I think most people have dreamt about finding a business that could be their own. Of learning the risk and reward of being the boss. This year I’ve started 4 different ventures, with different committments, and significiantly different barriers to entry. I want to share them below and also say that owning your business is VERY reachable for anyone who wants it.

1. Bike Shop

Partnering with two great guys to start a local retail bike shop is thrilling. It’s a part of a life long goal to be a small business owner combined with a passion for the lifestyle around cycling. But it’s barrier to entry is the highest. It takes a significant amount of operating capital to get started, which is being funded by a bank. Once it is up and running its potential and influence is significant, but it’s risk going into it is the highest as well.

2. Kick Action Studios

If you have a well documented expertise in a certain field it is possible to bootstrap a consulting team to help others and move them towards effective results. I’ve partnered with Scott, who is a real pro in this as well and we are having a ton of fun being a part of great projects. The risk here is only as high as the expectations we set with each client, the overhead small, and the reward opportunity is high. But the business model is based upon our direct time, which is limiting as a model. Getting into this business demands not only expertise, and ideas, but a proven ability to produce.

3. Fashion Startup

Yes, you read that right. With two other partners I’ve invested in an idea for a fashion startup that will have several phases to it, but if well lead has great possibility. It will be an intelligent retailer of sorts based on style, but there is significant technology, documenation, research, and patience required. The risk here is only what money I put into it and as we get to the point of having investors. My partners are key here, but the possibility of it taking off is still distant. Getting this to run as a business not only will take money (more then I have yet), but also significant technological development, and more. Barrier of entry to start is low, but to turn a consistent profit high.

4. Nutrition Network Marketing

Helping people step into health is a real passion because of my story and journey since I turned 30 (2 years ago). I’d always heard network marketing said as a bad word and hadn’t actually paid attention to the business model behind it. What I’ve found in Visalus is a very strong business and partnership model, a low barrier to entry, and a platform that is growing like crazy. When I thought about starting into this program my first thought was “Dude, you are too busy!” But their model is based on a growing platform, a top of the line product, it’s something I care about for myself and others, they are an incredible partner and the financial barrier for starting the business is minimal (comparatively). Honestly, I think anyone who wants to be an Entrepreneur should try network marketing first because of these factors. From the relational skills, training you get, minimal financial investment, and inherent reward you get just from the momentum of the platform - the barriers of entry are the lowest for sure.

Summary:

In all four examples here are the most important things to consider:

2. Investment: How much money does it take to get started versus the personal reward you can experience.

3. Time: Three of my businesses are part time, one is full time. If you already have a job you can easily start a business, but make sure it’s model allows for you to invest as much or little as you can day by day.

4. Expertise: Having the idea can create the business, wanting to become excellent at business requires connecting with and idea or it’s platform. You don’t have to be an idea person, but you do need to learn the ropes of business.

Rank: If I was going to rank, in a nuetral field, which of the businesses above would be ideal for those looking to build entrepreneurial skills and experience that would translate into lifelong lessons here is how I’d rank them.

1. Visalus: Network marketing isn’t a bad word if you aren’t lazy with it. Learning to monitor cash flow, value people, hustle, support of a team, recognize a good product, and drive towards established goals all for a minimal investment makes this what I’d conisder a KILLER first step. This has more practical business learning then an MBA. It has an established and proven business model, a killer product, well established goals, support built in, training and generous rewards. (seriously - I wish someone had dragged me into a system like this in my twenties.)
2. Fashion Startup: Having an idea, finding some people who know something about it, and helping it get start with a small invesment is the next low barrier to experience opportunity. It’s challenges are that you are pretty much on your own to make it happen, create the goals, and build the model. It’s the blank sheet of paper.
3. Bike Shop: If you have saved enough, have a partner, and are looking to go full time starting a retail business is a rewarding experience. But you are launching into a competitive market, thousands of products, dense spreadsheets, inventory, and the fight to establish brand and strong margins. This is the highest risk, more then full time, failure is not an option - option. I’m LOVING IT, but it is definitely not for everyone.
4. Consulting: Establishing expertise, honestly, is more to do with luck then capacity. I’ve been blessed to connect with people, learn a combination of unique things, that creates a value for people in digital spaces. This is the hardest to get into because it requires not just luck, but results and connectivity.

A wise friend has told me that being an entrepreneur isn’t about taking risks, but learning to manage them. Anyone reading this can start a business, bring extra cash into the home, and create valueable experiences for people today. Check out my Entrepreneur School above. It’s were I’ll share short posts a couple times a week in what I’m learning and the journey I’m on.

thinking of selling my Van Dessel cross bike. anyone interested? (its a 56 Gin and Trombones)

I’ve recently been asking people to take a 90 Day Health Challenge and you know what I haven’t heard yet? Not one person doesn’t want to make a change. But eating the same food, and having the same approach to fitness is not going to change anything.

Fitness is a HUGE change to make - but is only half of it. To see lasting progress, the kind that takes weight off and keeps it off, you have to change your nutrition to.

That’s honestly why I’m excited about the Body by Vi challenge. It’s a great way to get the nutrition part right and have the encouragement we all need to keep going. The cherry on top is that you can get the nutrition for free just by encouraging others to get healthy as well.

You don’t have any more excuses - what is your goal for a 90 Day Challenge?

Watch the video here on how to get started and then let me know about your goal!