Making the transition from employee to business owner is always a huge challenge. However, you can become your own boss if you take the time to plan your self-employment journey. The first thing you should know is that everything takes time. This means you should not be in a hurry to give up your job and start your own business. Just give it time and you will get it right. Below are some things you should do if you want to become your own employer.
Save Money
This is the very first step on your journey to self-employment. You have a job now and you have a salary as well. Now, one thing you should not do is spend all your salary on obligations and responsibilities. Save a part of your income every month and resist the temptation to touch the cash you have set aside. This money is your capital base and it will grow if you continue saving the cash. You can start by saving just 10% of your salary every month. After a while, you can increase the percentage to 15%-20%.
Start a Part Time Business
Running a successful business requires expertise and experience. If you have been earning a salary all your life, you cannot get the experience you need to run your business from your work station as an employee. The smart move is to set up a part time business even while you are still working. You can go into a partnership with a trusted friend and see how things go. This will give you invaluable experience when you start running your own business.
Start Small
Some would-be business owners think starting a business requires tons of capital and equipment. This is not always true because you can start small and think big. If you want to wait until you get all the capital and equipment you need for your business, you might never make the move. The smart move here is to start small. Set up your business with the resources you have now and try to grow your business every time you have the opportunity. Just take that bold step and get started and everything else will fall into place eventually.
Final Word
As you can see, making the journey from salary earner to become your own boss is quite challenging. However, this should not discourage you at all. Take the right steps and you will make this journey successfully.
