Four Quick Tips to Help You Leave the 9-to-5 and Be Your Own Boss
For two years I was employed full-time and operated my business (This Way Up Global Ltd) part-time. In late 2017 I finally made the jump to working on my business full-time. So, I would like to share some brief points with you (particularly if you have a dream to be your own boss) in areas that have had a positive impact in getting me to this point:
Mentor(s) – if you don’t have one get one (or more) now…
Credit Control – in an industry (freight/logistics) where average days to be paid is 30+ This Way Up has managed to keep it to 14 days. If you’re a small business or starting out don’t feel like you’re obliged to give customers 30 days credit. Try explaining to them that you’re just starting out (most of them have been in the same position themselves!) and that you’re trying to keep an extremely tight control on cash flow so that you prefer to give 3, 7, 10 etc days credit – most will understand. Or, you could try asking them to pay upfront on the first 2 or 3 jobs and then give them credit terms. Remember, you don’t have to be someone else’s bank. You can have all the sales in the world but without cash your business won’t last.
Government / Local Government Business Support – there’s a lot out there. Get on Google and find it in your area. It’s usually free and a lot is angled at startups. So when you don’t know where to start with a business plan, budget, marketing, sales etc you’ll find plenty of free help in places like these.
You – be yourself. You may have heard this one before but I’d like to say it again…be yourself.
As a bonus if you want more tips like this here is a place that was/is of enormous help to me for business guidance/ideas – www.foundr.com