With the right idea, research and hard graft anything is possible. There has never a better time to jump in, startup and be your own boss, particularly if you have an innovative idea. Why ? Because the Economy is gasping for innovation, new ways of doing things and improving old ways of doing things. Plus a downturn reduces the competition.
Expense Account
To be your own boss allows you to take in all payments gross and make your tax return once each year. Tax still has to be paid but the benefit is in your cash flow – you will have additional cash on hand throughout the year and this will help significantly with the capital costs of starting up.
Staff
Remember the pain of office politics ? How about that person you couldn’t stand in Accounts ? Well, to be your own boss means that you get to call the shots as to who you work with and who your customers are. Build a team that complements the way you work and operate. This will assist in building an organic firm and lead to long term sustainability.
Motivation
Nothings gets the heart racing more than a challenge and there is no greater challenge than starting your own business. A new found motivation will inspire and enhance our chances of success. Once you get your first payment you realise that it’s your money and this has a strange tendency to “re-motivate” !
Love what you do
It’s simple, if you love what you do then you’ll literally skip into work each day, guaranteed. No more Monday morning fear factor when the alarm goes off. Liking your job is also linked directly to likelihood of success so choose something you enjoy, look at your hobbies for example – could it be turned into a business? .
It doesn’t have to be expensive
Whether it’s services or products, give your self a global platform online from as little at €200 with a domain name, free website and a pay pal account. Many web hosting packages now sell ready to go websites that can look surprisingly tailored and professional. Just buy your domain name from them, throw in the text content and off you go. Accompany your site with a pay pal account which can be set up with a credit card and a bank account.
Become mobile
Starting a business from scratch means that you can start right. For example, do you want to be paperless or do you want to be able to work from any location ? If so put these policies, in place from the get go – invest in a scanner, set up a remote desktop connection to your lap top or investigate cloud computing options.
Life will never be dull !
The day you set up your own business is the day you become not only an entrepreneur, but also a marketing specialist, an accountant, a bookkeeper, a web master, a customers relations manager, a HR consultant and an IT guru. At start up stage you’ll most likely be fulfilling all of these roles. Be your own boss.
