Are you unsatisfied with your current job? Or maybe you like your job but the wages are low. If any of the above applies to you, then have you ever considered starting your own business? Or put simply: Self Employment. If this is a thought that has yet to cross your mind, you may want to give starting your own business some serious consideration. Here I give you 3 important points to remember for the road to self employment success.
At the beginning
Starting your own business starts with curiosity to what you can do, when you are the one in control. So if you remain with that thought in mind and you are serious about self employment and starting your own business or at least learning if running your own business is something that you are capable of doing, you will want to continue reading on. A few important points that should be taken into consideration by those who are interested in leaving the traditional workplace to start a business are outlined below.
Tip 1. Calculating Your Costs
Tip 2. Expect A Slow Start
Before we get over excited at the endless prospects of running your own business, its worth taking the time to figure out just how you will do this while you are still in employment. Don’t be put off by this as i managed this successfully when i reduced my working hours self employed in the building trade. Remember that you will likely not see success right away.
Most businesses take time to see profits and success. You have to market your business to the general public, set up a website or your storefront location therefore the first year is generally slow. That is why it is important to estimate your costs making sure that you also have enough money to support yourself and your family until you are able to start making a profit with your own business.
Tip 3. Having A Fall Back
Another one of the many factors that you will want to take into consideration, when trying to determine if you should start your own business, is fall back. Self employment comes with repressibility’s and that includes covering the unforeseen events like, what happens if you are unwell and can not work? This is where a healthy bank account with enough money to cover you for a short term blip is handy to fall back on.
This has been the case for myself when i had an accident which left me out of work for six weeks. Admittedly, this would have been quite bad in my first year but as time goes on, your business grows, and so does your bank account!
Self Employment has endless possibilities
Reach For The Stars
What is nice about starting your own business is that you, literally, have an unlimited number of options. For example, did you know that as well as selling a product & Or a service you can also make money selling related items on other suppliers behalf while all you do is have the listing on your webpage, but you still need to bring value to the customer.
Many startup businesses include gift shops, takeaways, handy man, builders, cleaning services, accounting services, and so forth. In addition to the type of business that you would like to start, you also have a number of different options when it comes to operating a business. Many entrepreneurs run online businesses, storefront businesses, or even both. If you are familiar with social media platforms, then this is now a head start as everybody knows somebody.
In all honesty, the decision is yours to make. With that in mind, the decisions that you do make can have a huge impact in determining whether or not your business, should you decide to start one, is a success. So now you have it, its Up To You!