Updated: 4 days ago
What To know Before Launching Your Business
Having an idea is great - chances are someone, somewhere has already done it. However, what makes you stand out from them? The importance of refining or even redefining your company’s message, goals and audience is critical - especially in the beginning. For example, your company name should be clear and have some significance behind it. Jeff Bezos, after some rebranding, named his company Amazon as a nod to the largest river in the world, he knew that his idea of an online store could unravel and expand to what it is today. The point? You have to see the potential in your business.
After seeing just where you could go with your endeavors, consider niching down. Plan out who your target audience is and how your service or product can be advantageous for them. Once that’s done, focus on the gap within your niche that is currently being overlooked and see the needs that need attending to.
The Curse and Blessing of Self-Employment
“Know your workdays and set aside a few hours to accomplish that work. Remember, working for yourself isn’t a typical job. There is no one checking in on you everyday making sure you’re on top of things.”
Whether your running a small company or a freelancer, no doubt working for yourself full-time has its benefits. A flexible schedule, more time with friends and family and the comfort of working from home. But if you’re not the most disciplined, you can find yourself in hot water. Stick to a schedule. Know your workdays and set aside a few hours to accomplish that work. Remember, working for yourself isn’t a typical job. There is no one checking in on you everyday making sure you’re on top of things. If you have employees under you, there’s accountability owed to them. If independence appeals to you, then these things will only be minor worries.
One of the biggest advantages, however, is that you can make more money as an independent freelancer or business owner than those who work traditional employment. By extension, you can write off the equipment, rooms or whatever you directly use for work and anything you buy for work can be considered a work expense come tax season.
Now that you work for yourself, find the proper balance between your work and personal life. Don’t mix the two, overlap them or give one or the other unnecessary amount of attention. One of the joys of self-employment is you don’t have to work yourself to exhaustion. Yes, you will have days where you're busier than others and tired at the end of them, but don’t make it routine.
“Be original, show off your style, and tell your story.”
Learn from your failures. It can be discouraging getting piercing criticism or harsh feedback, but as mentioned earlier, take this as your opportunity to go back to the drawing board and refine your idea. Chances are the idea itself isn’t the problem but your delivery. Perfection isn’t a given, it is earned. Get up and earn it! Evaluate the mistakes you’ve made and take away something valuable from them. If you’re not learning from past failures, you could be lacking the vigilance and clear sighted mindset you need to keep moving forward. In other words, you’re stunting growth in it’s most crucial moments of development.