Are you dreaming about starting your own business? Many people who have a job working for a company dream about starting their own business. The majority of these folks do not act on their dreams. The story about why we should follow up on our dreams is a story for another day! Really – promise to send that one out soon!
For the few people in the minority, who do in fact take action on their dream to start their own business, the reality of starting and running your own business is a serious and potentially overwhelming endeavor.
For anyone currently in a job who is ready to take action on their dream to start their own business here are three main areas to focus on as you move along the timeline of your journey.
STAGE ONE – PLANNING
While you are still employed – which means you are bringing home the bacon – plan! The first part of the plan is a review of self. This would be begin with your mindset and personality. Do you have what it takes to be an entrepreneur?
The second part is what is the business – the actual way to earn money? Is this a product or a service? What is the competition? What makes you different? Will people pay you for what you are going to deliver or sell?
There are numerous other initial aspects to planning. Many of these may be uncovered by taking a few assessments such as to uncover your leadership skills and abilities. These assessment results should be reviewed with you and a certified coach. Other items range from creating a financial plan, securing professional support such as a Lawyer, an Accountant and an online expert for developing websites and more. A trusted advisor will be able to guide you through this process.
STAGE TWO – TAKE ACTION STEPS
In this stage you may still be employed for a period of time. Once you are ready to begin networking in person, advertising your new business and creating the legal entity it would be wise to double check your rules of employment. Often rules do exist which state you are not permitted to run your own business while being employed by your current employer. This would especially be the case if the industry is similar to the one you are currently working in. In either case, in a perfect world you would keep your current job until there is a predetermined amount of cash flow coming in from your new business. Therefore do not leave your job as long as you are able to keep working while you create your new business.
In this second stage you would begin to determine your niche, your ideal client profile, develop your brand, your website and your social media profile for your business. A trusted advisor will be able to guide you through this process.
STAGE THREE – PUSH START!
This is the stage when you are open for business. The initial part of this stage is to double and triple check everything you have done so far and make certain you are ready to start!
Typically items which were left to set up at this point are banking, online credit card processing, marketing consistently, your sales funnel and much more.
As you are able to see running your own business may be more work than having that job where your dreams first moved you to go in this direction. The best investment you will make if you plan to start your own business is to establish a relationship with a trusted advisor who will be able to work with you as you progress in this process. The last thing you want to do is try to go down this path all by yourself!
Mitch Tublin is an advanced certified executive coach and business consultant who resides in Stamford, CT.
If you are considering starting your own business or already running a business speak with Mitch and potentially there will be an opportunity for you to work with him as your trusted advisor. –>> Sign up here for a free twenty minute call <<–
