Things to remember when breaking into business on your own

My blog is my little business and it is something that turned from a hobby into a passion for a career. So, I am a big promoter of following your dreams in your career, no matter what your age is. There is never a right age to change your career.

If you are thinking of starting your own business what should you take into consideration?

Cashflow –  

This was one thing that almost killed my self-employed dream when I started working more from home. With people not paying when they should be or just dragging their heels altogether, keeping the finances flowing was tough at time. Merchant Cash Advance is something to consider if you are running a business where you can take card transactions as it allows you to borrow some cash whilst paying it back as a percentage to your card transactions taken.

Things to remember when breaking into business on your own

Time –

If like me you are still going to be working in another role whilst you are building your own business time is going to be hard. You have to commit your time to your business in order for it to grow and it can be difficult whilst you have everything else going on around you. To make this work you need to plan when is good for you to work. So, for me, I work on my blog in the morning before I head out, getting up early before everyone else. Then I catch up on emails at lunch and quickly after work.

It can get a bit manic but it works for me, there is no right or wrong. It is all about finding the right balance.

Costs –

No matter what business you have there is always going to be some outlay involved. So, for me, I have the cost of my hosting and domain. Plus, the obvious ones of needing a laptop and broadband etc.

There will always be some cost involved, so before you take a jump into business make sure you just have a little think about where the costs are going to arise and how much they will be. Other things to consider are should you plan to expand in future there will be more costs involved, this includes things such as HR which you could use HRIS Software. There are also things such as VAT returns and payroll costs should you take on employees.

Have a plan –

The hardest part of making my blog business has been not having a plan in place for where I want to take it.

At the start sit down and really think about what you would like to achieve from your business and where you see it being in a year, 3 years and 5 years. This helps you to break down the goals and targets you need to get to this.

Take baby steps to achieve your dream, a step forward is better than standing still!

If you are taking the jump into having your own business good luck! It is an amazing feeling when you can turn around and say, I achieved this.

Things to remember when breaking into business on your own

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