Research shows the number of self-employed professionals in the US has grown by nearly 150,000 since 2014 (image: https://www.pexels.com/photo/adult-business-computer-contemporary-380769/)
While more than half of all business owners are between 50 and 88 years old, a good 33 percent are aged 35 to 49 and another 16 percent are under 35 years old. In recent years, an unstable economy, an increasingly well-prepared workforce and better provisions to be globally connected (i.e. being able to access and afford an effective Wifi connection), have enabled a large majority of individuals to become self-employed.
Despite statistics showing that 90 percent of these startup ventures will fail in time, if you’re focused, your product is good, the company grows fast and the team is adaptable, then you have higher chances of your venture being among the successful 10 percent.
Here’s how to embark on starting your own business:
Choose a niche
Starting your own business and making this successful is completely feasible if you put the right work in. Nonetheless, this will be a challenging journey. You may be forced to rethink your options once and again during the course. It has been mentioned several times that doing what you love is an important step in attaining success. If you are in the process of narrowing down your business offering or even choosing this from scratch, remember what it is that you love doing and feel passionate about. Once you identify this, it will be easier for you to focus on business ideas in areas in which you are already skilled.
Get computer support
No business venture is complete without the right amount of computer support. Even if you only have one computer that you rely on to do the work, chances are this will be faulty and let you down from time to time. Knowing the right IT professional to hire for the job when this happens is of paramount importance to ensure you don’t spend too long without your electronic device. This will also help you avoid being overcharged for hiring someone to do work at the last minute. Simply put, getting the right computer support before anything goes wrong will be key.
Recruit an awesome team
A leader won’t be able to attain success on his or her own. This usually happens with a professional team by her side. It has been noted that in order to become good at what you do and make your business idea successful, you should surround yourself with people who share your passion. As Richard Branson put it “Surround yourself with people who complement your weaknesses and share your passions. Success will follow”. These are the 20 character traits that impact your happiness most. Have a read and see if the group of people you are thinking of recruiting have any of these.
Although this is a mini guide to starting your business, the tips shared here will give you a good start as you begin your journey of entrepreneurship.