Starting your own business can be a frightening prospect. Once you begin on that road you will not be able to truly relax for a substantial length of time. You know it’s going to require lots of dedicated time and hard work. Should you or shouldn’t you do it?
There are rarely absolutely right answers and giving perfect advice without knowing precise facts is impossible, but I would say that some points are normally good to consider.
In my view, simply feeling stuck in your PAYE job or being sick of the daily commute is not reason enough to start out on your own. Sometimes simply thinking more positively or talking to your Boss honestly and openly gives you the right solution. Maybe changing your PAYE job for another PAYE job is exactly the right solution for you. A new role that pays a performance bonus or taking a share offered in someone else’s business could be perfect.
You do need to be the right type of person in the right place mentally and physically and the market needs to be ripe and ready if you are really to succeed in your own business.
All that said, if you are not frightened of hard work, putting in the hours and any of the following points sound like you, then running your own business could be the best decision you’ll ever make.
- You’re always thinking – Entrepreneurs can never stop thinking. It’s a blessing and a curse.
- You’re independent – you see potential and solutions rather than always problems – you will try to solve problems on your own and have the courage to put your solutions into practice.
- You’re passionate – successful small business owners are truly passionate about what they do and will do everything possible to make it work.
- You’re motivated – you don’t always need someone else to get you thinking or moving.
- You’re organised – in the beginning you’ll probably rely on yourself to build and manage the customer base, manage costs and finances etc.
- You can use common sense as well as your professional skills.
- You are capable of seeing and believing that there is a gap in the market and feel you can carry out a task better than others who are already doing it or you have found something new to do.
- You can afford to take risks – if you don’t have to worry about supporting others take advantage of this time in your life – you have the chance to be adventurous.
- You possess an incredible work ethic – you don’t mind putting in 12-hour or longer days multiple times a week.
So go good luck, enjoy the journey and remember – As you get older it’s the things you didn’t do that you are most likely to regret!
Bucks Conferences is located within the grounds of Princes Risborough Golf Club and provides Business Mentoring Services/Sales Training and great value space to hold meetings or conferences. For information call 01844 346989 to discuss our facilities or visit our website www.bucksconferences.com for more details.