Has the thought of setting up your own business ever crossed your mind?
Maybe you have already embarked on the path. The fact is, almost everyone contemplates being his or her own boss at some point in his or her career.
But what does it actually take to make a success of it? And is it really the route that you want to take?
The idea of working for yourself throws up exciting possibilities, such as having better control over your own time and a substantially higher income. These are probably the two key motivators for people who are considering making the change from being employed to becoming self-employed. But self-employment also involves some significant challenges: Where will you find your customers or clients? Can you manage the administration of running the business while also servicing your customers? And how will you cope without a support network of colleagues around you?
If you're seriously considering taking the plunge and working for yourself, first sit down and think through your decision. You should properly research your market and create a detailed plan of action, starting from the basics. You'll want to assess the field before deciding on your direction, and then you can take the course you've charted towards your goals.
What are the key reasons for your decision?
Whatever the reasons, ensure that you make the change for positive rather than for negative reasons: The grass is not always greener on the other side, and you need to make sure that this isn't just a way of "running away" from situations you really should deal with.
When you decide to move from a regular office-going career to full-time self-employment, it's easy to gloss over the reality of what that entails. Here are a few insights into the world of self-employment that you may have overlooked in your enthusiasm.
"When I started using Mind Tools, I was not in a supervisory position. Now I am. Along with that came a 12% increase in salary." – Pat Degan, Houston, USA
This ensures that you don’t lose your plan.
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