David Wray

AdaptingChangeGoal SettingSkills

Post COVID-19: Thinking of Starting a Business?

Credit: Vecteezy. Starting a Business – Planning for Success

Starting a Business – The Backdrop

Being one’s, own boss is a dream for over 50% of people according to research by Forbes, Inc.com, the New York Times and others. The freedom to set your hours, the high income potential, working from home, or exiting the “corporate rat race” are all reasons for starting a business. 

But before you embark on this path consider whether a simple reframe of your existing circumstances might serve you better. Do this by exposing yourself to alternatives, for instance if you have a corporate role – go and work in a physical role for just one day. On a farm, rice field, or in a mine – do you still want to start your own business? Sometimes a regular salary and a less physically demanding job is nirvana!

In addition to the typical starting a business challenges and limited funds, consider the reason(s) you want to start a new business. Are you running towards something or away from something? Do you have the passion and stamina necessary to work long days for little to no money for a while (probably a long time)?

Self-exploration is important, take the time for this so you can set yourself up for success, whatever your decision might be.

Decision made, let’s get started. Note: How to Perfect any Skill – and Have Your Friends Begging for Your Secret”  can help you in the entrepreneurial skill quest. 

What and how can you do it?

Many books are available on the subject, with varying suggested steps to start your business. This blog will help set you on a productive path to achieve the best outcome. Whether you ultimately decide to forge ahead or you decide not to. 

In my experience, there are a few keys things necessary to assure the best chance of success:

Steps to Start a Business

These are the milestones that require reflection before you embark on a new business venture. Skipping this step ends in an expensive heartache for too many.

The rewards can be great – quality of life, financial security, flexibility and change amongst others. But, being self-employed is not for everyone; a fact best discovered before risking hard-earned savings. However, for those that embark with eyes wide open, it is an absolutely thrilling ride!

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