Are you thinking of quitting your salaried job and starting up on your own? Whatever the field you want to get into, Starting your own business requires serious thought beforehand. During this analysis phase, you will need to ask yourself a number of questions about your character, the possible revenue streams and your aspirations, both personal and professional. How can you ensure success? By asking yourself the right questions!
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Leaving full-time employment and starting your own business requires great determination. To succeed as a freelancer, certain character traits are essential.
Risk-taking is inherent in starting your own business, it is all about how you make decisions. A good entrepreneur must be able to anticipate the risks before they become an issue. Risks are of different types: strategic risks (positioning, marketing), operational, financial or even legal. Identifying the risks of your project is the first step to getting started. Take risks, but look at the pros and cons!
Try, fail, correct and then start again. Being able to fail the right way helps to de-dramatise mistakes along the way. What is the difference between someone made to be an entrepreneur and some one who isn’t? It’s perseverance! It is the primary quality of an entrepreneur. Be careful though, perseverance does not mean being stubborn. Sometimes you have to know when to stop to correct your course!
If you want to lead an entrepreneurial life, it is better not to be afraid of challenges! This does not necessarily mean enjoying them, but being able to manage unforeseen situations, adapt to changes and evolve with the market. It is impossible to rest on your laurels when you have a business to run!
An entrepreneur is above all a leader! Indeed, good leadership is a pillar of the success of any new business. But what is it exactly? Leadership defines the ability of an individual to guide, influence and inspire to achieve certain objectives. It is about having a clear vision, unfailing motivation, knowing how to surround yourself with the right people, while also showing listening skills and creativity.
Find out about becoming an enrepreneur
Entrepreneurship is multifaceted. Before you dive in head first, study the different opportunities available to you!
Starting your own business is a great adventure that requires serious preparation. You may benefit from a business mentor and personalised support. You will need someone by your side, who can help you with legalities and behind-the-scenes processes. You will have to find the necessary financing for the start-up and even draw up a solid business plan that holds up. It is better not to leave anything to chance!
Do you want to start your new business with less risks? Have you thought about starting part-time? Your new project can be financed by your current 9-5 job. This allows them to develop your idea while maintaining your without leaving their company.
The desire to be independent is the primary motivation. However, before embarking on such an adventure, you should look at your pace of life as well as your aspirations in terms of work-life balance.
So, depending on your lifestyle and/or family constraints, you will have to create a different type of business.
For example, if you are a “nomadic” traveller, it is difficult to take over a business with several employees. You could opt for going self-employed and working by yourself!
Ask yourself what level of responsibility you are willing to take on. Professional independence does not mean no longer having to answer to anyone because you will always have clients and perhaps employees. In terms of legal liability, not all statuses have the same consequences. For example, a sole trader is liable for his debts with his personal assets. Think about it!
Finally, ask yourself about the sectors of activity that interest you and for which you have a qualification or an appetite. Training may be necessary to acquire the necessary expertise. If you are undecided, get help by carrying out a skills assessment to determine in which areas you have the greatest potential!
Find out more about starting your own business with the support of iad here
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