Many people dream of running their own business. The idea that we can be our own boss, do as we please and not answer to anyway, work the hours that we want and basically do whatever we like is very appealing. It is also appealing to think about some of the people that started their own businesses and how successful they have become. Some of them have sold their businesses for a lot of money or still run them and make a lot of money out of them. This must be appealing to a lot of people.
Starting a successful business is not as easy as it can look though. It is easy to think that you could just be able to come up with an idea and run with it, building a business up and having lots of fun, reducing your working hours and earning lots of money. Unfortunately if you speak to anyone that runs their own business, you will understand that things are not quite as cut and dried as that.
Firstly you have to find a niche to fit into. This is not as easy as might seem. Finding a gap in a market is difficult and then finding the right thing to fit that gap is also tricky. Then the hardest part can be letting people know about your product and encouraging them to trust you with their money and buy it.
Starting on your own means that you will need to learn a lot of things. Not only will you need to know about the good or service that you are selling but you will also need to know about how to sell it, accounts, law, taxes, advertising, marketing and many other things. It can take a long time to learn all of these things and you will need to know about them all as soon as you start the business. So unless you have time to learn them first or are lucky enough to already know about them, you will need to be prepared to do a lot of learning, very quickly.
You will also need to consider your working hours. Setting up a business is a lot of hard work and you could find that you will be working every possible hour that you can to get it up and running. Even once it is established it can be difficult to reduce your working hours. You may not feel that you can trust anyone to take over some of the roles so that you can have a break or you may not be able to afford to pay someone else to do it. You may find that you will be working all hours that you can which could mean that you have very little leisure time. This could be especially difficult if you have a family that want to see you or if you have a home office so you are never separated from your work unless you go out.
So to be successful you need a lot of knowledge, time and the perfect business idea. It is possible but it will take a lot of commitment.