Whatever the reason you are considering becoming your own boss, there will always be an element of risk that can't be ignored and this unpredictability is more than likely the main reason many people are put off making this leap. But what can't be overlooked are the rewards on offer for the right agency venture and many that take the plunge don't look back...
" We must walk consciously only part way toward our goal, and then leap in the dark to our success. "
Henry David Thoreau
How do you know it's the right time to become your own boss? Read on to see if it could be the right thing for you.
Open ended career progression
Does your current job provide the fulfilment you want and need? Do you question your values and expectations? It could be time to align your work and principles more so and gain a greater sense of satisfaction, and often remuneration.
Working for yourself in an area you are really passionate about, could be the answer to these questions for you and what possibilities are out there for the taking. Being free to decide which clients you want to strive for and which candidates you want to work with.
The freedom to make your own choices, get things done quicker - without having to wait for others to make decisions for you - and set your own agenda day to day, could also be very appealing.
You can't shake the dream
You keep thinking about the same thing, either about being your own boss or a business idea. You may not know exactly where to start with things but these ideas persist. It may well be time to start taking these ideas more seriously and begin formulating a business plan.
A business plan can help focus and clarify ideas, plus you can start to consider the real feasibility of your potential agency. Concentrate clearly on initial goals and objectives, and a strategy to achieve them.
Research is critical and looking into relevant industry bodies and associations, a very good starting point. Looking at competitors in a certain area - what others are doing well and not so well - could help to define where you could make your mark and help your agency stand out.
This could be a real opportunity to put your skills and knowledge into practice and make a difference!
The maths adds up
One of the main reasons people often don't go through with starting their own business is money worries. Fear of both funds needed to initially start up and then enough funds to keep operating successfully.
If you have done positive financial analysis and calculations, plus explored potential funding options if needed, can be a really strong indicator that things are moving in the right direction for you.
Identifying what makes your business stand out is crucial. Knowing how you add value compared to your prospective competitors is necessary to determine an accurate pricing and charging strategy.
If thinking about the challenges or risks associated with setting up your own agency excites you rather than unnerves you, you are more than likely to have the conviction to be an effective business owner.
Consider all avenues before taking the leap and committing to the idea, but the benefits could be well worth it!
Click on the image below to download our Ultimate Guide to starting a temporary recruitment agency...