There are many reasons why people decide to go into business for themselves. For some it has always been their dream, and they have been working for someone else to gain experience or put together a nest egg. Others simply got tired of taking orders when they knew they could do better. For some – many now – their own business is the only way to make a living. The old days of working for a company for forty years before retiring are mostly gone. Whatever the reason, here are few things to consider when starting your own business.
Being the boss means you have freedom to do as you wish, right? Actually, being the boss means you work for yourself, and if you really want to do well, you will be the most demanding taskmaster you have ever worked for. You are responsible for your own success, and that means you are available 24/7. Sure, you can take a weekend, but if the customer calls Sunday afternoon about the order not being delivered, you are back at work.
Captain of your ship
Being the boss is like the captain of a ship. As long as you do it right, you will enjoy the rewards, and people will respect you for your achievements. But being the captain is a lonely position and you, only you, have the responsibility to make sure that every voyage is safe and successful. And if you have just started a business, you probably won’t have much of a crew yet, so you will be captain and first mate and cook and the guy that has to pull up the anchor.
But running your own business, and succeeding at it, will be immensely rewarding. Make sure you have everything in place to maximise your chance of success.
Build a solid foundation
Decide on the structure of your company. If you have just started, you will most likely be a sole proprietor, in a partnership, a Pty (Ltd) or perhaps in a franchise setup. Each of these has benefits and drawbacks, and you need to do your homework. Things like your banking and registering for VAT or not could impact the course of your business in years to come. There is nothing wrong with starting small and expanding as you go along, but you have to be aware of how every stage of your business could impact you.
Your company name is now more important than ever before. If your name is Joe and you sell lumber, first check if there is a Joe’s Lumber in existence. If there is, people searching for you may find him instead. Same with your email – you may not be able to get the email address you are looking for. But a search and solution for this are quick and easy. We can help you there.
Ugly happens spontaneously, but good design needs a good graphic designer. Your logo, the layout of your website, even your email signature, these all need careful and consistent design. First impressions, especially now in the digital age, are vital. Your graphic image has to grab the potential client and motivate a click onto your site, rather than a click away. Like your company name, your visual image is not something you want to wing at the start and solve later. Getting new clients will most likely be your priority, and the way you look will go a long way to achieving this.
Go for it
Digi-Guru is a small business. We have been at it for a while now, so we speak from experience. This post was written specifically to help you make a success in your new business. Go for it!
Article Credit: Philip Gelderbloem