Many of us are not happy working for a boss. I am one of them. I found out that being my own boss was more my thing than being told what to do and obeying orders was not my thing either and the pity wage I received and being bossed around didn’t add to my feeling of happiness. I love the freedom of being my own boss and be responsible and rewarded for being that. Also I tend to get many ideas which I want to explore and want to make real. With many up and downs I may say I have gained some wisdom and I would like to share my wisdom and experiences with you. Happiness is doing what you like to do most.
Think long term, not short term
Setting long term goals are extreme important because you can only achieve something good in the long run. Why? Because only good companies last long. So, write down where you want to be with your business 10 or 20 years from now. Then, set short goals in order to achieve that. Make a plan for the first year month by month and set your goals and set goals for every year there after. (You will notice that it takes double the time or even longer to achieve what you want to achieve. But that is part of the business).
What kind of business?
If you already know what you are going to do you can skip this but many of us are looking for something nice to do. There are some things to take in consideration. First of all is the money question. Do you have a lot of money you can almost do anything you want. If you have some money (yes, you need to have access to some money) there are some other things to consider. If you have a little money to invest try to use other peoples money. Yes, you read it well. Use other peoples money. Let me give you an example. Realtors use the properties of others to make money. Used car dealers take cars in consignment and pay the owner when the car has been sold. Thrift store owners take stuff for free and sell them with profit. Just to name a few.
What are tricky businesses?
In general all business making products. Unless you are an artist producing unique art on a small scale you have to take some things in mind. You need to stock up on materials in order to fabricate your product and then you need to stock up on your products and when you have sold your product you have to wait for your money for 30, 60 or even 90 days. And sometimes you won’t get your money at all. Also you need to have some money to market your product. All in all you need to have a decent amount of money to be successful. But if you have a unique product for which is a high demand you can be very successful. Just think Apple, the number one company in the world. Nowadays there are many ways to attract investors. You can also start a crowd funding.
Involve your partner
Chances are you have a partner you share your life with. That is great because you need to have all the support you can get. Setting up and having a business consumes a lot of time. Think 6 or 7 days a week and 10 hours a day at least. Now don’t be afraid! When you are your own boss it is not work anymore! Work has become something you love to do every moment of the day and then it has become your passion. And sharing your passion with your partner is important and you have to know in advance your partner is willing to share your passion. If not, you have a lot of challenges to overcome. So talk about it and get your partner interested and willing to share your passion and maybe to participate. Shared passions tend to bond! The best happiness is shared happiness!
I am one of those people who hate doing the paper works and all hustle and bustle of administration works. Do not even think you can be successful if your administration is tip top. If you hate doing it, find somebody who can do it for you. If you do don’t know how to do it follow a course. Busienss administration is one of the most important aspects of having a business. Be sure you are in good order with all government rules and permits. Go to your local Chamber of Commerce for information or search the internet.
If you have any questions or comments let us know