Regardless of the fact whether you are considering starting your own business project as a full-time job, or simply working on it during the weekends, it is a good idea for you to bear in mind a few things which might have significant influence on its success. Here is what you need to think about, while getting prepared for such an important endeavour.
Do Not Do This for Money
No matter how successful your idea may turn out to be, it is going to take some time until it starts generating profit for you. At the beginning you are even going to invest much more, compared to what you are going to receive as an income. Do not rush to leave your current position and dedicate yourself to your new passion, because it is also highly possible that you might lose it even before it reaches its full potential. However busy it could get, try to balance between the two things. In doing so, you are going to provide yourself with the peace of mind to have a permanent income as well as follow your personal aspirations.
Share with the World
You are actually going to be surprised how very few people have the desire, energy and opportunities to make use of your idea and develop it as their own. Therefore, you are not supposed to keep your project to yourself like a government secret, but quite the opposite – put it out in the open and discuss it. With the right people, apparently. Search for a mentor and some like-minded entrepreneurs to join forces with. Apart from that, in today’s globalised world you could delegate a large amount of the tasks to freelancers, in order to focus your attention to the overall picture of the situation. If you feel like your employer is going to show understanding, you might even want to share with them the intentions for starting your own business. In this case it is of paramount importance how you are going to present your ideas in front of them, so that they wouldn’t be perceived as a possible threat.
Do Not Overestimate Your Abilities
The harder you work, the more tasks you are going to be overwhelmed with, and before you know it, you will have to literally juggle with everything that needs to be done during the day. Be mercilessly realistic about how much time you can actually spend for your job, for your side project and, obviously, for rest (there is no way for things to happen without giving yourself enough rest). Will you have to work tirelessly at night? – Yes. Are you going to have to check your emails during the summer holidays? – Yes. Are you going to have panic attacks and sleepless nights because of the things that did not go as perfectly as you wanted them to? – Yes. Think about what you are ready to sacrifice, so that you could develop your business idea properly. Should you choose to embark on such an adventure, however, apart from the abovementioned inconveniences, you are also going to substantially extend the network of people you socialise with, you are going to deal with complicated situations much more quickly and, eventually, you will get the satisfaction of having walked all this way until the end.
Learn through Sustainability
The first year it might not be the best thing which you have ever created, but this is not supposed to stop you. Sometimes it takes three and maybe even four years before the invested time and efforts start paying off. You might find this a little bit boring, but there is no shortcut to success in business – only hard work and steady diligence. Sometimes you only need to dive into the work, knowing your passion, and have faith that the combination of these two is going to produce fruitful results. There are probably hundreds of people who do the same thing as you, but only you have the power to make it different. Find an unusual point of view on the subject and work, always drawing inspiration from it.
Give Yourself Enough Rest
Not sleeping enough, because of the fact that you couldn’t manage to deal with all the 50 tasks for the day or answer those 300 emails in your overcrowded mailbox, does not really make you any more effective. Accept the fact that some aspects are going to take priority over others, and that in certain days you might have to not do anything at all. Why otherwise put all this effort into this unless it is for a better lifestyle? Discover a way to rationalise your daily duties and find the balance which is right for you. If you don’t know where you are going, how do you think you will be able to get there, anyway?
Always work hard, but know how to celebrate your success.
Text: Ivayla Vlahova