Most people dream about being their own Boss.
That’s the first thing they dream about, probably before they decide the type of business they want to have. We tell ourselves that if we have our own business, we’ll have more control of our life, our time and our money.
We’re convinced that the reason we’re not happy is because we’re in a job we don’t like, possibly working with people we’d rather not work with, working long hours, and all for a salary that in no way reflects the amount of work and time we put in.
We think, being an entrepreneur will solve a lot of our professional and maybe even financial problems. And we dream, and dream…after all Napoleon Hill said ‘whatever the mind can conceive and believe, it can achieve’.
The day-dreaming period of most ‘would-be’ entrepreneur may take months, years or a whole lifetime; until a decision is made to take action and investigate whether what you love doing can be made into a profitable business.
It’s an incredible feeling knowing that you can be paid to do something you love. It’s like you’re walking on a cloud. All you’re thinking about is that thing you’re passionate about, your time being your own, and the money you’ll be making.
You can’t figure out why any entrepreneur can ever fail if they just did that! You think, ‘how can they fail if they’re doing what they love and there’s a market for it?’ ‘Maybe their customer service was bad?’ You’re convinced that your life will be so much better and stress-free from now.
Most new entrepreneurs don’t realise that having a business is much more than doing what you love and getting customers.
If you’re not prepared, having a business can be brutal on you and your family. Remember when you thought your time will be your own? No, your time will be for working on your business. You’ll be reading, learning, researching, doing, and more.
To give yourself and your business a fighting chance, you must get your mind right – you must believe that you can, will and deserve to succeed. You see, most of us have been playing below our potential for so long that having a business scares our minds, which wants to protect us by making us doubt ourselves – I know, it doesn’t make sense. So you need to study books on mindset, business strategy, marketing, etc.
You must have your goals – starting a business to be your own boss is great but you need more solid goals. Where do you want to be in 3 years, 5 years or X years’ time? Where do you want your business to be? What’s your Action Plan? How are you going to achieve those wonderful goals? The wonderful thing about conceiving and believing goals is that you’ve got to work to achieve them.
Whilst you’re reading about how you can be a success and what you want to achieve; you must also become mentally tough and resilient, so you don’t give up. This is very crucial because that day job will seem like child’s play compared to the challenges you’ll face as an entrepreneur.
Now we’re on to your business – yep, it’s where the fun starts.
How do you want your business to be? What’s the business structure? What’s the business model? Is it product or serviced based? Have you got a business plan – doesn’t need to be a War and Peace write-up. How much will it cost to set up? Do you need staff, will you outsource when required or do it all yourself? Are you self-financing, borrowing from friends and family, getting outside investors, or from banks?
How do you want to brand yourself, your business? Yep, branding is a must if you want your business to be successful. What about marketing strategy? Have you got one?
Are you going to leave your job or do both?
Being an entrepreneur is tough, with long hours and constant challenges. To be successful you must not only learn how to ride the waves but master them.
The above and more are the kind of questions my clients tackle in our coaching programme to ensure they’re well-prepared for the challenges ahead; irrespective of whether they’re already business owners or are about to take the leap.
The beautiful thing is that by the end of it, they all say the same thing,”I wouldn’t change it for the world “😊