Micheal Newman’s latest ‘e-Wealth Daily’ article is titled “What You Must Know Before Becoming Your Own Boss”. [‘e-Wealth Daily’ Article]


Micheal Newman’s latest ‘e-Wealth Daily’ article:

What You Must Know Before Becoming Your Own Boss

Being one’s own boss is something countless employees across the country dream of. You may be one of them. And I’m not going to lie: being your own boss is pretty great. I’ve been an
entrepreneur for the better part of my life and I really enjoy it. However, it does take a lot of work and sacrifice to experience success as an entrepreneur. For those of you seriously considering taking the plunge, here are a few things you should think about.

First off, if you’re going to be leaving a steady job behind, think of the financial implications. As a new business, it’s unlikely that you’ll post a profit for at least the first few months that you’re in operation. Because of this, you’ll want to make sure you’ve banked up a substantial amount of cash, which will let you support yourself through this time. If this means staying at your existing job a little bit longer than you’d anticipated, then that’s what you’ve got to do. It will prove to be the right decision, trust me.

Another option you have is to start your new business as a side project. This way, you can keep your steady job and enjoy the income it produces while you start to build your company in
your spare time. Once your business is doing well and you’ve got enough work and income to make it a full-time gig, drop your other job to focus on your new career. Remember, before you quit, you want to be relatively sure you can afford to do so.

As a business owner, it’s important to keep in mind that you yourself are the business. This means that if people don’t know about it, you have to get out and tell them. If business is slow,
it’s on you to get out there and attract more work. You’re 100% responsible and accountable for everything that happens to your company.

In the early going, you’re going to want to do some serious networking. Talk to former contacts and other people in the industry and let them know that you’re in business. The best way to grow is to network, so you’re going to need to spend a lot of time doing it.

Finally, once things get rolling, you’ll have to ensure that you’re totally organized. You’ll have to know where things are, where they are going and what you need to do. You’ll have to schedule work time, sales time, marketing time, administration time and all the other aspects that are involved with a business. Furthermore, you’ll have to schedule in some time that allows you to get away from the business for a while and recharge — I believe this is called “life.”

If you plan on starting a business, there is definitely a fair bit of work involved. However, if you put the required work in, you’ll give yourself a much better chance of experiencing success — and, when that happens, there’s no better feeling in the world!

e-Wealth Daily

About e-Wealth Daily

The e-Wealth Daily Bulletin brings you daily tips, advice and breaking news related to home businesses, small businesses and internet marketing. Our team of experts gives you the information you need to take your business pursuits to the most profitable level. Founded by Adrian Newman in 2003, the e-Wealth Daily Bulletin and www.ewealthdaily.com are a division of Lombardi Publishing with online newsletters reaching over 100,000 subscribers each month.

* IMNewsWatch would like to thank e-Wealth Daily for granting permission to reprint this article.

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