As we start 2013, many people are dreaming about launching their entrepreneurial pursuits. Bravo! Go for it! I just read an article, January is the Perfect Time to Become Your Own Boss by Melinda Emerson. The advice was solid, as usual. I was reminded about the financial wisdom she shared during Brand Camp University in 2011. This blog post, Are You Living Your Passion?, is a repost of my summary from the conference. Now may be a good time to start a business, but are you ready? Read on…
I attended Brand Camp U ’11 Detroit with Hajj Flemings (founder) yesterday . It is always good to take a refresher course to see what is happening in the business, technology and social media spaces. While the focus was not personal money management, I have a few take-a-ways to share.
Brand Camp U `11 Detroit was loaded with industry experts. Some of the speakers included Melinda Emerson host of smallbizchat# and author of Become Your Own Boss in 12 months: A Month to Month Guide to a Business that Works; Josh Linkner, CEO and Managing Partner of Detroit Venture Partners and author of Disciplined Dreaming: A Proven System to Drive Breakthrough Creativity; and Cali Lewis, CNN and Fox Tech correspondent and host of Geekbeat.tv. The conference focused on owning your identity, unleashing your creativity, and living your passion.
All of the speakers were impressive, but my take-a-way is from Melinda “The Small Biz Lady” Emerson. Melinda has been an entrepreneur for 13 years and started her business during the fastest growth spurt in Woman Business Ownership. Women owned business in the Unites States increased 20% from 2002 to 2007, compared to only 5.5% for men, during the same period (U.S Census Bureau). Melinda shared her financial wisdom on what is required to increase your chances of business success.
• Plan your launch for at least 12 months
• Get real about your finances
• Have an emergency fund
• Have exceptional credit. FICO score greater than 700
• Eliminate all debt
• Have other resources to keep your household running for 1-2 years
• Know your numbers
This conference inspired me to continue on the passion plan. There is genius locked up in all of us. You were created for a purpose and no one can do what you were designed to do better than you. Is your passion still alive? What about your creativity? I hope you are still able to locate that dream within.
Whether it is starting a business or something else that gets your creative juices flowing, the first step to truly living your passion is to get your financial house in order. The tips Melinda shared will point you in the right direction. Take the necessary steps to manage your money wisely so that you can live the life that you were created to live.
Samirian – The MoneyWise Teacher is President and founder of BudgetWise Financial Solutions where we teach people to manage money wisely. Samirian is a financial educator, blogger and soon to be Author. She enjoys golfing, reading and cooking. Learn more at www.budgetwisefinancial.com