If you are tired of your salaried job, it means you are two stages away from becoming an entrepreneur. The first is to leave your job and the next action is to set up a business.
While it may seem easy to move from employee to entrepreneur, there will certainly be some challenges in setting up that business.
If you are still contemplating starting a business because you’ve not taken the bold decision to quit your job, then this blog post will be of immense benefit to you.
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Here are factors to consider before starting your own business:
*Interact with Prospective Customers*
Look for some people who you believe can become your customers when you begin the business.
Find out what they need most, their expectations, and fears as it concerns what they really need.
Also, try to find out if there are benefits attached to the product or service you want to offer. While doing your findings, take note of the words they use, as they can help your marketing ideas.
*Look for Capital*
Being a small business, it is mandatory to save up some money to survive the business in the first few months.
However, if you wish to go bigger, then you should consider looking for venture capital or another source of investment.
*Establish Your Company Structure*
This is the time you’ll want to consider how your company will be structured. Choose whether you want to incorporate, register a partnership or a limited liability company.
Note that whatever choice you make should be backed up legally and then, clearly spell out the responsibilities of each member of your team.
*Start a Low-Level Business*
If possible, set up your business on a low-level while you still maintain your job. The essence is to reduce the risk in testing your ideas.
Gradually grow your customer base and see if the business maintains a steady growth within a period of time.
*Quit Your Job*
If you are ready to do business, then leave your salaried job. It may look like a huge relief after all the services you have rendered, but certainly, there is more work to do.
As you leave your job, please do not shut out former colleagues and managers, as you never know if you will need to work with them in future.
With all these, you will agree that becoming an entrepreneur requires a lot of hard work before you even think of leaving your salaried work.
Nevertheless, if you consider each of the factors I raised in this write-up and your idea looks workable, then you can confidently leave your job and become that entrepreneur you so desire.
