Who hasn’t dreamed of turning their passion project into a profitable business? Check out the answers to these important points to help turn your dream into reality
1 Why do you want to start your own business?
Before splashing out on embossed business cards and fancy office furniture, it’s worth doing a little soul-searching. Sleepless nights and nailbiting panic are all features of the first few months as an entrepreneur, and could stretch finances and push relationships to the limit. The good news? An unbridled passion for your product or service will override all this. Focusing on your interests is a good start: businesses such as Harley-Davidson, among many others, were born after the founders decided to monetise their passions.
2 Are you ready to become a business owner?
Don’t tell your boss where to stick it just yet. Take around six months to develop your product or service, build your website and line up initial clients. Learn as much about your market as possible: can you freelance or volunteer somewhere to find out more? Start saving too, to give yourself a safety net while you get your business off the ground. If your living room is submerged in postal sacks and cardboard boxes by the end of this six-month period, it’s a sign your burgeoning business is going well.