Have you got what it takes to be your own boss?

Startup.gifHad enough in your current job? Want to go it alone? Do you have a great idea? We all dream about breaking free from our 9 to 5 jobs and find joy and self-fulfillment by being our own boss. But is that really enough? I don’t think so.

Unlimited working hours, NO holidays and even less money than before is a real prospect for start ups.

Are you motivated? Run your own business and 9 to 5 is not an option, certainly not in the beginning. It is not enough just to want to escape that boring job or unfair boss, you need to be committed to your business and to earning enough money to support yourself and your family.

Can you work hard enough? You think your boss was hard on you, then know this, you will have to be even harder on yourself. You can not switch of from work, you will need to network 24/7. In fact sometimes I cannot sleep, I am so deep in planning mode. Which brings me to…..

Do you have your families support? They need to understand that their security depends on your success. Going it alone is a big step, going it without your families support or your friends would be too big a step, trust me.

Are you focused and self-reliant? You will work alone, you will have to make all the decisions yourself. And believe me when I say, that a bigger company does not make it easier, the buck always stops with you. Don’t think being a CEO is the greatest job in the world, no you get to do all the stuff nobody else did or messed up. It can get very lonely at times. With all these problems and decisions you have to stay focused on your goal.

If you are still reading this, then what the hell are you waiting for? Here is a couple of things you need to think about before committing yourself:

  • You need to get enough money to last for minimum double the time you think, without income.
  • Make a plan for yourself and read it on a monthly basis, you’ll be surprised.
  • Find a suitable business structure, limited company, partnership, sole trader, etc.
  • Most importantly find an good accountant, and get him / her to play with you.
  • Think about your product or service, talk to potential customers and test the water.

Then go and have some fun living your life by the rules of your new boss – YOUR CLIENTS!

Tags: Accountants, Accounting, Business Development, Business Infrastructure, Business Mentoring, Business Start Up, Entrepreneur, Home Business, Micro Business, Selfemployed, Small Business, smb, sme, Very Small Business, VSB

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