Entrepreneurs, Thinking Of Starting A New Business – Making That Leap From Your Comfort Zone
To many people, starting their own business is a dream – so how do you move from your dream to reality? Making the move from your regular job with the regular income is a big step. Have you really thought this through? Do you really understand all the changes that you will need to make? Let’s examine how to make the journey as safe and quick as possible.
Financial Stability: Starting a business means a lot of expenditure with little income to start with. This can be very frightening and you need to ensure that you have planned for the potential problems.
Time: Set yourself a reasonable time – say 6 months to a year to make the transition from employee to entrepreneur. Stick to this time frame. This gives you something to aim for and enables you to plan!
Planning: Plan how you are going to make your transition and what you expect to achieve each year.
Targets: Targets keep you motivated and encourage you to keep to your plans. Set yourself the target of obtaining 3 new clients within 2 months and then 1 client for each month after that.
Decisions: Build in when you will make each key decision. These will include what services and products you will be selling, to whom and at what price. You also need to decide what will make your company so special that people will buy from you rather than your competitors.
Marketing: Decide what your marketing strategy – that is where you are going to find your customers and persuade them to buy from you.
Turnover: Once you have done all this, you need to work out what your break even point is. How many customers do you need to pay your bills and make all the work worthwhile? When will you reach this point and can you survive until this time?
Caution: Please be sure that you can succeed and that this is what you really want to do, before you give in your nice safe paying job. Good luck.