Being Self Employed – Initial 5 Pre-Launch Steps
The Absolute Fundamentals
In a previous article, Affiliate Marketing: What It Is and How It Works, three questions were posed to ascertain readiness to launch an online Affiliate Marketing Business. Now, after quite a bit of feedback which included some very basic questions regarding becoming an entrepreneur in general, it's time to take a back step and clarify the need to do a serious in depth assessment of self-employment readiness.
First one must truly be ready to work and put in long hours to prepare themselves for the discipline required to becoming a successful entrepreneur. Working from home or even a small office can generate more stress than going to an established business that simply demands you 'clock' in and perform specific tasks for an 8 to 10 hour shift! Of course there will be many sacrifices made initially involving time dedicated to becoming expert at providing your own [or others'] goods or your services in a professional manner. Being an employee for a thriving business, even at the management level, doesn't necessarily equate to being a creator of a thriving business. The Small Business Administration offers excellent free guidelines, assessment tools and other information to assist would be home or small business owners in building a solid foundation for the success of their ventures.
There are necessary steps to take before even deciding that self-employment will 'work' for you. I call these the 'Pre-Launch Steps' and they're designed to help you determine the difference between wishful thinking and serious dedication when it comes to becoming an entrepreneur. The first 5 Pre-Launch Steps are listed below.
Evaluate your readiness to start your own business. Are you ready? Have you done any research on managing or starting a business? What is the major reason you want to start your own business?
Examine your self worth. Are you willing to invest your time, money and energy into your own desire to be an entrepreneur? Can you trust yourself with the responsibility?
Create a 'design' for your business. This is generally known as a business plan and the question here is do you know what a business plan is? Have you drafted your business plan?
Know the legal requirements for your business. Simply put, what format will your business take? Will it be a Partnership [perhaps you and your spouse or a close relative or friend]? Is it to be a Limited Liability Corporation?
Be prepared to compete! What is the market for your products or services? Can you out sell your competitors?
These are the absolute fundamental questions that must be earnestly answered before taking any further Pre-Launch Steps. It won't matter how good your product or service offerings are if you can't produce in a timely manner or if you cannot meet your contractual obligations with clients. Also, if you aren't prepared to work without 'breaking even' for a year or two then you must be willing to look at financing options and how much they will cost you in the long run.
There are major emotional and mental rewards in working at something you enjoy, generating a comfortable income and doing both as your own boss! There are also major emotional and mental responsibilities that you will mainly have to depend upon yourself to handle. Securing the services of a qualified business consultant or coach can provide an objective look at your qualifications for becoming a business owner along with the viability of making money in your chosen business arena. Many local and county Better Business Bureaus and/or tax assessor/collectors offices can provide names and contact information for business coaches that offer low rate and free services. Your local public library is also a great resource for finding affordable Pre-Launch resources.
I have found that many people fear failing more than they look forward to succeeding! Sometimes, becoming a member of an association or social organization whose members are in business for themselves is a good way to see that everyone in business is just like you: a person with skills, work ethic and a desire to take control of the money generated from the work performed! It's also a great way to network and promote your business once it does get launched.
Unfortunately the US job market is in a serious down turn at this time and so is the economy. If you're certain that what you're getting paid to do for somebody else can be done more feasibly AND comfortably for yourself then you've already got the main component for the foundation of your business: vision.
YE is Here!
YE is an author; electronics, computer & gadget geek; certified holistic health consultant; grandmother and devoted traveler that currently resides in Georgia. She can be contacted for interviews, consultations and general comments at either of her websites.
©2008 S.U.R.-B.E.T. Publishing
