Should I stay in my current established business or start a new business?
Should I stay in my current established virtual support business or should I follow my passion as an integrative nutrition health coach to help change the world now that I am certified as a health coach? How can I weigh the pros and cons to help myself decide?
Build a website for the nutrition health business and spend some time on marketing it. See where it goes. Then ask this question!
I would expand my service range to include nutrition coaching if compatible and capitalise on the existing business profile.
My brother always said, do what you love and get paid to do it.
Why not do both, at least initially? You can test the new business, while using the established business to support your efforts. You can also scale the business back as the new one succeeds.
thank you everyone! greatly appreciated. currently i am working as a virtual business support business and my target market are my school mates health coaches and wellness professionals. this makes me more specialized in my area of work. I will slowly build my health coaching business on the side and decide which step to take once both businesses are at par in income and i can decide which one is best for me to proceed with. thank you all for your support!
Serena, I am glad that you are at least trying to evaluate the options before you dive into the deepend! My opinion is that you evaluate WHY you want to do each. If you're currenly business is built like a business and not just like a JOB, then you should begin working toward making that business self-sustaining. That is, runs by itself without your being there to run it day-to-day. Then this business can support your other busines and your life going forward. Beside wasn't that why you started a business in the first place - independence and financial freedom?
If you'd like to find out more about building a self-sustaining business I would suggest the following article http://yoursmallbusinessgrowth.com/what-is-a-self-sustaining-business/ I hope this helps you with your decision. - Dino
It's very hard to tell you how to decide since I don't know actually know you personally but given my experience with people and through research about human behavior.
I would suggest that you pose questions to yourself. Write them down; whatever comes to your mind related to your professional life of course.
Make sure that you include: "If I do this" and "What if I do this" in your questions.
Be honest with yourself and answer them the first thoughts that pop into your head.
Once done than you have your answers and you'll know what you want to do.
Best of luck. If you need any help, Please let me know. I'll be happy to help.
If your current line of work is "virtual business support", and that is where you excel, could you make your new venture a client of your existing one? If, after assessing the risks, you wouldn't take yourself on as a client (yet), then figure out where your new venture would have to be, or how strong your existing business would need to become in order to take on a non-paying client. If you need direction in your new business, hire a business coach or marketing strategist who can be hands-on guidance and a plan to follow that factors in the workload as a VA. Also, establish a timetable for transitioning between the two businesses.
I agree you should come up with a way to continue your current business while building your dream...It will definitely be a lot of work but the reward will be worth it in the end. Good luck!
Read my free short e-guide to business planning [and idea generation] at