BECOMING YOUR OWN BOSS! ABCs
Not everyone can be their own boss. Some will always need to answer to others, definitely. But, have you found yourself to be one of those people who love doing something so much that you want to make a career out it? Or are you just tired of the corporate world and want to run a business of your own? Good news; YOU CAN. So, whatever your motivation is for wanting to be your own boss, here are steps that can get you from here to there;
· Be a Master over Yourself
Everything begins with you. If you cannot manage yourself, then adding a business to the mix is dead on arrival. Develop a unique sense of self-awareness and personal discipline before anything else. Achieve self-mastery!
· Choose the Area of Application
Clearly identify the business area you want to delve into and what it’s about. Begin to build a network of those that are experts in the field and sow seeds that will eventually mature into connections. You never know when they will come in handy. If you are currently at a job that’s not related to what your business is about, be careful not to burn bridges.
· Learn
How grounded are you in the business you want to run? What would you say your level of knowledge is? Do you need to put in more time to know more about the nitty-gritties of how the core business works? Do you have hands-on experience? Also, the very fact that you are an excellent baker does not make you good at running a bakery. Learn business basics in order to thrive; read books, listen to related podcasts, consult professionals for advice to guide you in the startup phase.
· The Financial Outlook
According to CB Insights, roughly 30% of companies fail because they run out of cash. So, your finance plays a crucial role in starting your business. Do you plan to start the business on personal savings made, income from your current job or a loan? It is important for you to answer these questions and sort out the financial picture before setting up your business.
· WORK!
Depending on the nature of the business, you may start it part-time as a side hustle or you may dive in fully. The key is to work! Diane Mulcahy suggests that starting part-time gives you the opportunity to test your market, the demand for your products and services, and well as marketing and pricing strategies. You may not and will probably not get everything right at the start, but the more you work at it, the more you get the hang of things and a handle on things.
Execute!
You can also read about the importance of SEO to your business, how to use social media to target your customers, and what makes your business website stand out.
