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Want To Start Your Own Business? Consider These 4 Questions First

Own Business

4 QUESTIONS TO CONSIDER BEFORE YOU START YOUR OWN BUSINESS

I know how it can be to think of an idea or solution to a problem and want to go out and tell the world about it. That would be the right thing to do if you have a non-profit or if you just want to do a good deed for the day, but if you want to earn a profit for your great idea or passion then here are four things you should consider before you start your own business.

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Question 1: Do You Intend To Work Full-Time or Part-Time?

If you already have a full-time job you have to think about how much time you plan to devote to starting your own business. If you just “get to it when you get to it” then you should consider this new project a hobby and not a business.

Starting your own business part-time is usually less risky because you are being realistic about how much time you can spend getting your business into profit.

You also need to be certain that the business can be done in the hours that you have available. If you want to start a dog walking business, but you can only walk dogs between 9-11 pm, then you may need to start a different business.

Whether you work full-time or part-time you need to treat the new business you’re starting as a job. Don’t think because you’re the boss that you don’t have to do any work. When you’re starting your own business, it is important to remember that you will most likely be working harder than if you were working for someone else.

When you’re writing your schedule based on the hours you decide to work ask yourself in the back of your mind “if my employee did what I did today would I be happy?”

Question 2: Do You Want To Stay In A Familiar Field?

When you first get the idea to start your own business it may not come from something work-related, but from you coming up with an ingenious solution to a problem that you have personally; a field that you know nothing about.

If you go into a field that you don’t know much about be prepared for a learning curve and get your mind set on building relationships with a new group of people. In order to be successful in a new field, you have to know what is going on in that field and you shouldn’t beat yourself up if you’re not an expert in that field in the first 30 days.

Question 3: Do You Need A Change or Want To Do Something More Enjoyable?

If one of the reasons you want to start your own business is because you hate your job; you’re tired of being stressed out, or you want more free time to do something you actually enjoy doing then this would be part of your reason why you want to start your own business.

My wife majored in her major because that was the same major her mother had in college and even though she puts the knowledge she gained to good use in our home business doesn’t mean she would have enjoyed doing it for another company.

I know plenty of people who have jobs that are not related to their degree and you would be surprised how many people start a business that has nothing to do with the field they have been working in for years.

“Find a job you love and you’ll never work a day in your life.” -Confucius

In order to reach your definition of success, you have to stay persistent, and in order to stay persistent you have to stay motivated; and in order to stay motivated, you have to enjoy what you’re doing.

Question 4: Do You Consider Yourself A Hard Worker & Enjoy Solving Problems?

If it ever seemed like there would be a lot to consider to start your own business it is because there is a lot to consider.

If you want to make this dream a reality it is going to take Hard Work. It is going to take some fortitude to go to work (if you have a job) do your family duties if you have them (pick up kids, cook dinner, help with homework, give baths, clean up, etc.) and then use the time you use to spend relaxing on your business.

When you’re first starting your own business, you are going to run into situations that you don’t have a contingency plan for and that’s perfectly normal. That is actually a great thing. Do you know why?

It is great because it means that you are trying!! There are valuable lessons to be learned from failures and mistakes, so embrace them.

“Failure is the mother of success.” -Unknown

I want to commend you for being open to earning a living by working for yourself. Many of the people in our society don’t have the courage to step outside the norm and don’t want to try anything new because of fear that they’ll be ridiculed or based on their need for certainty.

I believe the world would be a better place if people did what they love or are passionate about instead of working solely for money. And besides, the majority of our GDP comes from small businesses, so keep that in mind the next time a naysayer tells you that you can’t start your own business.

 

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