You are ready to take the plunge and take charge of your life. You’re tired of working for someone else and want to start your own business. Consider the following items before doing so.
Are you doing it for the right reason?
Starting a business is hard work and takes a lot of commitment. Do not assume to that the time you spent working for the old boss is now free. Commit to it more than you did your previous job, or you are in danger of losing it.
Can you weather potential financial set-backs?
Starting a business takes an ability to weather financial storms. Ensure that you have plan for some financial stability. When the lean times hit, you know what you are doing. You know where the money will come from during these down times. Keep your eye on the long term goal to get through the lean times.
Is your concept viable?
It is easy to have a great idea. An idea is not a plan. Be realistic with the idea. Ensure there is a plan that can develop from that idea. If there is, work it until it blooms and flourishes. Do your homework and figure this out before embarking on your new direction.
Are you being realistic?
Think of all the possible things that can stand in your way. What are those obstacles? How do you overcome them? How are you supporting yourself? Have you thought of all regular expenses that you know are responsible for? It is easy to over-look things like insurance, vacation time, paid holidays, and other perks from our current employers. Take a close look and carefully weigh out the pros and cons. Ensure that you have planned for all needs.
Is your support system in place?
Developing an idea into a reality is lots of work. You will get discouraged along the way. Who is your cheerleader? Are people encouraging you to continue? Are the people you are responsible to in agreement with you? Taking an idea into reality is wonderful. Just ensure that you won’t be celebrating alone.
If you are looking to start your own business and don’t know where to start, contact us! We would love to help you figure out the steps you need to take to make your dream into a reality!
