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Starting a Business – How to Be Your Own Boss

Be you own bossMany of us dream about one day being able to quit our 9 to 5 jobs and strike out on our own by starting a business. Very few actually turn this dream into a reality.
Here’s how you can be one of the few to be your own boss.

Know what you want

• Make sure running your own business is what you really want. Does it fit with your values and priorities? Have you been thinking about it for a while? Do you have the passion and commitment to make it a success?

Think about the “what” before the “how”. Don’t make the mistake of thinking about all the things that could go wrong with your plan before you even have a plan! This is where most people encounter their first stumbling block. They’re so focused on the perceived obstacles and limitations, they think they can’t succeed, and so let fear and doubt hold them back from taking action.

• Choose something that you’re good at and that you enjoy. This ensures that you’ll stay passionate about your business and be happy in it.

Do your homework

Write a plan. Write down specific goals with clear strategies. When do you want to start trading? How much income do you want, and by when? How are you going to raise finance? What do you need to do to upskill yourself?

• Do your research. Make a habit of learning about business, sales and marketing on a daily basis. The more knowledge you have, the better your chances of success.

• Understand that you don’t have to quit your day job straight away. Many businesses are started by people who work full-time. You may need to make some sacrifices in your lifestyle for a while, but the potential rewards in the long run can be enormous.

Take action

• Make it real. Lots of people talk about their grand plans and business ideas, but never seem to actually do anything. Even if you haven’t finalised all your plans, it’s a great idea to register your company with the Companies Office. You can do this online for a nominal sum. Now you have something tangible to build your vision around.

• Expect to make mistakes. That’s right – setting up a business is no easy road, and there’ll be times when you find yourself frustrated and dispirited. It’s at these times you need to keep the big picture in mind, learn from your mistakes, and remind yourself why you wanted to do this in the first place.

• Focus. Do something every day that will move you one step closer to your goal to be your own boss.

Career coaching and wealth coaching can help you through the process and give you the confidence to go for it.

If you truly want to be your own boss, there is really nothing stopping you from getting there, except yourself.

What do you think? Let me know by leaving a comment below.

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