You’re probably tired of dragging your weary body out of bed early in the morning and rushing to catch your train or cab, only to find out you still won’t make it on time because of the traffic or because the elevator chose this day to conk out. This is a scenario that may drive you to want your own business.
First of all, you’re not alone. Millions of people around the world dream of starting their own business, and not just because they couldn’t catch the 8:00 bus anymore. Something about having your own operations makes you proud and happy, even if you have to live on Chinese takeout for those critical months before you make any profit at all.
If you are plunging head-first into it, however, leaving your job and throwing caution to the wind — a romantic notion — you may be making a big mistake, and before you know it you’re back to meeting deadlines for someone else.
To raise your chances of making it in business, here are some ideas you may follow.
Plan It Well
Planning is a serious part of starting a business. What kind of business will you be setting up? What do you need to make it happen? These are very general questions. The trick is to address your answers down to a detailed level. Getting help with your planning, even just by checking out other business plans, is one way to ensure you do it right.
Get a Coach
If the planning itself is already becoming a burden, don’t give up. There are ways to get better at it, like getting small business coaching services. A good coach will help you answer many of the questions you already have, and inform you which other questions you should also be answering. They will help you learn the legal and documentation side of the business, the hiring, accounting, and more.
Find a Mentor
A mentor is typically a successful business owner or investor who will take an interest in giving you crucial pieces of advice and even introducing you to contacts who may be able to help you as well. Sometimes, a mentor may also be a teacher, a lawyer, or a coach. If you have a parent or other member of the family who’s adept at handling a business, they may also be willing to mentor you.
There are many other ways to prepare yourself for owning and operating a small business. There may not be a way to totally avoid failure, but at least make an effort to reduce the chances of that happening.