ARE YOU READY TO START YOUR OWN BUSINESS?
In a Facebook group I am a part of someone recently posted they had launched their business a day before and had no sales yet, they were expressing how anxious they felt and already feeling like they wanted to give up.
There was SO much I wanted to say to her but the post got removed and so it sparked this blog post here (as well as other future ones), so if you are thinking about starting a business or you just started one and you want to know if you’re ready, then this blog post is definitely for you!
Deciding to own a small business is a big leap, and knowing when you’re truly ready for it involves a blend of practicality, passion, and preparedness.
It’s like knowing when you’re ready to run a marathon. You wouldn’t just wake up one morning, lace up your sneakers, and hit the 26.2 miles without any training, right?
Similarly, diving into the world of small business ownership requires a bit of a warm-up and some serious soul-searching.
LET'S TALK MONEY
We’ve got to talk about the financial side of things first because, let’s face it; money talks. Are your finances in a healthy place? This doesn’t just mean having the capital to start your business or secure a loan IF you need to buy stock for example. It’s also about having a solid financial plan and a cushion for those initial months or even years when the business might not be profitable. It’s kind of like packing an extra pair of socks for a hike. You hope you won’t need them, but you’ll be glad they’re there if you do.
Having said that, it’s a common misconception that starting a business requires a hefty bank account or a rich nana ready to throw cash your way. The truth is, while having some capital can certainly ease the process, it’s not an absolute necessity.
The digital era has significantly lowered the entry barrier for many types of businesses. For instance, if you’re leaning towards offering a service, such as consulting, writing, or graphic design, your initial costs are surprisingly low. All you really need is a laptop, an internet connection, and your unique set of skills. Plus, there are countless free resources online to help you hone your craft and learn how to market yourself effectively. Social media platforms, in particular, offer a fantastic, cost-free way to get your name out there and start building a client base. Also, remember; to start you don’t have to have it all, it is ok to start with low stock, to promote using mock-up images, it’s ok; it doesn’t have to be perfect straight away.
Then, there’s the power of bootstrapping too. This approach involves starting small, reinvesting your early earnings back into the business, and growing organically. It might mean slower growth at first, but it allows you to maintain control and learn the ins and outs of your business without the pressure of paying back loans or investors.
In essence, the barrier to entry isn’t about how much money you have; it’s about your willingness to start with what you’ve got and grow from there. With a bit of creativity, persistence, and the right strategy, you can turn your business idea into a reality, no matter your financial starting point. So, don’t let the myth of needing a lot of money hold you back.
IT'S NOT JUST A JOB
Then, there’s the passion and the skills. Owning a business isn’t just a job; it’s a lifestyle. Do you feel a strong passion for what you’re planning to do? Are you ready to wake up thinking about your business, spend the day working on it, and go to bed with plans for the next day? Plus, it’s essential to have or be willing to develop the skills necessary for your particular business. Imagine you’re joining a band. It’s not enough to love music; you need to know how to play an instrument or sing.
HOW'S YOUR FLEXIBILTY?
Lastly, are you prepared to learn, adapt, and sometimes fail? The road to successful business ownership is rarely a straight line. It involves making mistakes, learning from them, and being flexible enough to adapt your strategies as you go. It’s a bit like playing a video game where you have to navigate through various levels, facing new challenges and learning new skills along the way.
SO... ARE YOU READY?
So, are you ready to own a small business? If you’ve got a solid plan, financial stability, unyielding passion, the necessary skills (or the drive to learn them), and the resilience to face challenges head-on, you might just be ready to take the plunge. Remember, it’s about the journey as much as the destination.
Your entrepreneurial journey is waiting for you, and there’s no better time to start than now.
Enjoy the ride!
YOU'RE INVITED!
There’s two groups on Facebook that will benefit your business and I want to warmly invite you to join them!
I am very aware small businesses are doing it tough out there and by offering these groups I am giving you more opportunities to grow, to connect with other business owners and massive sense of community because you are not alone out there!
The first Facebook group I would love you to join is Shop Small New Zealand , this is a group where small businesses from New Zealand are welcome to post daily – for FREE – about their business and their products. You can join for free and post for free, all we ask is that you help us grow the group because the bigger it gets, the more active audience we have, it benefits us all!
At the time of this blog post there’s already 7600+ members in the group with about 72% of them being active in it on a regular basis!
The second group on Facebook – also free to join – is my Learn>Grow>Sell group. This one is more for your business support, it’s where you – as a small business owner or someone who is thinking about becoming one – can ask any question you might have related to (your) business and I’d like to add; nothing is ever a dumb question; we have either all asked the same question before OR are wondering about it ourselves right now! It might surprise you how many other people you help by asking your questions 🙂
We’re a very friendly community too, it is important to me that you feel safe to grow your business with the help from the group.
Well written. Starting a small business is ‘ no walk in the park’, but being realistic and thinking hard about all you will have to give to your business idea is essential.
Thank you so much – totally agree!