Boss’ Day is coming up on October 16th. If you’re thinking that now’s the time to become your own boss, here are some tips to help you get started.
Choose the right business for you.
What drives you to get up in the morning? What interests you the most? Starting and running a business is too much work to engage in something you don’t enjoy. If you’re not passionate about what you do, your employees won’t be either.
Create a business plan.
A well-written business plan is essential for figuring out where you want to go and how you will get there. It also plays a vital role in attracting others, including investors, to your idea. Even if it’s only a single page, a business plan will provide clarity, focus, and confidence on your journey to becoming your own boss.
Get clear on your target market.
Before you invest any money in your idea, find out if people will buy your product or service and what they will pay for it. In particular, make sure you understand why people will buy your product instead of someone else’s.
Get your personal finances in order.
Make sure your personal finances are in good shape before pursuing any outside funding. Then decide what type of business you want to build – lifestyle, franchise, high-growth, etc. This will determine what kind of financing to seek, how much, and where to look.
Build a support network.
Starting a business requires too much time, expertise, and resources to go at it alone. Use social media and traditional networking, such as joining your local chamber of commerce or other relevant business groups, to build a strong group of supporters and advisors. (Hint: when networking, focus on what you can do for them rather than what they can do for you.)
Spread the word.
Start telling people what you’re doing and why – with passion and conviction. Believe in yourself and others will believe in you as well.
Follow these steps and you’ll be on your way to becoming your own boss. To be the kind of boss that employees will actually honor on Boss’ Day, consider the following quote from Learning Threads founder and Ideator Trevor Gile:
“When I first entered the workforce as a baby engineer, I thought I would be working for my manager, and so it was. When I started managing programs, I thought engineers would be working for me, but I soon learned the truth of the matter: good managers work for their employees, not the other way around. At Learning Threads I’m the ‘Boss,’ but really I work for many young software developers. The time I spend making sure they have all of the tools they need and making sure all of the right questions are being asked is time very well spent.”
As you begin your journey to becoming your own boss, remember that Ideator is here to help you every step of the way. Sign up today and find out for yourself!