A new business – Too bad I didn't know before…

The sky is blue, the sun is shining, and the birds are singing.  The hot coffee and the morning sky feel like a personal victory.  I am self-employed!

 

There's no boss to tell me what to do.  No alarm clock with an exact time to wake up.  And there are many other advantages that come along with the word self-employed.

 

Financial independence brings with it a responsibility that is with us at all times when we are self-employed.  It makes us set the alarm clock and feel obligated to goals we've set and to the vision for which we aspire.

 

Research before or at the start of self-employment is no less important than at any other stage along the way. Many seemingly obvious things pop up when opening a business, such as: Creating a file at VAT and the Income Tax Authorities, printing business cards, opening bank accounts and so on.  But before all of that, it's important to consult with different professionals about each of these subjects for guidance and direction about the correct order of operation for our business.  There's no one single, clear path – each business has different "should" and "must".  So, with proper direction, you can save precious time and money – which are important at the start of every business.  Even if the initial capital exists, it's still important to channel and maximize it for the benefit of the long-term business.

 

Accumulating knowledge during the initial stage is very important.  This will help build the process in a manner that is correct and focused for your business.  It's best to create a flow chart or prepare a table with the path ahead, including dates on one side to direct you and measure if you're keeping to your own time allocations.

 

Dates should use the following measurement – realistic, but not exaggerated.  Too much pressure is likely to do the opposite of what we've intended.  However, they also shouldn't be too easy with too much space, which could cause you to divert from a path of ongoing work.

Do self-examination during the first month – even after each work week – to ask the following questions:

 

  1. Are you keeping the targets / time schedule set – are they realistic or too easy?

  2. What are you lacking in the work process? Is something stopping you?

  3. What knowledge is necessary for the next stage?

  4. Are your priorities in the correct order?

  5. Has there been progress over the past week? What is the progress?

 

If we haven't been able to clearly answer the above questions, consult with a professional about your future course.

Table:

The initial acts of establishing a business, regardless of what kind, should happen during the planning stages.  Do not wait to finish commitments at your last place of work.

The more preparation and accumulated knowledge you have, the faster you'll be on your way, beginning to generate an income.

 

Two huge resources that aren't usually considered during initial planning are bureaucracy and the need to internalize a new situation. Likewise, time for mistakes – and there is no business without them, is definitely an important part of every equation.  And, even though it's a cliché, I am happy to use this one – we learn from our mistakes.

Good luck!

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