How to be your own boss in 2019 March 20, 2019

How to be your own boss in 2019

Have you ever organised an event such as a wedding or arranged a holiday for a large group? This demonstrates that you have the skills needed to run a successful company – being your own boss is more achievable than you think.

The perks of being your own boss are great, but the work is still hard. If being your own boss is what you want then you can definitely do it, here are the steps you need to take:

1. Know Your Financial Situation

The essential first step to becoming your own boss is figuring out how you're going to pay yourself. You need to know how much money your own business will have to make to keep operating and providing you with a livable wage. Before you start mentally decorating your new office, sit down with your financial records and your calculator.

You need to consider not only your personal finances, but also the projected financial situation for your new business. How much money do you need to get started? How much money do you need to keep operating week after week? With these numbers in hand, you'll be able to see if your business is financially viable.

2. Start Committing Extra Time To Your Schedule

In order to be your own boss, you have to go above and beyond to reach your goals. You have to be willing to dedicate extra time. How to do this: Make a checklist.

Why? Even when we accomplish a small task, our brains release dopamine which is linked to motivation. When we feel dopamine, we’re eager to repeat the actions that led to it. Start with small tasks to build your motivation up.

3. Business Planning Improves Your Chances for Success

Most people don't plan, but it will help you get to market faster. A business plan will help you gain clarity, focus and confidence. A plan does not need to be more than one page. As you write down your goals, strategies and action steps, your business becomes real.

Ask yourself the following questions:

What am I building?
Who will I serve?
What is the promise I am making to my customers/clients and to myself?
What are my objectives, strategies and action plans (steps) to achieve my goals?

4. Find Creative Ways to Fund Your Business

To get your business up and running, you’re going to need an injection of cash. While it is possible a bank might approve a business loan to help fund your idea, it’s also just as likely they will reject your application.

If so, you will need to find other ways to finance your budding venture, such as:

Pitching an idea to a potential investor
Using a credit card
Attracting an angel investor
Borrowing money from loved ones
Crowdfunding

5. Get the Word Out

Be willing to say who you are and what you do with conviction and without apology. Embrace and use the most effective online tools (Twitter, Facebook, YouTube, LinkedIn) available to broadcast your news. Use social networks as "pointer" sites; i.e., to point to anything you think will be of interest to your fans and followers.

Even though social networks are essential today (you must use them!), don't underestimate the power of other methods to get the word out: e.g., word-of-mouth marketing, website and internet marketing tools, public relations, blog posts, columns and articles, speeches, e-mail, newsletters, and the old-fashioned but still essential telephone.

6. Don’t Be Afraid of Hard Work

Once you have found a niche and have secured capital for your business, you will need to work hard to make your goals a reality. Waking up early, going to bed late, and enjoying minimal annual leave are part and parcel of running a start-up business, so expect to make many sacrifices on the road to success.

Looking to run your own business and in need of short courses in London? But Lacking the skills and knowledge to do so and thinking of courses in London? Find out more about the training courses in London to help your business grow!