7 signs you’re ready to start your own business
Does every week day feel like this on repeat, forever, with no real reward at the end of it?
Then that’s probably the first sign that you’re ready to start your own business. People often strike out on their own out of a sense of dissatisfaction with their current role. This doesn’t mean falling out with your employer, or even hating your job. It’s could just be a general feeling that you need a new challenge, or that if you don’t build something of your own now then you never will.
But often that feeling of needing to do something isn’t on its own enough to launch a business on, so what are the other signs that you’re ready to start your own business?
You’ve had an idea
For most people who start a business, the idea is where it all begins. Of course, this idea doesn’t have to be something that will change the way people communicate, like Facebook, or change the way people travel like Uber. In fact, your business idea doesn’t even have to be new. A huge number of successful businesses are built on tried and tested ideas. If they weren’t we wouldn’t have any new plumbers, builders, search engine optimisation agencies or any other kind of business you can think of. So your idea can be as simple as you like, the real test will be the way you put it into practice.
You’re relishing the idea of putting in the groundwork
There are a lot of things you need to do to turn your idea into a reality. From the vital but boring – such as deciding what kind of legal entity your business will be, to the vital and exciting – like planning a launch event.
But groundwork is still work. And there’s a lot of it to do. (If you’re not sure what starting your own business will entail, then you can get to grips with the basics in our guide to starting an online business.) If you’re actually looking forward to discovering what you’ll need to do and to actually doing it, then that’s a positive sign.
You actually put the groundwork in
Of course having an idea and the desire to get started is very different to actually getting started. Many potential businesses fail to progress past the daydreaming stage, or get swamped by the demands of life and the daily 9-5. Getting started is perhaps one of the biggest challenges of launching a business and even taking small steps can help you build the momentum to keep things going. Even better – work out what you need to do in advance, draw up a timetable and then stick to it.
Some people think you might be losing it
Not everyone is going to be on board with the idea of you starting your own business. In fact, some people will be bemused at the idea of someone wanting to leave a steady job to go it alone. One extreme example of this kind of thing is the Daft As A Brush cancer charity launched by businessman Brian Burnie who sold off his £16m estate to fund the project. (The name of the charity comes from the reaction people had to his plans.) Of course, it’s highly unlikely that you will be spending £16m on launching your business, but there are times when it may seem like no one else but you thinks going it alone is a good idea. That’ll be tough, but you have to remember that if you don’t believe in what you’re doing, then no one else ever will.
You can convince people your business has a chance to prosper
Sooner or later, you’re going to have to convince someone else your business is a good idea. And, to be honest, it’s probably going to be sooner. It might be a potential investor, or it might be potential customer or client. As we’ve already discussed, not everyone is going to think launching a business is a good idea. But if you can’t pitch your business to the kind of people who will be, one way or another, giving you money, then your business will never succeed.
You think things can be better
Not just for you, but for the people who will be doing business with you. The desire for a better life may drive you to start a business, but a passion for helping people will make that business succeed. It might be a desire to help someone do better digital marketing by launching your own agency, or it might be a desire to help people enjoy their home more by fitting a new bathroom. It’s this passion that will carry you to success.
Ready to start?
You can get started building your new business website with the 123 Reg Website Builder. Any questions? Let us know in a comment.