1. Decide what you want to do
Firstly, you should think of what you want to do, what kind of business you want to start or what service you want to offer. It all starts by determining the idea of what you are going to do as a business.
2. Evaluate your idea and the competition
Once you get the hardest part sorted- meaning a clean idea of what you will offer as your business you have to do research to understand the industry around it. It’s important to have a good understanding of how others are doing what you are planning to do, answer some questions like who will you target etc.
3. Make the switch
Are you planning to stop your current job and directly start working for yourself, or do you want to start gradually by combining two, in the beginning, a job and your own thing on the side?
Gradually becoming a self-employed
If you are stressed out about not having enough of a safety net, you might want to start from being employed at your ‘day job’ and after hours at this job working on being your own boss. This will empower you to have some pay income to stream in while you set up a portion of the starter nuts and bolts, such as arranging your business, getting your assets all together, setting up your site, etc. In any case, the drawback is that you may feel extended somewhat meager (think long days and chipping away at the weekend to set everything up), and there is less force to go “all in” on the off chance that despite everything you have the security of your normal everyday employment to depend on.
Quitting your job
On the other side you may decide to completely quit your day job and dedicate yourself fully to work on being your own boss.
There are advantages and disadvantages here, as well. You’ll have a lot of time to concentrate on your new pursuit, and you’ll have a touch of flame underneath you inciting you to buckle down. In any case, the undeniable drawback is that you might be without a deluge of salary for a short (or perhaps long) timeframe.
4. Put aside enough cash
Before you dive in and make an arrangement toward turning into your own boss, it’s critical to ensure this way is monetarily practical for you.. This doesn’t mean having all the money for your new business; I’m talking prior even than that. Do you have enough cash to continue yourself while your business starts to pick up?
5. Create a plan for your business
You have your idea, you’ve validated it and done your market research, and you’ve established that you feel confident in your ability to be your own boss.
6. Get your finances in order
Now is the time to straighten out your financial situation, if need be.
This could be speaking with an accountant or bookkeeper, setting up bookkeeping software and familiarizing yourself with it, setting up a business bank account, and so on.
7. Set up a website, social media accounts, and brand
At this point, you have all the physical details in place. You should be well on the way to becoming your own boss, and making your new business and career path a reality.
So, now it’s time to make sure you establish a strong presence online and build a recognizable brand.
Also, you have to know how to manage your time, see below the following chart to learn more 😉