Starting a business? Are you eager to turn your talents into a money-making business? Running your own business can be rewarding in many ways, but before you give up your day job, be sure you are realistic about what you'll be doing when you become the boss.
It is important to be realistic about what you'll gain.
One of the main reasons that people leave the corporate world is a desire to "be my own boss." Being your own boss is highly overrated. You are by far the most demanding boss you will ever have. When you're self-employed, you don't get the luxury of checking out when you leave the office. Your work takes up some portion of your mind 24 hours a day, 7 days a week, 52 weeks a year. Your business, your customers' experience and your employees' livelihoods live and die on the decisions you make. That's a lot of pressure, and you'll make demands on yourself accordingly. You have to in order to be successful. You may not be answering to one person in particular, but that doesn't mean you're not answering to anyone.
Other major drivers for starting your own business can be money, quality of life, fame or expertise. All of these are good reasons to switch careers, but most of the time you won't be able to achieve any of them overnight. Be realistic about how much time it will take to achieve your goals. This is a great opportunity to say the age old adage if it seems to good to be true then your parents are right it probably is.
Be ready to start at the bottom. You may be extremely good at what you do, but when people start paying you not a known company for it, you are subject to a new set of standards. You must first build a name and a reputation for yourself in your new field. Unless you are some kind of celebrity or have been publicly praised in the media for your work prior to starting your own business no one and I do mean no one knows who you are. It will take work just educating the potential customers to what you do and get name recognition in the field. Be patient don't expect miracles and pace your self. Allow time for the transition and don't get in a hurry to tell the boss to "take this job and shove it." As with any job, there will be highs and lows. The more passionate you are about your job, the more personal those highs and lows get. When you pour your blood, sweat and tears into building your dream business, each accomplishment can put you on top of the world, but each criticism can be equally devastating.
Working for "the man" is definitely the safer more mundane route in life. However as For the thrill seekers among us, straying off on your own to pursue your dream can be incredibly rewarding, albeit challenging and even scary at times. Just be prepared for what you're getting yourself into and enjoy the ride.
It is important to be realistic about what you'll gain.
One of the main reasons that people leave the corporate world is a desire to "be my own boss." Being your own boss is highly overrated. You are by far the most demanding boss you will ever have. When you're self-employed, you don't get the luxury of checking out when you leave the office. Your work takes up some portion of your mind 24 hours a day, 7 days a week, 52 weeks a year. Your business, your customers' experience and your employees' livelihoods live and die on the decisions you make. That's a lot of pressure, and you'll make demands on yourself accordingly. You have to in order to be successful. You may not be answering to one person in particular, but that doesn't mean you're not answering to anyone.
Other major drivers for starting your own business can be money, quality of life, fame or expertise. All of these are good reasons to switch careers, but most of the time you won't be able to achieve any of them overnight. Be realistic about how much time it will take to achieve your goals. This is a great opportunity to say the age old adage if it seems to good to be true then your parents are right it probably is.
Be ready to start at the bottom. You may be extremely good at what you do, but when people start paying you not a known company for it, you are subject to a new set of standards. You must first build a name and a reputation for yourself in your new field. Unless you are some kind of celebrity or have been publicly praised in the media for your work prior to starting your own business no one and I do mean no one knows who you are. It will take work just educating the potential customers to what you do and get name recognition in the field. Be patient don't expect miracles and pace your self. Allow time for the transition and don't get in a hurry to tell the boss to "take this job and shove it." As with any job, there will be highs and lows. The more passionate you are about your job, the more personal those highs and lows get. When you pour your blood, sweat and tears into building your dream business, each accomplishment can put you on top of the world, but each criticism can be equally devastating.
Working for "the man" is definitely the safer more mundane route in life. However as For the thrill seekers among us, straying off on your own to pursue your dream can be incredibly rewarding, albeit challenging and even scary at times. Just be prepared for what you're getting yourself into and enjoy the ride.
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