re you frustrated and fed up with your job? Well, don’t despair. You have options. One is to quit your job; another is to start a company. It is possible to transition successfully from employee to entrepreneur, but it’s a little more complex than that. Here are 12 steps you will need to take to become your own boss:
Some people call this finding your passion, but it’s more than that. Think about your skills, abilities and experience. Consider what you can realistically see yourself doing for hours each day, for weeks and years.
A viable business is the intersection between what you’d like to do and what others will pay for.
Find a few people who you think would be your ideal clients. Ask them about their biggest needs, fears and aspirations related to the business idea you plan to pursue. Are the benefits of your product or service in line with their real needs? Also, make a note of the words they use because they’ll eventually help make your marketing more authentic.
Today’s marketing involves content creation, social media, email outreach, and more. Make sure you know how you’ll approach each of these avenues to introduce your idea to customers. At the same time, lay out a business plan that details how you intend your business to function. It doesn’t need to be incredibly formal, but it does need to cover your operating structure, product, delivery systems and expansion plans.
If you can, test your company idea by launching on a small scale on the side, while still working your day job. This gives you a no-risk opportunity to test your ideas, get your first clients and see if the business will hold up over time before you leave the security of your current position.
Running a small-scale operation will help you determine which parts of your idea are great and which parts need adjusting. Take customer feedback seriously and make any necessary changes before you begin scaling up.
If your idea seems viable, determine who you’ll want on your business leadership team when you eventually launch full time. Depending on your personal experience, you may need help in areas such as finance, marketing, customer service and production.
For a small venture, this might mean saving up some money to get through the first few months, or taking cash from your savings. If your aspirations are a bit larger, you may need to think about how to procure venture capital or other outside investment.
At the same time, you’ll also want to decide what kind of company structure to register. Get this taken care