Working in a nine to five job from the moment you leave school or university can end becoming a chore. You start to ask yourself if this is the best life has to offer. The good news is that there are thousands of people out there that have managed to start their own businesses and become their own boss.
Now hard as this may sound, all you have to do is find the right place to start, the right niche that you know will make you happy and then write down how you believe you would run your business in that niche. After a while of doing this, you will naturally start to research other costs that are involved in the business such as licenses, electricity, tools, software, and so on.
The more you do this, the more you can prepare yourself for what could eventually be a business research expedition that turns into reality.
Here is a list of some of the most successful and stable businesses you can look into opening in order to become your own boss.
- Open Your Own Coffee and Fast Food Brand
Now you might be competing with some big name out there, but the high street English breakfast, homemade sandwich, tea and coffee shop/restaurant is still a very popular business idea. It may not make you a fortune, but you can guarantee as long as you get the right location such as next to a busy bus stop or outside a train station, you will make money and have a stable job.
Tip: Study the 4ps of marketing
- Start an Online Business
One of the key advantages to starting an online business is that you do not need a physical location to begin. You can also play with a number of different ideas and work on which ever idea grows your online business the quickest.
Another benefit to this type of business is that you can start it alongside your current job and build it up. This is exactly what I did. I started with my business by writing content such as this article. At the same time, I was a school teacher. Luckily as I had a teacher assistant to mark homework, so all I had to do is make sure my lessons were planned. Aside from that, I had a lot of breaks between classes.
During my breaks I would write articles and get paid for doing this. One thing led to another and I started to write content for social media campaigns, entire websites, and then I started to get into WordPress web design.
Tip: Visit this website’s homepage where I wrote all the content
- Start Your Own Business in The Niche You Already Work In
If you enjoy your job, but you don’t like the nine to five routine and you would rather be your own boss, then why not look for a way to start your own business within your niche. It won’t be easy, but you can at least begin with a website. Make a list of all the expenses you need to pay out such as printing business cards, having enough money in the bank to survive for 6 months, an overdraft facility on your bank account, credit cards, and a low interest bank loan.
Now one thing I do not want to encourage is debt. However, you can at least make sure while you have a job, you can get all these financial instruments set up. Also, get some kind of insurance that will cover you in case you lose your job if that is possible. This way when you start own business, you will be able to hire yourself and if the business does not succeed, then you are covered.
Getting your first customers is better achieved when you are working in your current job. Use holidays to fulfil customer needs, take unpaid leave if you are able to, and work evenings and weekend. I know a friend of mine did exactly this with his IT business. Now that business is worth over $30,000 a month, and he pays himself $5,000 a month, which is $60,000 per year plus bonuses which come with a tax incentive.
He started that business by paying for all the equipment he needed, licenses, website, business tools, and marketing while he had his nine to five job. He then slowly but surely expanded his business, and low and behold the company he used to work for hires his current company on a retainer!
Tip: Check out Investopedia tips
