01 February 2016 Franchise 0
How to Become Your Own Boss. 5 Steps in the right direction.
Many of us reach a point in our lives where we realize that we would rather be the head of a mouse instead of the tail of lion. It takes a special kind of person to take the plunge and go into business for them self. Entrepreneurship and self employment can be very rewarding. However, you must be prepared and know what to expect. Here are 5 steps to get started today.
1. Make a Decision
It takes some immediate initiative to become your own boss. This means you have to look at yourself in the mirror and take a stand for yourself. This does not mean you should quit your job tomorrow, but you have to decide whether or not you really want to be self employed. You have to be sure that this is what you want wholeheartedly.
2. What form of Self Employment suits you best?
There are many options to go into business for yourself. If your strength lies in sales and customer management, perhaps being an agent/representative for a brand that allows you to work independently, such as a real estate agent, may be the best option for you. If you have marketable skills that are high in demand, consulting could be a good option. If you have a winning idea and believe in it, a small business could be the way to go. Another very popular option is franchising. This grants you the ability to be in business for yourself without actually being in business by yourself. Meaning, you will be provided a blueprint for success. This is ideal for those that excel in leadership and team building and can follow a game plan. The important thing with franchising, is that you select a franchise in an industry that interests you and is growing. A good example is the health and fitness industry which has experienced year over year growth consistently for decades.
3. Business Planning
Many people do not plan and they pay the price later. Set goals, weekly, monthly, or quarterly that will help motivate you to move forward. Once you’ve decided the form of self employment that is best for you, ask yourself, what are all the things that are needed to make this happen? Give yourself realistic deadlines and develop a plan to meet each one. Example, if you have decided that franchising is the way to go, have a date by which you will need to decide on which franchise is right for you. Set a goal that will help you, such as contact 3 franchise organizations a week to inquire about opportunities. Another goal may be, obtain a loan/financing by a certain date. Follow through with this plan and you will go far.
4. Understand Your Finances
When you are self employed your personal life is very much interconnected to your business. Though it can be very rewarding, you must budget accordingly and take into consideration the amount you much bring to your household weekly.
5. Find Supporters
Starting a business on your own is close to impossible. There has to be people that believe in your business as much as you and are willing to help and/or support you during this venture. Supporters could be franchise organizations, a spouse that is willing to work more hours while you save money, or people that want to be part of your dream. To create a network of supporters, advisers, partners, allies, and/or vendors you have to believe in your business and spread the word. If you believe, other will also.