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Answer from our Guest Expert Peter Soh of AdviseInc.com

PAGE 3

What Type of Drive Do You Have?

Because of my own experience, and having spent time teaching "How to Start a Business" seminars for the US Small Business Administration, I know it's very hard to start any business. To be successful, you have to be dedicated and driven. It's a dog-eat-dog world out there, and competition is especially fierce in financial services. Don't be surprised when other companies, such as life insurance, brokers, or banks, approach your initial customers. You have an advantage in that you're small and fall underneath the radar, but you also need to have a strong gut to weather these storms. This uncertainty comes with being independent.

Again, you need resources. You can't do it on your own and you'd fail if you tried. I refer clients all the time to other pros who can service them when I can't. You may lose some money doing this, but you serve the client's best needs when you turn it over to experts. In turn, clients will reward you with referrals in your expertise. "I'll scratch your back if you scratch mine." It's as old as time, but we always think selfishly first. Keep the client's best interest at hand.

Think carefully about all these matters as you consider your move. If you're still up for it, then go for it!

Hope this helps!

Peter Soh of AdviseInc.com

This Coffee Talk was inspired by an actual posting in Idea Cafe's CyberSchmooz. If you'd like to dish up some more advice for this person, click here and post your reply today! The more, the merrier!

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