If you’re talented, driven and motivated to succeed but under-appreciated at work, you may well be considering branching out and going it alone. Though becoming self-employed isn’t always easy, if you get it right, there are big benefits to be had. From being your own boss to reaping all the rewards of your hard graft, working for yourself can be incredibly satisfying and lucrative.
However, the leap of faith that’s required to quit your job and start out on your own is a big one. Not only will you be giving up a monthly salary and a range of perks, you may well be investing your savings into your new venture, making success even more important.
Though there may have been a single event or experience in your current job that’s made you consider leaving, it’s important not to quit on a whim. Though working for yourself does require a leap of faith, it’s important to back this belief up with practical planning.
Before you hand in your notice, create business plans, do your market research and look carefully at your finances. The more prepared you are to begin your new venture, the smoother the transition from employed to self-employed will be.
Have a clear focus
It’s important that your new start up has a clear focus and a specific USP. If you know exactly the niche you want to fill, it will be a lot easier to launch straight into your new career as soon as you finish your current job. If you don’t yet have a clear idea of the direction your new venture will take, spend some serious time thinking and planning your blossoming career before you hand in your notice.
Be confident in your abilities
Confidence is a big part of success, especially for the self-employed. Be confident in your abilities. Know that you can compete with other businesses and other professionals and make sure the companies and individuals you network and collaborate with know just how good you are.
A recent study established that although the product may have been good to great, most businesses fail (46%) because of the entrepreneurs ‘incompetence’. The remainder were a lack of business experience.
See the future
Though your self-employed career may well begin from the desk in your spare room or even your garden shed, you probably have much bigger ambitions for your venture. Try to keep a vision of your intended future in your mind as you take your leap of faith. See the offices, the staff, the products and the brand you’ll one day have. Think about the huge potential your company contains and channel this belief and this optimism into your everyday activities.
Going out on your own isn’t always easy. However, by taking the right approach, believing in your abilities and being confident about what you can offer, you can get your self-employed life off on the right foot.
Engage a great business coaching team or business mentor to help you take that idea or MVP (Minimal viable product) to a business to be proud of and that really makes a difference not just a profit!