Sunday, August 10, 2014

Are you Ready to Become an Entrepreneur?

Tips to Help You Transition from Employee to Business Owner

Becoming successful owning your own business takes more than a great concept and the right business connections. While these two points are important, making the jump from working for someone to working for yourself takes a complete mindset change that may also include changing some habits along the way – some of the habits that we work tirelessly to master as good employees often do not help but hinder when it comes to being your own boss. Making this important mental transition is the key to becoming successful in your business and helping it to thrive for years to come.

Prepare Yourself to Play Multiple Roles

When working as a fulltime employee, individuals are generally tasked with handling one area of the business. When something goes wrong with a program, server or piece of equipment, unless that is your given position, you would usually call someone else to fix it. When becoming an entrepreneur, you become the person that everyone calls when things go wrong – small business owners are the accountants, IT department, marketing managers and sales representatives for their business. When transitioning to these new roles, make sure you are ready to be everything to everyone in your business.

Working Long Hours is OK

When people imagine working as their own boss, the usually imagine more leisure time and signing into check on their business while lying on the beach in a faraway country. The hard reality is that owning a business is nothing at all like this – being an entrepreneur usually means working longer hours than when you were a fulltime employee for someone else. Starting and maintaining a business is a lot of work, which is why it is crucially important to break into a business or industry that you love. Like grandpa always told us, “if you’re doing what you love, you will never work a day in your life.”

Practice the Art of Saying ‘No’

One of the skills that we work to improve while being an employee is the idea of saying ‘yes’ to everything and working hard to get recognition. Saying ‘yes’ generally equates to being reliable, responsible, hardworking and a team player, all the things employees should strive to be. But, when you become an entrepreneur, it becomes more and more important to teach yourself the art of saying ‘no’ when something is simply not feasible. Focusing on your and the business’s main priorities is most important and when there is no time to work on something else, you need to be able to say ‘no.’

Make Sure to Manage Money Properly

While many of the points that have been discussed focus on an individual’s mindset, it is also important to complete some practical tasks as well to help the business, and yourself, be successful. One of the hardest areas for new entrepreneurs to handle is going from being a salaried worker to wondering where the money will come from to pay the mortgage. In order to help relieve some of the financial stresses, start putting money into an account before you leave your fulltime job and make sure there is enough money to cover at least 6 months of expenses before striking out on your own.

Do you need help starting your own legitimate home business? Did you know Stacy O'Quinn once stood right in your very shoes and used Dani Johnson training to create a six figure income and enjoy financial freedom? Stacy would love to teach you everything he has learned and get you started with your own opportunity! To learn more about Stacy, click here.

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