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Starting your own business

6 things you should consider before you take the plunge

When I have conversations with people who want to start their own business I always ask them why they want to do what they want to do. There’s usually two kinds of answers - one is a reason to get escape current circumstances i.e. - a boring job, crazy boss, hating the 9 to 5 lifestyle and also wanting to work from a beach anywhere (I’ve tried this guys - trust me. There’s WiFi issues, among others) And the second is based on passion. That’s the ‘I love doing this and it keeps me up at night ’ syndrome.

Regardless of which category you fall into, If you want to go out on your own - Here’s a couple of things you should consider.

  1. Money - this is obvious isn’t it. The biggest reason a lot of us don’t jump out of our 9 to 5 jobs is because we need the money. If this is you - DON'T QUIT YET. But it’s a great time to start mapping out your escape plan. Explore what you want to do on your own and see how you can slowly start earning from it as a side hustle. If you like baking, see if you can bake and start supplying cakes to friends and family on weekends. Find that skill that you have and see how you can monetise it. This will also be a great assessment of how viable and profitable your business can be in the future. The side hustle is also a great time for self discovery, to find out if this is something you really want to do. Test the waters.
  2. Find your why - in my option, this is CRUCIAL. If you’re burning out at your current job - there’s no guarantee that you won’t burn out when you’re on your own. In fact it’s far more likely because you can’t disengage from your business as easily as you can from your 9 to 5 job. It’s like having a baby vs. babysitting someone else’s child. When you have a strong enough WHY, i.e. a passion for what you do, you’re less likely to burn out. 
  3. Keep learning - if you don’t know what you’re good at or you are still on a journey to narrowing down - don’t worry!  Keep exploring and never stop learning. Even if you have 10 Masters degrees to your name. It's important to stay up to speed with your industry and the latest trends and changes. There are tons of platforms where you can do online courses, watch videos and learn new things that you’re interested in and try to narrow down what you’re passionate about. 
  4. Don’t strive for perfection - if you’re waiting for everything to be perfect and all the stars to align in order to get started, you’ll never get started. Instead strive to start doing something. Try, fail, change your mind and repeat. This is YOUR journey. And it’s more important that you get the courage to put yourself out there than do something that’s ‘perfect'.
  5. Invest in what you’re doing - Whether it’s investing in a course, or a website to start your blog, an online store to start selling things or even buying a easel to start painting - when you invest in something - you are much more likely to commit to it. 
  6. Understand your value - There's nothing selfish about 'doing business'. Theres a unique gift or skill that you have that could add immense value to the world around you. So don't underestimate what you can give because it seems unconventional or because doing 'your own thing' may be perceived as selfish. Your gift can make the world a better place.

So what are you waiting for? Start working on your dream today!

If you want more direction on how to set yourself up and position yourself, book a consultation call with me and I'd be happy to talk to you and guide you through the process of getting started!