Leaving your job and starting your own thing is the dream of many ambitious adults. Of course, having this kind of freedom sounds like an excellent idea. The money you make lands up in your back pocket and you have total control over your income and your success. But this doesn’t come without some kind of price. Running your own business is as much a challenge as it is a reward.
No matter how fantastic your business idea is or your innovation is, you’re likely to have to keep working your normal job while setting up your own entity. And this is the most difficult part of the whole process, and it often continues for a long while. Because leaving a steady income is a dangerous risk in today’s world. What’s more, finding a new job should things go awry can be extremely difficult. So you have to transition to owning your own business and you should expect to experience quite a bit of stress. What’s more, it can become worse as you might begin to despise your day job and become more invested in your own project.
It’s good to have a realistic plan on how to make the move from employed to self-employed. By following a concrete plan you can keep yourself on track and you’ll remain motivated as you move closer towards your goal.
Here’s what your plan should include in the beginning, if you want to realistically end up as a business owner.
Your reason for starting your own business needs to be sound. It doesn’t matter what your reason is, it matters that it’s a driving factor towards your success. It is only through knowing and understanding exactly why you’re embarking on this journey, that you will remain focused, committed and motivated. Once you have a clear idea about why you’re doing this entrepreneur thing, write it all down. Describing your reasoning will give you the clarity you need to keep you going when obstacles occur in your path.
Make it personal
Every entrepreneur has their own personal reasons for starting their business. But in today’s market, it can be quite difficult to remain unique. Your value proposition might not be the most unique thing about your business. In fact, how you brand it, how you market it or how you deliver it might be the real selling factor. That’s where you need to focus your attention. Find your personal branding and what it is that makes you stand out. Perhaps it’s a handwritten thank you note to each and every customer, or in a B2B scenario perhaps it’s investing greatly in a stellar client engagement strategy.
Find a like-minded community
Being an entrepreneur doesn’t mean being lonely. In fact, the more successful you become the more you’ll end up needing quite a few people to help you keep your business growing. Find a community who will underpin your efforts, support you and even mentor you. Being new to the game, it’d be wise to consider joining a mastermind group. This is like a peer-to-peer mentoring group and the people involved attend these sessions to brainstorm, share advice and overcome common obstacles. Immersing yourself in this community while you’re still planning the start if your venture is an excellent way to remain motivated.
Daily goals and checklists
You need to do an inordinate amount of research before you start a business. Then you need to fill in a never ending pile of paperwork and suddenly become an expert in business legalities. You can’t do these things quickly. So rather, while you’re still working your normal job set some daily goals that’ll help you slowly get through the paperwork and admin. Take on a part-time course in business know-how and begin contacting the authorities and so on who need to sign off on you being allowed to open your business.