Getting Ready To Start Your Own Business? Read This First
We've all seen quotes and posts on social media promoting financial independence. In fact, some content is specifically geared towards encouraging people to utilize extra time for starting businesses. More and more, entrepreneurship has become increasingly popular, and with the rise in expenses, it's almost necessary to have a "working hustle".
Here at The Champagne Series, we're all about the hustle! The thing is, while extra money is always a good idea, the outside hype causes many of us to rush into things. Without considering what owning and running a successful business entails, we sometimes choose to jump the gun.
After a lot of research (and reading some really good books), we're breaking down 4 signs that let you know you're good to venture out on your own!
1. You understand that owning a business is more than being the best at (insert your talent here)
We'll say it again - Owning a business is more than just doing a great job at whatever it is you do. It's wearing multiple hats every day of the week. When starting out, you're more than willing to handle being the entrepreneur, the manager, and the technician (the doer) in order to flourish. You know you have the ability to allocate what needs to be done in the early stages of development until eventually, you create a system that functions without you.
2. You have vision
Vision is the catalyst for change and it enables you to create and shape your future. Owning a business means that you know how to innovate, implement, and take control in executing ideas. Your creativity leads you to think out of the box and create possibilities out of what others deem impossible. You know when to slow down and equally when to forge ahead. You can answer the question of "Why" that inevitably comes when providing your services. You can live, think, and work for the future while operating in the present and continuing to offer the same high-quality service for which you are known.
Every effort and thought regarding your business is based on forward-thinking - ie: how can the business thrive without you being there every day because...well..isn't that the point of owning a business? Any business that can't function without you becomes a job and having a job defeats the purpose of owning your hustle!
3. You understand that operating based on what you need for the future is more important than what you want right now
When you're in charge, you know how to make decisions in line with what is best for the business. You can make the tough choices; whether that's putting in extra time at night or choosing to cut your own salary in order to cover business expenses.
You understand that creating the flexibility and financial security you want does not come as soon as you open your doors to the public and you are fine with putting in double-triple the hours while holding yourself accountable during your company's growth process.
4. You understand that owning a business is to expand horizons
Owning a successful business requires you to evolve to the point where you have someone to work the field, market your company, handle your accounts etc. When starting out, you are aware that in your hands you can create not just jobs, but, opportunities for others to learn, dream, and attain promotion! Your goal is not to run yourself ragged, but to liberate yourself and others of the things that wore you down when you were working for someone else.
It's easy to want to start your own "thing," because...who doesn't want to be their own boss and make more money?
But, there's so much more to consider than just the fun parts --- there are things like finances, legalities, licenses etc. However, if you check off most of the items of this list, then you're already on your way to being a great business owner! Ideas are a distinct reflection of who you are, so if you have that entrepreneurial mindset and you're ready to put in the work, we say get ready to start your business --- because, as we mentioned in our last blog, life is all about creating your own reality! If you're not ready or starting a business just isn't for you, stay tuned for Part 2 of our business series - "I'm Not a Business Owner...So, How Can I Make More Money?"