Bye Bye Boss

So you have this great idea and are convinced that you are the right person to make it work. 75% of people starting their own job are motivated by the idea of starting a new career. The other 25% is made of unfortunate victims of lay-offs or company restructuration. Those have less chance of succeeding because success is first and foremost a matter of attitude. Based on some studies, only 10% of people are made to be an entrepreneur. Are you one of them?
Do you know how to sell yourself? Do you know your market? Do you have a good network of contacts? Can you handle the risk of having no revenue for a while? These are all questions you should ask yourself before making the big jump. The first victim of building your own job is the revenue and this is why 25% of people starting a new business fail the first year. Those who don't make it are disorganized, unable to sell themself or have a wrong evaluation of their market.


How to avoid these problem?
A good business plan is a must before you start anything. The plan will give you the potential of your idea, the objectives to obtain and follow, and the direction you want to take. Be honest with yourself while building your plan. For example, do you start your business to make more money than before, to have more free time, or to make extra money while keeping a regular job? This will all lead to different objectives and different directions. Once your business plan is written, stick to it!


Your business plan will also make you discover your strengths and your weaknesses. This is important for the next advice: do not try to do everything by yourself. Do not hesitate to hire someone for tasks you're not good at. You're not good with numbers? Then don't waste your time doing your own accounting. You know nothing in PhP? Sub-contract a programmer. This way you will put all your energy into what you're good at. This will also help you to focus on your core business which is very important.


Network. This is also very important. Let people know you exist. Participate in forums, conferences, associations, events. Be eager to learn; the more you know, the better you are. Take the time to follow courses, read, ask questions.


Work. It may sounds obvious but believe it or not a lot of people think they only need a good idea or follow the steps of a 'get rich quick' scheme to succeed. Unfortunately, it doesn't work like that. The only 'get rich quick' schemes that I know are winning the lottery or inherit from a rich parent. If you want to succeed in your business you have to be prepared to work. Even if your objective is to have more free time to spend with your family, as paradoxal as it sounds, you will have to work more to succeed at working less ;-)


Be prepared to spend money. You have to invest in your business to make it work. It goes from a good computer, office supplies, and other equipments related to your business to publicity, exposure and marketing strategies. The good news is that, as an entrepreneur, most of your expenses are tax deductibles. Ask a good accountant about this.
With all that in mind do you still think you are made for having your own job? I hope so because there is nothing like being your own boss while doing what you love and turning your hobby into a cash machine