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I'd love to be my own boss!

Question :

The co that I work for is increasingly outsourcing the IT work. And I see so many startups forming in IT that I really want to take the dive to start up my own biz. Maybe designing apps and taking it from there. I suppose I could also supplement my income by freelancing on IT projects too. Is it too risky? There won't be much support and to be honest I don't know where to begin to start a business but I do like the idea of being my own boss.

Posted by Curious on Friday, 14 Mar 2014

Comments :

Dear Curious I am glad to learn that you are thinking to be your own boss. When I venture out to start my own business, it was both exciting and stressful at the same time. It is important for you to understand why you want to start your own business. Doing what you love? Getting rich? Helping others? The reason must be compelling for you as it is a life changing decision. I would like to offer you the following learning: Establish yourself as an expert in your field. Potential clients will look for you if they think that you are good. You may want to start to get yourself known in the targeted industries, write for industry blogs, attend and speak at conferences and showcase your work on social media platforms. Build a marketing and financial plan. In order to reduce your stress level in running your own business, it is important to understand the financials; what would be your startup costs? Your monthly running cost? List down at least 20 companies as targets and if you can bring 10 of them as prospects, then you are doing well. You would also need to build a web site that stands out, take a look at your competitors’ web sites and see how you can do better, identify key words that describe you and your work and work on the search engine optimization. Work on your 100 day plan. There is always an element of risk. Yet, it will also bring opportunities. It will be hard work and it would take discipline to become successful. A mindset to profitability should be at your top agenda. Don’t be afraid to ask for help. You might want to engage interns from universities and get a good mentor who is willing to give you sound advice. You plan your work and work your plan. If you have a supporting partner, it will make the venture more rewarding. Nobody said that it would be easy. But it is worth it. After all, life is about having fun and making a difference. I saw a quote recently. It said “every morning, you have two choices – continue to sleep with dreams or wake up and chase your dreams. The choice is yours.” Best of luck.

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