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There is a big mystique about running your own business - often people want to escape being told what to do by a single boss only to find they end up having hundreds of bosses even harder to work with at times (also known as customers). When starting up your own business, there is generally a cut in pay associated with it and may include the necessity of taking out large loan - if you're even able to qualify to get a loan in this economy.
Starting your own business is a lot more work, generally 2 to 3 times as many hours and you're basically not getting paid unless you manage to get a sale. And any actual work you do get has to be done in addition to the work of building your business which can never be neglected.
Acknowledging these risks ahead of time while you're still considering the jump into entrepreneurship is important. If you're willing to take the chance and tackle the work, cut in pay, the evaporation (temporarily...hopefully) of your social life, and the indebtedness...then we encourage you to move forward in your venture.
Often you see potential business owners focusing on using other peoples money or thinking their idea is worth enough for people to invest in it and still let you retain ownership of your company. There is a reason a business owner is called an owner, and that is simply because the business was paid for via their hard work, by risking their life savings, or mortgaging their house.
Plan out your savings and how long you can do without a paycheck until the business takes off, and plan on it not taking off right away. Think shoestring budget, and when you do spend money, spend it in ways that directly relates in sales which can be put back in the business. You must carefully think through the affordability and your personal financial situation.
Planning for your business is crucial. You need to know the laws, market, customers, financing, insurance, and sales strategy that gets your business from merely a concept to something that generate enough sales to support you. You need real proof that works not just for yourself, but something which can convince your spouse, your parents, and your friends that what you are doing is a much better choice for yourself than working for someone else.
Getting a Score coach who can tell you the simple things you are missing
One of the best tools available today for entrepreneurs and potential business owners is SCORE.
|SCORE "Counselors to America's Small Business" is a nonprofit association dedicated to educating entrepreneurs and helping small business start, grow and succeed nationwide. SCORE is a resource partner with the U.S. Small Business Administration (SBA).
SCORE is headquartered in Herndon, VA and Washington, DC and has 364 chapters throughout the United States and its territories, with 12,400 volunteers nationwide. Both working and retired executives and business owners donate time and expertise as business counselors. SCORE was founded in 1964.
The most important thing in working your plan is making sure you network. An inexpensive way of getting your name out there is using business cards, which help you with person to person selling. PrintBusinessCards.com has helped many entrepreneurs over the years by creating quality, effective business cards for them. We hope you'll give us the opportunity to work with you to create the perfect business card for your new business. If you see a design here that you'd like to use, please just click on the thumbnail image to begin working on that business card. If you have a concept in mind of how you'd like your business card to look, please use our Business Card Request feature.
Regardless of the expense, challenges and difficulty in making a new business succeed, starting a business is very fulfilling. It also is something which, even in failure, can make you grow as a person and be beneficial to your overall career. It is really something that if you don't try, you will always wonder what you could have done.
Don't see what you're looking for? Post your request here and we'll send it to our Artist Community who will create several new designs for you to review.