Should you start your own business?
...tires screech...maybe we should have started with this...but maybe not!
Should you start your own business? Are you ready for the hard work, and type of work it takes to be an entrepreneur?
First things first...why do you want to start your own business?
**Maybe you feel unfulfilled or stuck in your day job
For many, this is the case. Josh shares his experience about his former day job:
He was bored and there was no upward mobility in ways that aligned with his interests. Which ultimately lead to him being grumpy...and on the hunt to find something better to do!
Many entrepreneurs as aspiring entrepreneurs can agree on this next one...
**Being your own boss
For Cel, this was a large deciding factor in starting her business! She's not a huge fan of being told what to do; being your own boss sounded really attractive...as it does to many people, but it takes more than just saying "I'm going to be my own boss"...there needs to be action behind it.
**The plus side is that there is no one telling you what to do! You have the ability to make your own schedule; allowing you to create flexibility for yourself and your business. Depending on the type of business you have, you may have to work with your clients' schedules, but you can also choose the clients you work with.
Sometimes, you may not take on the most ideal clients, that don't truly align with your mission...but you live and you learn! If a client isn't a good fit, you can nicely say "I don't think we're a good fit" or next time you can lead with something like that.
**If you enjoy learning and rising to new challenges...excellent, because that is running your own business! From issues with quickbooks, to not having tools you need...you need to be able to think quickly and determine a solution to the problem at hand. You may have to do everything in your business...from working in the business, to the behind the scenes paperwork, to being a janitor. It's all necessary, and initially, you may have to do it all!
**Perhaps you want to pass down a legacy to the next generation! That can be a great reason to start your business and possibly provide jobs to generations to come!
So...now that we've got you dreaming...let's get into REAL TALK!
Maybe starting a business isn't for everyone; it takes a certain kind of person to be an entrepreneur.
- Self Motivated
Once you have control over your own schedule, it can be really easy to say "I'll just get to that later, right now I can do whatever I want." When you are starting out, do the most challenging task first thing in the morning! You will feel most accomplished when this task has been completed, allowing you to take on your day with confidence.
Also, good to note, that some people are more comfortable getting things done with a boss looking over their shoulder telling them what to do. If left to their own devices, they wouldn't lay out a plan and start executing. If your reading this, you're probably not that type of person...but let's just make sure!
- Ability to look ahead 1, 2, 3 steps ahead...
- Genuinely like helping people
While no may or may not get into a business of direct customer service, but at the end of the day you're going to have to interact with clients. These people are willing to pay you money, and you're going to have to solve a problem for them for them to give your their business and hopefully repeat business.
Even if you feel like your not in that style of industry, you will be filling a new with the products or services you provide.
Do you want to fill a need? Do you have the ability to fill the need? Does it align with what you want to do?
Do you have enough money? Do you need to stay in your day job to continue earning that pay check?
That last point leads to time. Do you have enough time outside of your M-F, 9-5 to start building this up?
How badly do you want to start your own business? If you're willing to make sacrifices in your life, and that may not be quitting your day job, but rather working on this project while you're still working for someone else. That can mean that you are working your normal job and coming home to work on your side hustle for several hours each night creating long...possibly 16 hour days.
Alternatively, you can choose to work on your side hustle or to-be job on your days off or weekends. Using your weekend, you can gain 6-8 hours a day to work on growing different aspects of your business to get the ball rolling. If that is the case you've gained 12-16 hours of time to work on your business. That is way more than most people who are just starting to dream think about their side hustle. It is truly a commitment, meaning no time off for a little while to be able to start yourself up.
If you want to get sh*t done, you have to be willing to put in the time and effort to make it a reality!
In addition to weekends, you can also choose to devote 1 hour after your day job to working on your business. You'll be working 21 hours on your business each week...which is basically a part-time job and you are going to move that ball forward pretty quickly, and get you closer to your ultimate goal of working for yourself.
It is a sacrifice, for sure!
The key is being able to find the balance it it all — managing your energy, focusing your energy, and being able to get all that you need completed is extremely important. We all only have 24 hours in a day, but the way you use those hours can be really impactful in growing your business.
By making your business a priority, you can succeed!
Think this through before you just decide to hop in. Yes, you can dream about how awesome it will be, but also realize that it can be a lot of work.
It's not for the faint of heart. If you are a go getter who can get stuff done...then do it! If you feel like you can benefit from going into a business with a partner, that may be a better choice for you!
Reach out with questions! We are happy to brainstorm with you!