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  • #964091
    Jamie W
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    My jump to flying solo is really in its formative stage at the moment. Is there anyone out there who struggled to figure out what path they would take? My skills set is known – a treasury risk management professional with about 15 years experience. My confusion is whether to leverage off my current skill set, or leave it behind and re-skill and do something completely different – which obviously takes time. Any ideas on what steps I could take to get clarity of direction?

    #1003041
    peppie
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    What do you want to do, what is your interest/passion?

    Then look around to see if there is a niche market for what you do. While you are looking keep an eye out around you for a niche that you did not expect to see.

    In other words, you need an idea and the people who need (and are able to pay for) what you you are offering.

    #1003042
    Rachel Reeves
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    peppie, post: 2029 wrote:
    What do you want to do, what is your interest/passion?

    Then look around to see if there is a niche market for what you do. While you are looking keep an eye out around you for a niche that you did not expect to see.

    In other words, you need an idea and the people who need (and are able to pay for) what you you are offering.

    Yes, Paul makes some really go points here. It might partially depend on whether you are reliant on that pay cheque at the end of the month also.

    Actually, I haven’t yet established a niche. I am working through this one with a Business Coach at the moment. I seem to be doing a little of what I love and are at the same time using some of the skill set that I have developed that I don’t necessarily enjoy so much. I think that recognising what it is that is your passion and establishing the niche in that area is often the hard part. As I see it establishing a niche doesn’t always mean that it is all you are going to take on, it just means really that you offer that specialty area to your clients.

    #1003043
    Lisa Murray – Biz Coach
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    Hi Jamie
    I took the flying leap about 18 months ago, not having a clue where I’d end up. I made a huge list of possible ideas (I got this from ‘leading an interesting life’ – being very observant about both opportunities and interests) and then started implementing those I felt ‘had legs’ – the first two weren’t my best ideas (although I will go back to the second idea and implement it in a totally different way down the track a little), however my third idea (business coaching) has taken off really well and quite quickly.

    I found it faster to dip my feet in the water and find out what I didn’t like. I’d spent years before that thinking ‘I’d like to work for myself’ without really ever making a move.

    I’ve written an article on some steps to take if you’d like more specifics… It was first published in the Australian Small Business Opportunities magazine in 2008.

    If you’d like to chat about your situation, feel free to give me a call – I’ve been where you are now!

    cheers
    Lisa

    #1003044
    Danny
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    Hi Jamie,

    I’m also in the formative stages – I’ve got an idea that I’m pretty happy with, but have not yet launched it.

    To get clarity about where you are headed, perhaps you should speak to people who have been down the paths you are interested in. So if there is a well-defined career path available to you in treasury risk management, seek out some senior people in that area, and find out what’s involved in getting to that level. Similarly, if you are thinking of doing your own thing (and it sounds as though you are), find some people with similar experiences to understand what they went through. Forums like this are a great place to start.

    Let us know how you go.

    Danny

    #1003045
    Burgo
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    Lisa I have just read your article and believe others here should as well some very good advice.

    Believe it or not I seem to be going through something similar. However Im at the other end of the spectrum. I started ,ran and spent 23 years enjoying my business. I employed others and trained some to start their own businesses.

    I have even started an association and have it running smoothly, and have now a young lady to help me further develop it, but I have reach a point in my life where I need to do something new and hopefully exciting.

    So how do you find something new and exciting to do once you pass retirement age?

    #1003046
    Lenore K.
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    Hi Jamie,
    Whilst making up your mind why not find a private sector niche market using what you already know or move to an industry you’d find interesting? What about Olympic or International Soccer Bodies? Just thinking diversity and outside the square…
    Good Luck!
    Lee

    #1003047
    Lisa Murray – Biz Coach
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    Ah Burgo – yes, if you’re used to being a high performer and achieving your goals, then retirement can look pretty dull!!

    The first thing to decide is whether you want to do something for money or for love ;-)

    There’s zillions of ideas out there, and plenty of people who need help. You have the benefit of experience – you’re pretty good at sharing it on this forum. Have you considered where else you could share it to make a difference in the world?

    I’m a great believer in creating a personal vision – you know, that stuff they’ll talk about when you finally kick the bucket!! It’s important to choose something big, that will motivate and inspire you – and keep you ‘addicted’ (in a good way) to moving forward and living your life.

    And also consider who else you can ring in to achieving your dream – sometimes a dream team is better than a solo entrepreneur (doesn’t mean you have to start a business partnership though – there’s lots of great models that can work…)

    Hope this is a start – I’ll have an article ready on personal vision sometime in the next few weeks which will offer a few more step-by-step ideas – I’ve been invited to talk about it, so need to get cracking!! If I remember I’ll post the link (reminders welcome around the end of March!!)

    cheers
    Lisa

    #1003048
    Adam Randall
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    My thoughts and they are only an opinion from past experience, they may be wrong for you.

    I would go with what you are good at rather than your passion.

    I had a passion to renovate a house about 6 years ago and took a year off to do it, although I often now think maybe it was a passion for power tools and the house was just an excuse to buy and use them….

    At the end of the year I was still passionate about renovating, I was so passionate that if anyone dared to critisize anything I had done, their head would be immediately bitten off. In the end everyone said “gee you have done a great job” and I knew it was because of my “passion” that this was happening.

    It was a massive house (@380sqm) and I attempted everything myself. If you looked at what I had done with one eye closed and unfocused the other one, it was a masterpiece, look too close and you could see every area was completed by an non professional.

    I went back to IT which is what I am good at, because thats what people pay for, competance, not passion.

    Some very valuable things I learnt about business while renovating:

    1) Too much passion in one area can lead to breakdowns in other areas of your life.

    2) Time is money

    3) Dont do everything yourself

    4) Given enough time we can all be pretty good at anything we try but refer back to point 2

    5) What ever you do in business, project managing and planning should play a very big part.

    Point 5 refers to the start of my grand renovation (might post some pics later on) The entire planning of the renovation consisted of “gee I reckon that bird bath could do with a lick of paint” 12 months later the project was complete without a single moment of planning…..

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