The global economic instability and increasing competition from low-cost countries has created a highly unpredictable job environment. “Job Security” seems to be a relic of the past. Gone are the days when a job brought better financial stability and predictability than a business. If that is the case, where is the advantage of choosing a job over the challenges and uncertainties of entrepreneurship?
However, this does not mean that entrepreneurship does not require preparedness. Here are some key suggestions for anyone toying with the idea of quitting a 9-to-5 job and becoming his or her own boss:
Work on an Idea
Great enterprises are created out of great ideas. It is important to widen the horizons, expand knowledge levels, meet enterprising people, attend business events and seminars, read business magazines, and explore the Internet wisely. It is not necessary to invent a new idea from scratch. Innovation, and not invention, is the buzzword in today’s business. That requires creative thinking and creative application of the mind. It is not rocket science.
Acquire Necessary Experience
Impatience of youth does not mean entrepreneurship. A more determined and calculated way to start an enterprise is to first gain valuable hands-on experience in the field. It allows a person to understand the insights and nuances of the business that cannot be learned without experience. Experience helps to avoid costly mistakes later on in business.
Cultivate a Network
Get in touch with old school mates, colleagues and friends with an entrepreneurial mindset and complementary skills. A strong team is in a better position to achieve success in business compared to an individual operator trying to fight a lone battle without any support in a highly competitive world. It takes time to nurture and build the right team with common goals and the right attitude.
Create a Comprehensive Business Plan
Spend maximum time and effort on creating a thorough business plan that is meticulous and detailed. The mission and goals of the business must be absolutely clear and focused. The financial budget in the plan must be worked down to the last detail. The marketing and advertising strategy must be pragmatic and innovative. The expected sources of funds and anticipated sales and returns on investment must be worked out carefully in the plan.
The most critical part of a new business is raising the initial capital. The most important goal must be to raise funds at low costs as far as possible. The risk of business can be spread out by raising venture capital and inviting financial partners to join in with a stake in the business. Therefore, innovative financial planning is a must to create a sound business enterprise.
Work at Home Ideas That Work
The Internet is inundated with work at home ideas, scams and opportunities – though, not all of them are in any way viable. It’s time-consuming and incredibly frustrating to wade through dozens, even hundreds, of online work at home jobs in hopes of finding true self employment. Sometimes, would-be professionals get taken, tricked into scams. Sometimes, they may end up giving up the search. But sometimes, they may discover that there are many work at home ideas which really do work.
Work at Home Ideas
The number of potential work at home ideas which may lead to self employment are literally endless. Any professional can use almost any skill to start earning income independently, but sometimes taking that first step is the most difficult. Get started with five work at home ideas which could lead to new income, and new self employment opportunities.
Proofreading. Great at spelling? Quick with corrections? Internet job boards are alive with proofreading gigs every single day, making this profession a good work at home idea. The Internet is so full of content (and content writers), somebody’s got to make sure everything’s spelled correctly. Search for proofreading work at home jobs on Internet job boards geared toward writers.
Bookkeeping. Accountants and financially-minded professionals may want to turn their skills into a viable, profitable work at home idea. Offer at-home bookkeeping and accounting services, allowing business to save on space and benefits, and launch a new self employment career. Files can be sent electronically, which completely eliminates the work commute.
Headhunting. Some employers don’t have the time (or inclination) to find their own employees, and that’s where work at home headhunters come in. Advertise services among businesses and employment-seeking professionals, then begin matching jobs to workers. Collect a small fee on every match to profit from this work at home idea.
Public relations. PR professionals plan events, represent important people and know how to talk to the press. Many public relations tasks can be managed via phone and Internet, making this career a good work at home idea for those who know the ropes of managing people. To build up a resume, offer to organize a few local events free of charge and start showing potential clients the possibilities.
Portrait art. Custom caricatures and other types of portraits make interesting gifts and unique décor additions. There’s a large market for specialized art and portraiture, which allows work at home professionals to take advantage (and, start making some work at home money).
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