Starting Your Own Business? Answer Some Questions First
So you’ve thought about starting your own business, but have you thought things through completely? Starting a business is not the same as running a business, and there are many things that you have to consider before you even begin.
Now, this isn’t to discourage you, but it’s something to help you determine if you are ready for this kind of commitment. This is because this is what a business represents – a long term commitment that you make for improving your life and the life of your family.
Here are some things that you have to ask yourself before making the first step toward starting your own business.
Is there something you’re good at?
This question should be the first one you’d have an answer to. If you’re good at something, really good, no matter what that thing is, you can always turn it into a business.
Some people are good at bookkeeping, others are good at writing, some are good at creating flower arrangements, others are good at finding external resources for people who are selling their properties. Any of these things can be turned into a business.
The most important question you’ll need to ask yourself however, in order to ensure your long-term success is…
Do You LOVE What You’re Good at?
Let’s say you’re a good bookkeeper. Now answer this – do you love bookkeeping? If the answer is “yes”, then you can move forward with your business goals.
If you don’t really love it, even though you’re good at it then this very likely will not workout for you in the long-run. You’ll get tired, bored and it will eventually start to feel like a “job”.
If that is your situation then what you need do is ask yourself:
What Would I LOVE to Do?
If you would love to do something in particular, but extremely different from what you used to do until now, you should identify it and nurture it. This is because many people have found their passion – and the success of their business – by doing something entirely different from their training.
You might be a bookkeeper (just to take the former example) but you might love flowers and creating bouquets and flower arrangements. If that is the thing that you would love to do most, then that is the route you need to pursue – to become a florist or a special designer for flower arrangements.
Do you have enough money to start?
Along with the financial backing you’ll need time. You will need to learn how to delegate your time productively so every day you are moving forward with your goals. You will need to be your own manager.
If you cannot do this you will not succeed.
If you want to have it only as a part-time occupation, then you should look for something that can be done from the comfort of your home. There are different ideas that could be done like this, and they also don’t require too much of an investment.
If you want something bigger, be ready to invest some money and enough time to make it run properly,
Do you have the support of your family?
When you start a business, be ready to work extra hours, especially if you already have a job and you’re not ready to quit it yet. Developing a start-up business means that you will have to take care of everything, especially if you have a small team and you want to have everything done right. Even if you talk to a business advisor, you will still have to implement everything, so working long after closing time will become a habit.
It’s important for you to have the support of your family, as you might miss important events or you can even forget about different things. If they will understand you and support you, then you will be at peace with this choice. If they don’t support you, they might make reproaches or be unsatisfied about your choices.
Most times, families do not support entrepreneurial spirit from their family members if they themselves don’t have those attributes. Depending on your own family you will have to make the decision whether or not to tell them what you’re doing, or work toward your own success without worry or concern of whether your family knows or not.
Only you will be your own success and your success is dependent upon you. A great business coach and advisor I would recommend looking into is Gary Vaynerchuk