Unhappy in your job? Fed up with the daily routine? Hate answering to the ‘boss’? If you answered yes to these questions, it is likely that you are heading towards a crossroads in your career, and now is the time to make a stand. If you cannot see yourself staying in your current job, and the jobs market looks bleak for the foreseeable future, then it may just be the best time to start your own business doing something you love!
A New Year symbolizes changes in a positive way, so use this to your advantage and take your aspirations and career goals to the next level!
Here are some helpful tips on how to become your own boss in 2013:
#1 Determine what you are best at
The most important thing about running a company is knowing the business inside out. If you don’t know your stuff, you will have no true understanding of what customers need or how to maintain a competitive advantage over the competition – both of which are two vital components when running your own business. Another thing to consider, is that you should ideally like the industry you operate in so it is important that you start a business doing something you are not only good at, but enjoy.
#2 Find the best business fit
Do you simply want to have a self employed status or do you want to create a business that employs others? Do you see yourself running a company alone or would you rather do into business with a partner? These are important questions you need to ask yourself before you take the leap and register a business. Essentially, you need to know what you want to get out of the experience, draft realistic goals, and plan strategically to accommodate them.
#3 Make a business plan
Your business plan is fundamental to the eventual success of your company. Without a plan, you will find it difficult to know how to get from one stage to the next in the most efficient and cost effective way. You will also find it tremendously hard to gain investment and investors’ confidence without your business ideas written down in a coherent and objective manner.
- What to include in a business plan?
- What the business is
- Who you intend to target
- Your objectives as a service provider
- Your mission as a company
- Your unique selling points
#4 Target market knowledge
You must familiarize yourself with those who will buy your product and the target market you need to reach in order to be successful. You need to get answers to the following questions:
- Who will buy my product and why?
- How big is my target market?
- Where in the world will my services do best?
- Is my service something that is to be used in everyday life?
#5 Finance your venture
One of the most essential aspects in starting a company is to have the necessary financial standing in order to build the brand and create the services you need. Organize your personal finances first, then price up the initial investment you need to get going, and seek out investors with the expertise and financial standing you need. Mint.com is an effective site that helps you to track your personal accounts through money management, and as an entrepreneur, it is important that you know exactly how much you are spending and what you are spending money on.
#6 Build your network
Having a strong network is vital when it comes to having a business to run. You will need all the help and support you can muster and whilst all contacts are valuable, it is important that you network with professionals and influence people within your business area of expertise. This will also help you when it comes to hiring.