I want to start my own business – but I don’t know where to begin.

Okay so , you want to start your own business but like many people you don’t really know where to begin. You have told family members or chatted to your partner and decided self-employment is the direction you want to go in.

Firstly BRILLIANT! I am the biggest advocate of self-employment. I feel everyone, at some point in his or her lives, should be self-employed. It is a great learning curve and opens up more opportunities to you that any other line of work.

“I initially want to offer you the following warnings”

Whether it is income opportunities; connections, your network and even your life style can become limitless. It is exciting, but in the same instance it is not for everyone. I truly believe it requires a unique set of qualities and personality traits, which if you have them, well – what are you waiting for?

So where to begin, I initially want to offer you the following warnings. These are things to deeply consider if you are starting out.

My “starting Self-employment” reality list:

Risk

Self-employment comes with high risk. You literally could lose everything but that is also exciting and can drive you to develop new ideas and grow your business. If you are risk adverse do consider this. Make calculated risks and learn what you are comfortable with.

Finance and investment

You are going to HAVE to invest money, in your business and in yourself. This is not to be taken lightly and if you think you can cruise through with minimum investment you will realise very quickly that your business will stall. This was a big thing for me and a steep learning curve – but when I made the leap it paid off 10 times over.

Stress and Time

Starting out in business will demand a great deal of your time. I used to work crazy hours when I first started. However this need not be the case. Yes it is stressful but in order to make a business work you have to make all of the elements work for you, so consider this when you are starting out. What are your rules? What will you stand for and what will you not?

**You will also think about your business 24/7 and want to be at the beck and call of your customers – be careful about this, it can have a negative impact on relationships and your life**

Family and friends may not get it

When you start out in business or when you start out in anything you naturally want to discuss your ideas with those closest. However they are not always the best people. In my experience surrounding yourself with people who are in your situation (self-employed) is the best strategy. Network and find a great group (you can join mine here) Groups can be such a great asset. As much as I love my family and I know they mean well, I learnt very quickly that they didn’t always see my vision – it’s not what they know and it is risky but I guarantee other entrepreneurs will get it.

 

Consider all of the above and prepare to be determined – very determined. You will face failure, you will face being disheartened (regularly), you will face competition but you will also experience sheer joy, pride and excitement around every corner.

Check out my next blog about where to start when you are starting, where I give you my initial check list of things to think about to kick-start your new business and life! You can also find some of my favourite business books here to help you on your way.

Good luck!

Laura x

I love to get to know business owners and discover how I can help them, whether it be through the blog or community. To book your Free 30 minute discovery call with me just click below.

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