You want to become an entrepreneur and start your own business, for many it is a challenge that some choose while for others it is a necessity perhaps because this place turned out not so sure, or maybe because that work as an employee is no longer in line with its vision or passion. In any case, it is definitely a challenge with determination, passion, motivation and maximum effort.
However, the path to start your own business could also prove to be full of pitfalls or possible errors in degrees discourage even the most motivated of potential entrepreneurs.
In a Chamber of Commerce study I read that an employee who decides to go it takes on average about 2 and a half years to make the mental switch that is used to move from the mindset from employee to that useful to do the professional or contractor.
Such a change of mentality regards, for example, the commercial skills that employees maybe were not necessary, the management of their working week, predict the time to devote to marketing of themselves or of their activities and so on.
Here we will see 5 things to consider before you leave the job and go it alone …
1) Prepare for a period of variable gains and not quite sure
Get in right also means accepting that, at least in the initial phase or Start Up, you can receive intermittent, variable earnings, or in the most difficult situations, even zero earnings for a certain period. In the employee’s, logical that it would be absurd and rightly unacceptable, but for a neo pro or new entrepreneur, for a given period, may also be the norm.
This can happen for a thousand reasons: for example, because in the initial phase serves to develop the product or service to be launched on the market, or because they must wait for the strategies of Marketing and / or Commercial begin to generate useful contacts and consequently the first customers, or more simply, because they found the first customers, we should wait until these bills we pay.
That said, it is clear that first of all one must ask, first, if you are willing to accept such a sacrifice to allow its activity to go to scheme and, second, how long we can afford such a situation. In other words, how long we can afford to not gain little or nothing?
An optimal preparation provides in the Start Up phase, also estimate the resources required to manage this period in which the “salary” cannot be total and in any case cannot be paid due to turnover. Such a forecast or better estimate can be made only by making an accurate start-up business plan or business plan, which also respond to such requests.
2) Be prepared to handle the bureaucracy
From the moment you open the VAT will find that the least sympathetic you’ll face, will be the relationship that henceforth lie with a bureaucratic and tax obligations, not because of the obligations, how to understand and comply with the obligations yourself.
You will understand that all existing certainties with Payroll vanish, and each time you will be in doubt if they really are in compliance with the various regulations, the various obligations in various fields, from accounting to tax authorities, from the Privacy Safety, the Law on Cookies for your website to various regulations and sometimes incomprehensible.
Earlier this aspect will cause you quite a few anxieties, because like all good people want to comply with all regulations without risking fines or penalties.
Over time, you will find professionals that can help you apply the law to your specific case, to comply with regulations, even accepting that the legislation is discretionary and often left to interpretation of who verify its application.
Even in this case, it is therefore appropriate to provide a Budget for professionals in degrees of help. First of all the Accountant, as well Lawyers and other professionals specialized in specific subjects of your industry.
Last aspect to consider is the time needed to manage these commitments. Not only do you dedicate financial resources, but also day to devote to the obligations, for example, to prepare the documents to be delivered to the Accountant, the days useful to issue invoices, manage payments and receipts, you relate with banks, revenue etc.
You may also like to read another article on Blog-Collector: How to Ensure an All-round Development of Your Business
3) Prepare to be responsible for all
One of the major mindset change is just go from one work environment, where basically you spend the day looking for the culprit to a work environment in which the culprit’s always you, as owner of the business will have mostly concentrated in your person, all of the contractor’s liability.
Do not you have customers? Your fault that you have not chosen or adopted a marketing strategy or effective commercial. You have customers but they are not the ones you wanted? Your fault that you were wrong the Marketing Strategy and have not hit the right target. You have customers who do not pay? Always your fault since you have chosen them you! Forget something? Your fault, you had to do your employee but if they have forgotten? Always your fault since you are the one who hired the employee! And so on…
I know I forced your hand slightly but only to make you understand that the responsibility in the end always rises to the top of the pyramid, and if you think about this but it is also the most beautiful aspect of go it alone, till decisions are yours, and consequently liability for any error.
Earlier this aspect is tough to accept but then you realize that with great power comes great responsibility and basically wrong choices and decisions will be part of your growth, your education.
This aspect is also true in the case of a Team. In terms of ultimate responsibility, I would say yes, it is always the summit from which eventually arrives when a well-organized team allows you to make this process smoother and more efficient. In particular, if you organize a team with a precise organization chart details the roles, responsibilities and objectives of your front lines, your responsibility is “reduced” to the choice of the team members and the delegation process, but it is no longer about the practical decisions that then they will be submitted to the team.
For this reason, the Plan of Activities Start or Business Plan, if done right, will have to provide not only the Trade and Economic Development, but also an organizational development to support business growth.
4) Prepare to continuously motivate
If you start from scratch, it will not be easy. Anything is possible but certainly the route is challenging, there will be moments of elation and moments of despair. It’s normal.
Maybe you had as employee of colleagues, as professional are alone. Maybe as employee enough a coffee break with your colleagues and partitive momentum and now you are alone. Or perhaps before you were a well-organized desk and now works from home, on the kitchen table with a thousand distractions. Maybe you had before your boss that you organized the week and now you have to organize your own.
Each of these aspects can be risks or huge opportunity to really feel free and serene with the choice made. It will depend very much on your approach, how you face difficult times, by your motivation, commitment, how will answer to external stresses and challenges you’ll face. For some continually learn is the lifeblood of others stress.
To do so will also be important people who will attend, or if you do not have a mentor, books you read, if you do or not training, if you have a mission and vision strong to hold on in the most challenging moments. In short, people, reading, friends, courses can give you a boost or being a burden, the choice is yours!
5) Do not sell your time, but your results
Like it or not, in most cases, work as an employee is based on an exchange between the dedicated time and paid salary. Sure you may provide bonus on the results obtained, and certainly if the results do not come the whole report can interrupt.
However, when you decide to put in own and start your business, this aspect will be exasperated at the highest levels. Every day your focus will be on getting results, such as finding customers, invoicing, provide the service, delivered in good time, take care of dissatisfied customers, the bills get paid, pay its debts / rate / deadlines, etc.
I do not want to sound too extreme, but the rumors are zero. Finding excuses is useless. If your new business will have to first survive and then turn towards success, you and your team will have to continually and systematically bring home results massively.
I would also like to clear about that get results is also wrong, if and to the extent that you learn from your mistakes.
Getting results to do that, you get into the proper mindset of those who organize and plan the strategies, set objectives, measures to achieve its objectives, corrects and recalculates, learn and experiment until you get the results set forth in its plan start up.