Going to work every day, doing the 9-5 grind can get boring. In an ever-connected world where a can-do attitude is encouraged, you may have found yourself contemplating the prospect of going into business for yourself. Getting to choose your own hours, being your own boss, and an increased cash flow are just some of the potential perks. However, owning your own small business is a commitment.
First, though, what do you imagine being your own boss would look like? Do you picture yourself at home working in your pajamas all day? Or perhaps you are more of a coffee shop sort of person? How about kicked back in a chair on a sunny beach or atop a high mountain, enjoying nature while you work away (thanks to the wonders of the internet)?
While each of these scenarios is possible for those who own their own business, a more realistic visualization would include you interacting with others on a daily basis. Of course, with that aforementioned internet, you can interact with others remotely.
But it all starts with a plan.
Business is all about management from start to finish. A solid business plan is an absolute must. It is important to establish when you will work, what hours you need to put in to earn an income, and to make sure you understand the laws and regulations governing your area of interest so there is no room for surprises down the road. You also want to make sure the benefits outweigh the cost. Although many companies offer opportunities to franchise or carry your own product line at minimal cost, there will be some costs. If owning your own business interests you, include a savings plan in your budget.
You’ll also want to think about training and support. Consider your areas of expertise and how these will fit into your business plan. Also, consider how you want to represent yourself and the best ways to support a growing team.
The professionals agree: Owning your own small business can be a satisfying and rewarding experience. There is one other important aspect to consider. Building relationships is an integral part of owning a business.
The perks of self-employment abound. You really can work in your pajamas if you have a home-based business. You have much more freedom to set your own hours and work from remote locations. However, any small business owner will tell you how important it is to make connections. Growing your business means creating a brand that reflects who you are to others. That can take a lot of effort, but the results will always be worth it.
So now try visualizing yourself as your own boss again – but this time with all of these considerations in mind. The dream of being your own boss can be a reality as long as you are willing to work hard and build relationships.