Or perhaps you're working in an organisation that is about to down-size and you're facing the uncertainty of possible retrenchment.
And you find yourself wondering whether small business might be right for you. Maybe even day-dreaming about the rewards and freedom that you would enjoy in running your own small business?....... Well if this is sounding a bit like you, then here's some things you might want to consider.
- Be realistic when estimating start-up costs
- Three skill-sets that you require
- Being your own boss
Is your revenue increasing? Is your customer base expanding? Are you generating a level of profit that is needed to support your lifestyle and provide you with a fair return for the risks you are taking? Running your own business means no escaping from any bad decisions that you make ..... And you simply have to learn from the mistakes you will likely make - because you won't be able to afford to make the same mistake twice
Being self-employed requires that you be a self-starter. You need to possess both drive and a fair amount of inner resourcefulness to make things happen in your business. You might well be an expert in the products or services that you sell - but there will almost certainly be many other things about running and growing your business that will have to be learned. Are you committed to on-going self-improvement?
- Risk versus reward
However, it is not for everyone. And nor is it without stress and considerable anxiety. Your fate can be somewhat tied to the health of the wider economy - just ask those who are struggling in the retail sector. And yet despite a tough economic environment, there are still people who find a way to navigate their small business through stormy weather and ultimately prosper.
If you are contemplating going into small business, then I would encourage you to do your homework and ensure that you carefully weigh up the potential risks versus rewards. If you are looking for a template to help you formulate a business plan, and perhaps help you consider what extra training you should undertake to prepare you for the world of small business - then have a look at Small Business Management
- What time is it for you?
"There is the time for careful thought and contemplation, when options are considered, goals are formulated and plans are carefully developed. It is the time for thorough research and precise assessment of risk - when haste can be your enemy and recklessness your undoing.
And then there is a time for bold action - when courage and conviction are the qualities that must be called forth from deep within. When self-doubt cannot be allowed to undermine your commitment nor cause you to waver from your chosen direction.
And finally, there is the time for reflection - a time to enjoy the fruits of your labour and learn the lessons of your experience. It can be a time for sharing what you have gained and rejuvenating your spirit, so that you can again when ready, move forward with vision and purpose.
So what time is it, for you? " (Brian Carroll, 2012)