Could you work for yourself?
Working for yourself can be exciting, fulfilling and rewarding. The opportunity to be in control of your destiny, to build a business and provide financial security for your family. However, there are risks and challenges too so you need to be sure it is right for you.
- What are the priorities in life for you and your family?
- What are you looking for in working for yourself?
- How much do you need to earn to maintain your lifestyle?
- Will you be able to adjust your lifestyle if things don’t go to plan?
Be prepared for long hours
You may have to put in long hours, particularly in the early stages. Does this excite you or concern you? You will need:
- Ability to self yourself and your business
- Confidence with numbers
Be prepared with great planning
What sort of business are you considering? It might be based on a skilled trade or a type of business with which you are familiar. The more knowledge and experience you have about the business you intend to start the more likely it is that you will be successful.
Your starting point should be to outline your business plan:
- Your product or service
- Who your customers will be
- How much you will charge
- How much business you might expect in the first year
- What your costs will be
- What resources you will need
We have business planning tools on our website to help you consider the issues that are important in starting a new business and we can help take your idea to the next level.