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Saturday, 01 November 2014 00:00

The Signs That You Should Start Your Own Business

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Do you have an idea for the next big thing?  Are you fed up with the monotonous 9-5?  Want to have a better work life balance? Whatever your reason for wanting to start your own business, you will probably be making the best decision of your working life, however, how do you know you should take the risk? Here are a few signs that taking the leap might be the thing for you.  
  1. You feel stuck in a rut at work
    If you dread waking up every morning and having to make that commute, then you’re probably unfulfilled. A promotion or another role might abate the problem, as might a new job, but deep within you the prospect of an ordinary 9-to-5 just doesn't excite you any more. You do need to work out if you want a change of scenery or a totally new challenge!
  2. You have an idea for the next best thing
    Have you spotted a gap in the market?  Can you do something better or cheaper?  Have you invented the newest widget?  Whilst you could work with a third party, you will more than likely want to make things happen yourself
  3. You are independent
    Are you a problem solver or can easily work on your own?  You already have some good entrepreneurial traits!
  4. The lightbulb switched on
    It suddenly dawned on you that that you wanted something different or better and are now motivated to make the change
  5. You are always thinking and coming up with ideas
    Good entrepreneurs are always thinking about their idea, their business and maybe their next business
  6. You can afford to take risks.
    If you’re single, without young children or successful in your field and financially comfortable others, now may be the ideal time to follow your dream or be a little adventurous.
  7. You're fed up of the daily commute
    So you stand on a train for hours every day or sit in traffic jams on a regular basis?  Maybe you should look at starting a home business - over half of the UK's businesses are!
  8. You're happy getting your hands dirty
    If you do not have an issue with rolling up your sleeves and diving in, you will enjoy starting a business, as there is a lot of effort in the early stages.   OK, sometimes it might not be that enjoyable, but that doesn't bother you... does it?
  9. You hate working for others
    If you seriously can’t stand taking orders, loathe your boss and all his (or her) demands, start planning your exit strategy of becoming your own boss.
  10. You think you could to things better
    Maybe you're confident that you could run a business better than your boss.  Maybe you are an egomaniac.  Whatever the reason, if you have the belief and confidence, it is a great foundation for break.
  11. You have always wanted to be your own boss
    Whether you do not like being ordered around or you want to be more in control of your own destiny your want to be the decision maker
  12. You Want a better work/life balance
    Whilst running your own business can mean that you will be at home more ofter, have to work more sensible hours and commute less, it can also mean working 24/7, depending on the market you are in or the speed you want to move at.
  13. Redundancy looms ahead
    In these uncertain financial times, jobs for life are not as common as they once were.  If you face redundancy, starting your own business should definitely be potential career move to look at.
  14. You achieve a lot at work and are not recognised or rewarded accordingly
    You may be key to your companies success, but, sadly, are taken for granted.  Why not take your talents and use them on the open market?
  15. You're simply seeking a new challenge
    Maybe your board in your current position and just want to do something different.  Whilst starting a business with little experience or no knowledge is very risky, the process is very challenging and could fulfill a need.
  16. You want to acquire new skills and knowledge
    Well, you will certainly do this when you start a business.  You will have to build a new set of skills and get an understanding in many different areas - accounting, employment, health & safety etc
  17. You want to work the hours you chose
    In some businesses you can put in minimal effort for great rewards or the standard 9-5 isn't necessary.  However, be careful, some businesses will need a lot more work, especially at the start.
  18. You are always looking at the angles
    Some people look at strawberry and see a fruit. Other people see fruit, jam, compote, pies, flavourings etc.  If you see beyond want is in front of you, you have a good attribute to maximise potential.
  19. You’re a natural leader
    Having a great idea is one thing. Being able to communicate that idea and convince others to jump on board is another. Look at the great or famous entrepreneurs and you will see people who can enthrall, motivate and take people on a journey.
  20. Subcontractors are taking after your business
    You see your company emply people like you, but as contractors, earning more money and having greater freedom - you feel you want a piece of that!

I am sure that there are lots of other reasons - if you can think of any, add them in the comments box, below.

 

 

 

Read 1240 times Last modified on Sunday, 02 November 2014 21:44
Paul Kelly

Co-founder of Your Business Community, Paul has been running his own small businesses since 2001, after leaving his job as Product & Marketing Director of Bush Radio plc.

With great experience in setting up and running several businesses, as well as helping entrepreneurs at all stages of their development, Paul is a great supporter of SME's.

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