Break Free From The Rat Race By Starting Your Own Business Venture
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So many of us get stuck in the rat race- we become faceless workers dedicating the best of our lives to line the pockets of big corporations. Maybe you’re over worked or under challenged at the same time, you might have a long commute or not get along with your boss and colleagues. Either way, it’s easy to see how we can end up unfulfilled in our careers and therefore our lives being stuck in this trap. If you want to do more, pour your passion and creativity into something else then why not start your own business? Working for years may have given you the skills and experience you need, with a little extra help you could set up your own venture and work until you’re proud. Here are a few things to bear in mind before jumping in.
Make Sure You Can Afford It First
Making the change from a regular, dependable wage to your own company can be scary. Before you throw in the towel at your old place, make sure you can afford to live on a drop in money for a while. It could be a while until your business is making money. One idea would be to start things up and run it part time until it gets established, that way you can quit your day job knowing you’re moving over to another source of income. You could even study part time during this time too, gaining an accredited online mba for example would give you plenty of knowledge about business and you could study during evenings and weekends while you still worked. That way, by the time you come to set up you’re backed by a qualification and plenty of knowledge. Other costs to consider are of course startup costs. Premises, equipment, materials, workers, a website. You’re likely to need a chunk of money at the beginning just to cover these kinds of things.
What Will Your Business Do?
Do you have a clear business idea in place? Perhaps you’ve already found a niche in the market, or maybe you have a passion or skill that you want to build your business on. Either way, do your market research and make sure people want to buy what you’re offering. You should have a unique selling point which sets you apart from other similar businesses, and it doesn’t hurt to know what your competitors are doing either. That way you can tailor your own business to ensure you’re reaching the right customers.
Online, In Person or Both
Finally, where will you be selling? There are pros and cons to having a physical store. If you sell products for example, a physical store in the right location will get you plenty of customers due to there being lots of foot traffic. However these kinds of premises can be expensive. If you sell online you can sell globally and will be able to rent a less expensive premises away from the town or city centre to store and ship from. However marketing can be difficult, and getting yourself out there and going up against far more established competition can be tough. Work out which method will be the best for you depending on what your business sells.
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