Every beginning of the year that great idea to develop the perfect business comes to mind, the one that will allow us to become our own boss, manage our time better, enjoy life more, etc, etc.
Launching your own company can be a very enriching experience, but it is necessary to say it clearly: it is not for everyone, some people work better working in a dependency relationship.
Do you want to become independent because you want to have better use of your time? Do you want to be your own boss? Do you want to earn more money?
Whatever the reasons that drive you to embark on this adventure, you must first understand the challenges involved, as well as know what to expect. Ultimately it’s about knowing if you’re an entrepreneur.
There you have a guide with some important questions to ask yourself before getting started. Are you ready to start your own company? Let’s see…
11 Tips For Starting A Business
1. Do you have enough money to start? If you do not have enough money to cover your needs for the first six months (at least), your opportunities are not very great. You need money to support yourself and your family while you wait for your business to start generating income.
Sometimes there is no choice but to withdraw money from the company to live, but it is not the most recommended. A company that starts needs a flow of money to develop, the ideal is to be able to re-invest the money that comes in.
2. How do you know if there is a market for the product or service you want to offer? You must do market research and make sure that people are willing to buy the product or service you plan to offer and at the price you plan to offer it.
Don’t panic, there are many ways you can do a little market research yourself.
3. Can you live without a regular income? If the answer is no, then you are not ready. It could be a long time before I can assign you a salary, which by the way is the healthiest policy so as not to confuse company money (which you need to develop) with personal money.
4. Do you think you can start your company part-time? In this way, you could keep your current job and earn a regular income while you develop your business. If your current job is full-time, you can explore moving to another one that requires less time, and even if your income decreases, it will leave you time to start organizing your business.
5. Do you have a business plan? If you don’t have one, you should make one as soon as possible. We have already said it over and over again, the business plan helps to think about the company, to present it to third parties in case you need funds (a bank or an investor), and offers a roadmap that will guide your steps and help you re guide you if you deviate from the traced path.
6. Can you wait 3-5 years before you achieve success? This is the time that is usually required to successfully develop a business, so you have to be willing to be patient.
7. Are you a specialist in your business? Are you known / or in the community? If this is the case, you could have significant advantages in selling your ideas, obtaining financing, and attracting clients. If this is not the case, you will have to work harder to make yourself known.
8. Do you feel comfortable with PCs managing your own billing, taxes, and accounting records? If you are not comfortable, you must have the necessary money to pay someone to take care of it.
9. Do you have a professional support network? It always helps to be able to count on the advice of someone who has already been in the same situation, share doubts, receive advice, develop a business together, or even find financing. It is always more difficult to work alone.
10. Are you motivated, confident, and have a strong vision and decision-making ability? If this is not the case, it will be more difficult to launch your company.
11. Do you feel comfortable with the Internet? Websites, blogs, and participation in social networks can accelerate the takeoff of your company. Get involved and let your potential customers help you grow your business.
There is a lot of fantasy, and a lot of romantic ideas, around the company itself. Few people know in advance that to achieve their goals they will have to work much more than being employed by another company.
Starting your own company is like starting a steam train, you throw a lot of fuel into the boiler but the train barely moves, then it slowly starts moving and there comes a point where the machine runs at full capacity.
But you get to that point with a lot of work; an arduous and enriching path for those who are willing to embark on the adventure.