If you’re thinking about going out on your own and starting your own business, there’s a lot to think about. Although there are plenty of how to books which make it sound easy and make it sound like you could very easily just work a few hours and spend the rest of the time on the beach, the reality is somewhat different.
No matter what industry you’re in, it takes time to build a business up. It takes time to build up clients, to make yourself known to customers within the industry and to establish yourself. It also takes quite a bit of time to get into the swing of things.
Things don’t always go as planned
You may have a fairly good idea of how things are going to work and what your customers want, but oftentimes, probably more often than not, you will find things going very differently to what you had written in your business plan. This isn’t necessarily a bad thing, but the reality is more people starting out in business don’t realise what their customers want. Or they think they do, but then come across something that isn’t already in the market and focus on a new idea. Either way, starting a business isn’t just a case of copying what those who are successful are already doing.
Writing the business plan
The business plan is a big milestone. Although some modern entrepreneurs don’t believe in writing a business plan, there is still a lot to be said for getting your ideas on paper. As mentioned earlier it may be the case that your business plan isn’t what the market needs and so you might want to change things later on. This is fine. Make sure you’re comfortable with change and make sure your business plan is concrete yet adaptable to your market.
The small things like finding an office, getting into a routine, organising a phone line, business electricity and all of that can take up a surprisingly large amount of your time, particularly at the beginning. Part of the reason for this is because you are very cost-conscious and don’t want to overspend too early. This is good but do keep an eye on the amount of time you spend on each task. It’s also worth networking with others who have recently gone through the same process to see if they can provide you with any tips of advice.
Finally, enjoy it. Although it’s a stressful time, it’s also an exciting time and one, hopefully, you will look back with great fondness.
Jennifer is a part of the digital blogging team at cashzilla.co.uk who work with a growing number of finance brands. For more information about me, or to keep up to date with the latest in finance news, check out my posts at cashzilla.co.uk or visit my Twitter account, @cashzilla.