For some people, it’s the absolute dream to become your own boss. Whether you have visions of living a freelance lifestyle, or you want to be the CEO of your own company, there are ups and downs of being your own boss. Because it’s not all setting your own hours and watching those pounds pile up. Being your own boss takes a lot of work, a lot of long hours, and even some sleepless nights. And it’s for this very reason that you need to be aware of what it takes to be your own boss. From personal qualities in you to the things you’ll need to buy to make this happen, if you’re serious about going it alone, here’s what you’ll need.
The number one thing you need to be your own boss, is drive. And this comes in two separate packages; motivation and determination. Firstly, you have to be a self-starter. You do set your own hours, so you need to be motivated to get up and make the money roll in. If you’re too lax with your time keeping, this might not be the avenue for you. But you also need determination. Because when business is bad and you’ve got a 90 hour week ahead, you have to have something in you that will pull you through. More often than not, it’s the drive to succeed.
And yes, you’re probably going to need some cash in one form or another. This could mean you need to look into business loans to help you buy everything you need to get started, or even an investor to help your company take off. But you’re also going to need money in the bank too. Because nothing is certain when you’re your own boss, not even your income. So you need those savings to fall back on should you not see a salary for awhile.
Then, of course, you also need some customers. Whether they’re consulting clients or customers to buy your product, you have to know exactly how you’re going to get them. If you are going freelance, it can be handy to know that you have people lined up wanting to work with you when you do. Because this is often your biggest challenge.
Next up, you’re going to need some stuff. From a desk to an internet connection, you need to know exactly what you need to get your business up and running. If it is just a laptop and a website, it might be easier for you to pull together than a manufacturing plant and a prototype. But you still need to nail this section before you start out on your own.
And finally, you’re going to need somewhere to put all of that stuff (and yourself), in order to work on getting those clients and customers - and keeping them happy. So whether you’re creating a home office to start with, or opening up a commercial space, you need to be thinking about how you will do this and what it will cost, along with everything else, before you decide to go it alone.