There are many reasons why people decide to start a business. Some of them expect to get rich quick, while others simply want more control over their own lives. Others may want to be their own boss, have pride in accomplishing something great, or just have an idea that won’t stop nagging at their brain. Unfortunately, not everyone who decides to start a business actually makes it. Despite the fact that there is tons of information available for starting a business, many just don’t have what it takes to get it off the ground. In fact, Authors Edward D Hess and Charles F Goetz say that 70% of all startups fail. So what does it take to start a business?
Recognize Your Need for Change
This advice comes from Entrepreneur Magazine. Before you can actually step out and start your own business, you have to recognize the need for your product or service, but also see the need within yourself to become a small business owner. If you do not like your current job, etc, it is up to you to change it. No one can do this for you. You can blame your boss, the nation’s economy, your wife, friends, or anyone else, but it is up to you to make the changes that make you happy. The first step to starting a business is recognizing your need for change.
It Isn’t Swimming, Don’t Just Dive In
Contrary to popular belief, starting a business is not like learning to swim. You should not just dive in and hope for the best. If you jump headfirst into starting a business without the knowledge and talent needed to make it work…it won’t. Even if you know how to do your service, or create your product, you will need at least a basic knowledge of marketing, accounting, and business management. Even with all of the information that is available online for entrepreneurs, jumping in too quickly to starting a business can leave you without enough time to research and learn these needed tasks. Gain the knowledge first…start slowly… don’t just dive in.
Don’t Quit Your Day Job
This advice shows up in a lot of entrepreneur columns, and for good reason. Until you have reached the full maturity of your business idea, you should never quit the job that pays the bills. Research your plans thoroughly to make sure that your plan is a viable one. Develop a to-do list and complete it, and make sure that your business idea is going to support your lifestyle before you give up the bread and butter maker.
Ignore the Negative People
When starting a business, it is important to ignore those who can only speak negativity to you. While it is important to research your ideas and make sure that they are viable, you do not need to be surrounded by those who are constantly degrading your ideas. When someone tells you that “it will never work,” listen to their thoughts, determine if they have a valid point, and if not, move on to other input. Surrounding yourself with positivity could be the key to making or breaking your business.
Of course, when you are just starting out, it is important to save money wherever you can while still impressing potential clients and customers. One way that you can do this is by using Offix coworking space in Wellington or shared office space in Wellington. With these options, you can enjoy all of the advantages of a traditional office space at a fraction of the cost!