10 clues that it's time to start your own business

Discussion in 'Articles & Tutorials' started by KacieParker, Jan 3, 2012.

  1. KacieParker

    KacieParker
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    10 clues that it's time to start your own business

    1. Running a business is a passion you crave.
    This is a necessary, but not sufficient reason to start a business now. It's not the same as "I want to change the world (volunteer for a good cause)" or "I'm tired of the corporate grind (take a vacation)." It does mean you have a compelling new business idea, and a willingness to face risk.

    2. You know what needs to be done, and not afraid to make the decisions.
    This is the right context for being your own boss. You get great satisfaction from overcoming all obstacles, and you have no problem with living or dying by your own decisions. You have never had a problem putting together a plan and making it happen

    3. The opportunity to make real money excites you.
    You have read all the stories of Google and Apple hitting on a great idea, beating the odds, and being worth millions in just a couple of years. You like the idea that most of the money you make will be yours, not just merged into corporate profits.

    4. You believe the economy has tilted the odds in your favor.
    The recent recession has definitely opened up opportunities for new products, and skilled people at lower costs are abundant. Many of the great entrepreneurs of the past started their companies near business recessions and depressions.

    5. You get to set the deadlines, and manage your own priorities.
    You have always felt that you can do more than expected by current bosses, if allowed to do it on your own schedule with your own milestones. Your self-motivation is more effective for you than any arbitrary rewards and even salary increases.

    6. You get to do the interesting things, for a change.
    First of all, the business you intend to set up is your dream, not someone else's. Within that context, you can delegate or find partners for things that bore you, like marketing, rather than feel that you have been assigned to do the least interesting work.

    7. A variety of challenges stretches your abilities to the maximum.
    If you love to learn new things, and are stimulated by change, you will love the new business environment. Every day is different, from dealing with creative elements, to financial challenges, marketing and sales, and customers of every type.

    8. Your office is where you want it.
    Many entrepreneurs enjoy working from their home, where they are more comfortable, and can interact better with their family. Some like an old eclectic loft downtown, or a local coffee shop to minimize the commute. In these days of global links, you can actually run the business from halfway around the world.

    9. What you envision doesn't seem all that hard to you.
    In fact, the cost of entry into most businesses has come down greatly in the last twenty years. You can now start an e-commerce site for $100, or develop software applications for smart phones for a few thousand. The right reason to start a business is because you have done your homework, and are convinced that you have the skills and knowledge to do it easily.

    10. You are really ready for a second career.
    This is especially applicable to Boomers and anyone who has had a successful career, but now ready for a new challenge, with a little time on their hands. The good part of having your own business is that you don't even have to give up your first job to start the second.


    By: Martin Zwilling
    Source: finance.fortune.cnn.com/2011/11/14/10-clues-that-its-time-to-start-your-own-business/
     
  2. Mark T

    Mark T
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    I really like having my own business even before. The problem is that I lack resources to start a business, as well a enough knowledge on HOW to start it. That's why I first applied for a job and then earned money, studied quite a bit about having a business and how to manage one - I am not an expert but all I can say is that my effort were paying me well. I have god results coming in from my business these days.
     
  3. stellaandreapark

    stellaandreapark
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    It is important that you give passion to your business and that you continue to love what you do. In starting a business, it is normal to take risk but as long as you are determined and love what you do, nothing can really hinder you in achieving your goal.
     
  4. Mark T

    Mark T
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    Some attitudes that might help you succeed in your businesses are:
    - Optimism
    - Patience
    - Hardwork
    - Commitment
    - Goal-oriented
    - Flexibility
     
  5. D Alishouse

    D Alishouse
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    In addition to these clues I would add that you must develop a strong work ethic, be able to focus on completing tasks and know that it is rarely a fast and easy path to success. Being able to discern your own strengths and find others who compliment you is something you may want to consider. You can do this either through outsourcing or partnering with other hard working individuals. Running your own business brings with it great freedom and great responsibility. The road can be long but the rewards are great.
     
  6. Tiger13

    Tiger13
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    Great point about staying driven to succeed in a down economy. Rockefeller's most famous quote about "blood in the streets" is in reference to staying focused and making calculated risks that others would shake their head at.
     
  7. Shahrier

    Shahrier
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    Those are good signs of when you should(or could) start your own business. These signs occured to me many times and so I took the opportunity.
     
  8. carrotinvestment

    carrotinvestment
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    In addition to this setting is also important.When setting up your sim's first business, size is important. Location, however, is not. While it may seem that setting up in a certain area would be better, you'll get the same number of customers regardless of where you are. A big store, though, will attract more customers than a small store. If you cannot afford to buy an empty lot to build a store, start the business in the sim's home. Turn a room into a store and build entrances exclusively for the shop so family members do not interfere with customers. Set up shelves with enough room for the items your sim is selling and room to expand later as she earns money. Make sure to buy a cash register and a counter. Your cashier should be able to easily get to the register, and customers should have room to walk to the shelves and cash register without getting in each others' way.
     
  9. rjd1265

    rjd1265
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    my clue was when i got fired and could not find a new job. Figured why not be the boss so i can never get fired! so far so good!

    Good post by the way
     
  10. ThirdSEO

    ThirdSEO
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    I'm all about the idea of creating something from nothing. I'm a very creative person and it has paid off many times over being an entrepreneur. Both creativity and entrepreneurial spirit are things you're born with. It's really hard to learn these forms of "art" after you reach a certain point in your life.
     
  11. NickName

    NickName
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    Thenk you for these 10 clues, I saved it. Maybe later when I will decide to open my business I'll write there about my success(hope that it will be success).:D
     

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