If you have noticed the world around you, jobs are getting harder to find and corporations are not doing all that well. As always, society continues to realize its dreams and aspirations through innovation and small business.
If you are growing tired of shrinking paychecks, undue work pressure, and the possibility of not having a job at all, you might have begun to toy with the idea of starting your own small business. Of course, we all know that starting a business is easier said than done, and there are some clear markers of entrepreneurs who will prove to be successful.
Let us take a look at some of the pressing questions which help you decide if you are truly ready to be your own boss.
Do you have the personality?
To start a business and be successful in it, you need to have certain personal characteristics. You need to be open to new experiences, be ready to take risks, and also be extremely creative in your approach. Most businesses do not survive beyond a few years, and this is partly because small business owners tend to give up easily when they are disheartened.
As a boss, you will often feel very lonely and you will need to make some very tough decisions. To counter loneliness and uncertainties, you will need to be tenacious, resolute, and determined in your approach. If you think you have these personal characteristics, you are probably ready to ask yourself the next question.
Have you got the experience?
Do not start your business on a whim. Make sure that you have a solid basis to back you up, in the form of relevant experience. While it is not possible to have relevant experience in everything that you wish to do, you should at least have had some experience managing a team, handling employees, being a leader in your own way, or some kind of training for whatever you want to build and sell, or offer as a service. Experience helps you to approach your business with confidence, which is something that you will require on rainier days.
What about the funds?
You may have the sunniest personality and the best experience one could wish for. However, if you do not have funds to start your business or if you do not have savings to sustain yourself for a year or more, do not start a business. Having savings to sustain yourself when your business is still growing is very important. Moreover, even if you start out very small, you will still need to invest in basic technology, consultancy and marketing. Figure out a way to keep yourself financially secure when your business is still growing. If possible, stick to your job and start your business in parallel.
What's your business and marketing strategy?
If you think you have the personality, experience and funds to start a business, ask yourself if you have a good business strategy in place. This is when you need to start getting your hands dirty, and do your homework. Come up with a business strategy that will work for you, and make sure you have a marketing strategy in place. Your branding and marketing strategy should reflect your personality, and being a boss is also about projecting your magnetism onto your brand.
Do you have the technology and manpower?
This is a question that most business owners do not ask themselves. They are often confident about their personal qualities and experience, the investments they can make, and also their business strategy. However, they often forget that even the smallest business needs to have a couple of computers, a business phone and a pleasant and informed voice at the other end which can make and receive calls. If you are ready to be your own boss, do not waste your time making calls to your leads or receiving them. Hire a virtual receptionist service like ours to ensure no lead or prospect is missed. Our virtual receptionists also work with CRM so that you can offer the best customer service without even having anybody on your payroll.
Finally, after you are done asking all the questions, start to seek help and advice.
Get a lawyer, a tax consultant, a marketing advisor and a virtual receptionist to ensure that your business is registered, marketed and operated the right way. After all, to be a boss, you have to think and act like a boss. Don’t end up filling up all those tax and business registration forms yourself. Do not spend time making and receiving calls.
Seek help, for that time is better spent in strategizing, networking, and running your business.