Do You Want To Transit From Job To Business? Here’s how:

“What would you like to do” – “A business or A job?” Obviously 9 out of 10 times the answer will be – “A business” Whether you’re doing job or unemployed.

But I’ll suggest that before leaping into any business first try to work for the relevant industry to gain some knowledge and experience so that it’ll help you manage your business more successfully.

There are certainly some pros of having a job before like you can have insight into the industry, can get knowledge about how the market is running, how to get things done from employees and so forth. The more you explore, the more you get to know that industry.

Below are a few things you should consider before starting a business:

1. Find your niche

Once you decide to start a business, ask yourself, “what interests you?” If it is something that interests you then it’d be great to run the business more smoothly. To find a niche, you could do some research on that.

As I’ve mentioned before, if you have somewhat experience in your industry then it’d be great, so try to find accordingly.

Let’s say you’re in, “Marketing and Sales” for XYZ company then you should find business based on your previous experience.

Nowadays, finding information is not that hard, search the idea on the web and give a shape to it according to your experience and interests.

2. You don’t quit a job until you’re ready to launch business fully

Though it’s important to have some experience on relevant business, it is also vital to have a job alongside, the reasons are many; one of the most important is, “What will you do if you ran out of money, amidst?”, “How will you manage your finances?” Hence, part-time allows you to play around with market and experiment, which you want to do while starting an industry.

Starting a business while having a part-time will test your mindset, you’d survive the industry to get things done or not. People with entrepreneurship mindsets can survive this industry easily, some get it in-built while some needs to build it.

3. Ready to fail

You’re not going to eat fruits and nuts from the very first day of your business, so be prepared for failure for around 2 years, as you have to pass through many ups and downs, which sometimes makes you desperate to leave a business. This is the hidden rule of entrepreneurship when people talk about their success they don’t tell you how they went through during the past.

Launching a business means there’ll be days, weeks or years of frustration and having no income and having no friends and family, yet you’ve to be committed towards it because you want to be successful in it.

4. Get feedback before start

This is one important factor, get a review from different people, which extremely helps you to save quality time and money, which you can use somewhere else.

Try to get answers for questions like; “How is your idea different from other businesses”, “How is the market for the niche?”, Try to find out competitors and so on.

Try using different social media and figure out all queries by asking people, this will help you to get an overall idea of your business plan and you’ll get to know the potential of your business.

Never be afraid of taking people’s opinions and suggestions, even if they’re not in that business and have an opinion, you’d be surprised by having various opinions from different people.

Learn to communicate, many of us don’t give much attention to this, which helps you to be more effective and productive.

5. Do market research and understand the target audience

It is better to know about the market for your industry; know your market’s ins and outs. Start analyzing your strengths and weaknesses.

There are plenty of ways through which you can reach to your customers, there are some who wants to reach through Facebook, some through Instagram or Google advertisement and so on. Understanding of clients is a key part of all business plans, without which you can’t sell your service or products.

At the starting phase, you’ll want to try different advertising platforms so that you can find from where you are getting your potential customers. There are different research tools available on Google, by using it you can target the customers.

6. Find a partner

It is not that easy to handle business solely while having a job on the other side, so it is better to find the right partner with perfect skill sets which would help you to launch a business. You need people that have the right skills to handle different departments. This so-called co-founder could bring enormous value to your business, you ever imagine if you choose the right person.

7. Be dedicated

It is important to know how badly you want this, there will be a time where you get into trouble, which will make you stressed because you are not able to accelerate the gas-pedal of your business. If starting a business while working then you are not the only one who wants to do this. Growing a side business will be an extremely challenging experience, you need to be motivated and dedicated towards the business.