Whether you have been working for a corporate company for years, or working for a small business for a short time, have been working freelance for different companies for as long as you can remember, or run a business with a friend or family member, there is one thing in common with all of these types of employment: hard work and dedication is involved. Working for a corporate company can involve lots of paperwork and seemingly never ending statistics and data analysis, while working for a small business can involve doing a mix of jobs which were not necessarily made clear you would be doing when you were initially employed and can range from administration to social media marketing to meeting with clients to reception duty. If you work freelance, you will be used to working all different kinds of hours and working hard to fit your work around your personal life in order to meet deadlines and workloads; and if you run a business with a friend or family member you could be used to swapping ideas, taking on different managerial roles, seeking out advice from your business partner and having someone there to help finance anything which needs to be paid for.
Working for and with other people can sometimes be tedious if a person feels that they are not being appreciated, their time in the job has become dated and unfulfilling, their wage simply is not allowing them to live a life which fits with their needs, or if they have an idea for a business which they are passionate about and find themselves thinking about when they are working in their current job role. There comes a time in life when everyone needs to move on from a job, and while some people go ahead and leave a job to fulfil their needs or accomplish their dreams, other people may feel they want to leave a job but do not have the drive, determination or extra finances available to do so.
If you have a business idea, and decide to leave your job and go through with your dream, you could be surprised at how much calmer and happier you may end up being. However, before making a snap decision, you will need to think about all the aspects of starting your own business which may affect all details of your life. Of course, if you are already running a business with a partner then you will be aware of what it is that you have to do in order to achieve your dream. But, this time you will be on your own so it is still important that you are aware of the different essentials you will need to put into place, do research on and put into place. If you have not yet run your own business, then you will really need to assess your current situation and think properly about what aspects you will need. For example, are you going to work from your home until your business completely takes off? Are you going to set up a website on your own or are you going to employ an agency or a freelancer to set up one for you? How many employees do you need? And, how much do you need to save or how much do you need to earn from your business to keep you afloat and sustained until the big profits come in?
Lots of early start-ups begin from home, and while this may not necessarily be the best situation for some people, it is essential that you save early and easy costs such as immediately moving into an office space elsewhere. If you have a spare room, you could use that as your office or if the house is quiet during the day is everyone is out at work or the children are at school, set up a space for yourself on the kitchen table, in the basement, in the garage, or absolutely anywhere where there is a comfortable space for you to work in.
Setting up a website is a clearly vital asset to any business. Consumers, customers and clients are now more likely than ever to research your business online rather than approaching you to speak about your business face to face. Your website must be slick, accessible, easy to use and it needs to clearly outline what your business is about and what it offers. It can also help to have an ‘About Us’ page – or something similar – which allows copy to be written in a personal and characteristic manner. Some businesses actually make more profit through their website than they do with hard sales, is a website is a must for a new business. Incorporating social media use into the website and business is also a positive aspect to own, as it allows a different kind of medium to interact and engage with customers.
As your business grows, you may find that you need to hire employees. It may have been just you working on your business for a while, so when you do begin to hire make sure that the right person (or people) are put into place. Do not rush into making a decision, as essentially you will be paying these people to help you and your business – your lifeline, dream, and goal.
If you have sufficient savings, then you could go ahead and hand in your notice and begin on your new business. A decent amount of savings will allow you to live comfortably for a while, until your business begins to rake in the profits. However, be careful with how much you spend on your business as you will also still need to buy daily essentials, such as groceries, and will still need to pay the bills. If you feel you have not got suitable savings, then perhaps you may need to bide your time at your current job and save monthly. This way, when starting your business, you won’t be struggling for cash.