Taking the plunge of starting your own business is not only a daunting task to many, but something many entrepreneurs fear as well. If you have a steady job, benefits, reasonable income, and job security, it makes this transition all the scarier.
So, how do you get over this rational fear, take the plunge, and finally get your startup going?
These are a few tips to help get you over that hump, and get you on track to being your own boss.
Sounds simple enough, but most people who start their own business fail because they don't have a solid one. Just imagining success, telling yourself you'll become a millionaire, and telling yourself you can do it, isn't enough. Lay out a solid plan. Make a one year, five year, ten year (etc) plan, so that you know what markers to hit, when you should attain certain goals, and where you should be at any point in time, when starting up your business....
telling yourself you'll become a millionaire, and telling yourself you can do it, isn't enough.
This can include starting out small. Doing your freelancing on the side part time can be a huge confidence booster. It can also help you put money back, eat better, afford better care and vacation for your family all while keeping your 'day' job.
Many people have this fear of losing it all, or putting their life savings into a business, only for it to falter. You don't have to risk everything you have to see if an idea is going to work or not. I believe that freelancing can be a full time gig and maybe you've been wondering whether you can afford to make the leap. Chances are you have almost everything you need to get started and there is NO shame is starting small. Once you see that your work is valuable enough for others to pay you directly it is far easier for you to make the transition, and become your own boss full time.
Piggybacking off the previous point, look for ways to reduce operational costs early on. If you have family that can help out for a few months at a lower price than hiring new employees, opt for this option. If you can operate out of your home, it means no rent (plus it is a tax deduction when you can use your home as an office). If you have supplies, if you can start from home, and if you can find free money (many government grants for first time business owners), use all of these resources at your discretion.
Yes, it can be scary taking a leap, especially if you have a solid position, earn well, and have job security. But, if you are unhappy at work, and have always dreamed of having the kind of flexibility of a freelance business, there is no time like the present to get this plan underway. Consider these simple tips to get you motivated, and at least point you in the right path to becoming a business owner.
Get new posts, tips and resources right to your inbox and get access to our fast start guide for signing up today!
Guest Post! Need Help Carving Out Time for Your Writing? Make it a Priority
How to Never Run Out of Freelance Writing Jobs Again! Seriously
The Process That I Used to Write My First Book and What I’m Doing Different This Time
5 Ways to Earn Your Christmas Budget by Freelance Writing