Being Your Own Boss Has Its Perks
Running your own enterprise is appealing to a lot of people, but it seems like not so many of them are capable of making the first step. This is mainly due to the fact that they are afraid to step out of their well-established comfort zone. However, you need to understand that if you manage to take this first leap of faith you’d be able to see that everything good that happens is always going to be out of your own comfort zone. In any case, being your own boss comes with a lot of perks, but it also poses a lot of responsibility. There are a few paths that you might consider if you want to take up this way of career development so let’s take a look.
Freelancing is a Steady Tendency
Some of the most popular studies show that over 41% of the workload is going to be freelancing by 2020. This is an immense number, and it clearly shows that most of the people prefer to work independently instead of having to rely on others and to work in a corporate environment. Furthermore, being a freelancer would allow you to work as much as you need, without over pushing yourself. This could leave you with enough spare time to take up other activities that you wouldn’t have been able to if you were working the regular nine-to-five. Watch the video below on how to set up a Fiverr.com account and start doing gigs to earn money.
Starting Your Own Business
This is without a doubt the dream of many. Even though starting your own business might be challenging, but if you manage to pull it off properly, you would be able to live your life to the fullest. Having money might not be the most important thing but it sure as hell is deciding if you want to have high standards. Of course, running your own business would allow you all the freedom in the world, but it also poses a lot of challenges.
Here are 8 Tips to Get You Started:
1. Take a Stand for Yourself.
If you are dissatisfied with your current circumstances, admit that no one can fix them except for you. It doesn't do any good to blame the economy, your boss, your spouse or your family. Change can only occur when you make a conscious decision to make it happen.
2. Identify the Right Business for You.
Give yourself permission to explore.
Be willing to look at different facets of yourself (your personality, social styles, age) and listen to your intuition. We tend to ignore intuition even though deep down we often know the truth. Ask yourself "What gives me energy even when I'm tired?"
How do you know what business is "right" for you? There are three common approaches to entrepreneurship:
Do What You Know: Have you been laid off or want a change? Look at work you have done for others in the past and think about how you could package those skills and offer them as your own services or products.
Do What Others Do: Learn about other businesses that interest you. Once you have identified a business you like, emulate it.
Solve a Common Problem: Is there a gap in the market? Is there a service or product you would like to bring to market? (Note: This is the highest-risk of the three approaches.) If you choose to do this, make sure that you become a student and gain knowledge first before you spend any money.
3. Business Planning Improves Your Chances for Success.
Most people don't plan, but it will help you get to market faster. A business plan will help you gain clarity, focus and confidence. A plan does not need to be more than one page. As you write down your goals, strategies and action steps, your business becomes real.
Ask yourself the following questions:
- What am I building?
- Who will I serve?
- What is the promise I am making to my customers/clients and to myself?
- What are my objectives, strategies and action plans (steps) to achieve my goals?
4. Know Your Target Audience Before You Spend a Penny.
Before you spend money, find out if people will actually buy your products or services. This may be the most important thing you do. You can do this by validating your market. In other words, who, exactly, will buy your products or services other than your family or friends? (And don't say. "Everyone in America will want my product." Trust me--they won't.) What is the size of your target market? Who are your customers? Is your product or service relevant to their everyday life? Why do they need it?
There is industry research available that you can uncover for free. Read industry articles with data (Google the relevant industry associations) and read Census data to learn more. However, the most important way to get this information is to ask your target market/customers directly and then listen.
5. Understand Your Personal Finances and Choose the Right Kind of Money You Need for Your Business.
As an entrepreneur, your personal life and business life are interconnected. You are likely to be your first--and possibly only--investor. Therefore, having a detailed understanding of your personal finances, and the ability to track them, is an essential first step before seeking outside funding for your business. This is why I recommend setting up your personal accounts in a money management system such as Mint.com to simplify this process.
As you are creating your business plan, you will need to consider what type of business you are building--a lifestyle business (smaller amount of startup funds), a franchise (moderate investment depending on the franchise), or a high-tech business (will require significant capital investment). Depending on where you fall on the continuum, you will need a different amount of money to launch and grow your business, and it does matter what kind of money you accept.
6. Build a Support Network.
You've made the internal commitment to your business. Now you need to cultivate a network of supporters, advisors, partners, allies and vendors. If you believe in your business, others will, too.
Network locally, nationally & via social networks. Join networks like NAPW.com, your local chamber of commerce, or other relevant business groups. Here are some networking basics:
- When attending networking events, ask others what they do and think about how you can help them. The key is to listen more than tout yourself.
- No matter what group you join, be generous, help others and make introductions without charging them.
- By becoming a generous leader, you will be the first person that comes to mind when someone you've helped needs your service or hears of someone else who needs your service.
7. Sell By Creating Value.
Even though we purchase products and services every day, people don't want to be "sold." Focus on serving others. The more people you serve, the more money you will make. When considering your customers or clients, ask yourself:
- What can I give them?
- How can I make them successful in their own pursuits?
- This approach can help lead you to new ways to hone your product or service and deliver more value, which your customers will appreciate.
8. Get the Word Out.
Be willing to say who you are and what you do with conviction and without apology. Embrace and use the most effective online tools (Twitter, Facebook, YouTube, LinkedIn) available to broadcast your news. Use social networks as "pointer" sites; i.e., to point to anything you think will be of interest to your fans and followers.
Even though social networks are essential today (you must use them!), don't underestimate the power of other methods to get the word out: e.g., word-of-mouth marketing, website and internet marketing tools, public relations, blog posts, columns and articles, speeches, e-mail, newsletters, and the old-fashioned but still essential telephone.
If you take these steps, you'll be well on your way to becoming your own boss. It's important to remember that you are not alone. If you want to "be your own boss" but you still feel stuck, reach out and connect with other entrepreneurs in a variety of ways. You may be surprised by the invaluable contacts that are right at your fingertips.
In any case, you should be aware of the fact that taking the steps towards becoming an entrepreneur is something easier nowadays. The times have changed significantly, and we are left with far more opportunities than they were 10 or maybe 20 years ago.
The internet is also offering quite a lot of opportunities, and you can take advantage of them if you want to enjoy the freedom which comes with being your own boss. Hulk Advertising is going to provide you with all the right consultation as well as business trading and other helpful tips which would provide you with the knowledge you need to make these decisions and to turn your dreams into a reality.