, installed electronics, owned an online watch store, sold at flea markets, cleaned everything from houses to banks, detailed everything from Fords to Ferrari's, pressure washed for restaurants, washed windows, painted apartments and houses, telemarketed for products from home improvements to burial plots, been a meter-reader, managed a marketing department for a $1million/month home improvement company, and much more. I get around.

So, here is my dilemma. I feel that I can't take any one business to the next level because my focus is so distracted by other ideas. Should I commit to one thing and follow it through as far as it can go, should I keep trying new things and see if one takes off really quickly, or could I get into some sort of business as an "idea man", working with other businesses to inject some new ideas into them? Or, maybe you have a suggestion altogether different.

Sometimes I get lost in my own lack of focus. I need help. There has to be a place for a person like me. Any suggestions as to what direction I might need to go are very much appreciated.

[EasyAutoSales]

I guess I kinda fit in the same boat having lots and lots of ideas and a semi short attention span. The truth is, too many ideas can be bad. Even though you've built up a lot of random skills, you won't hit the jackpot business idea by doing everything for a short period of time.

If there's something you actually have noticed which has a huge potential for market, I would see about focusing on that one idea. It seems like you have the network to help you out... now you just need a cause.

Going back to school might be an option as well. If nothing else, you'll get to network with people in higher education and see what they care about.

[mcc]

Oh yeah, your name just reminded me. I also worked with a guy and bought and sold cars under his license. I really enjoyed that, but he gave up his license because he made some stupid purchases on his end. My cars sold fairly quickly and for good profit for what I paid for them. I enjoyed it, but the laws here make it so expensive just to get involved on your own and to get a license. The big car lots make it hard for the little guy to get started. They don't like competition.

All of the businesses that I've had were started for under $1000 each. Maybe even under $600 each if I really think about it. I have bigger ideas, but no money, and I really don't want to go into massive amounts of debt. I would be willing to invest a couple grand if I had the right opportunity that I could focus on. Like you said, I just need a cause.

[cutebeast]

1. Maybe you need to refocus on a certain biz that relate to what you love doing?
2. Instead of have 10 x $1000, maybe 1 x $10000 might be a better choice?
3. What is your own direction or goal when you setup your business?
4. You should just rethink on this part and focus more on something you enjoy doing on a single business point first to built it up. Think and built up idea around your focus point and grow from there.

Don't get me wrong if diversified/growth/profit is what you want or your goal then 10 x $1000 might be better than 1 x $10000

[mcc]

I think that one thing that made me diversify so much was that at one point my wife and I had a cleaning business that was headed toward well over $100,000 a year and was going great. We were cleaning at many apartment complexes, had hired my dad and one of my brothers, and things were going great. One day we walked in and found out that several of the communities we worked for that were owned by the same company were being sold in a week. We lost 70% of our business in one day, as the next company that bought the properties didn't use contractors, but rather did everything in-house. I had to let my dad and brother go. My wife and I barely scraped by. Just to make things worse, the manager at another community we still had got fired and the new manager had a friend that cleaned, so we lost it too. Everything came crashing down at once, and I'm scared to put all of my eggs in one basket ever again.

If you put all of your eggs in one basket, you are more likely to lose everything at once. That was the lesson I learned.

[hl68]

MCC:

After reading your post it reminded me of what my high school football coach would call people moving to different positions “Jack of all trades, but Master of none."

By no means am I saying you are not a master of your craft, but it is hard to become the best at one thing when all your energy is not concentrated on that particular thing, or when your feelings for that trade is temporary as you are looking for greener pastures.

I believe that the best thing is to try to become the best at one thing, learn as much as you can and try to take that business to the next step. At that point when you are established, look to invest in something else if you have an idea. Just my opinion. Best of luck in everything.

[jmfons]

Check Your Pm

[mcc]

Thanks to everyone for their suggestions. I lack focus, and I'm going to have to figure out where to direct and develop a focus. My detailing business could be much better than what it is, but being somewhat seasonal, it means I'll really have to get after it while the weather is cooperative, because the winter kills my business. I will work on a better marketing plan for it and make sure that I make every contact possible right before the weather starts breaking in March-April. Maybe I can make enough money from March-October to get through the really lean winter months. I'm glad my wife's cleaning business is always steady. It gives me leeway to get something else going.

Thanks again to those that responded.