The answer is simple; right now!
As I explained in my earlier topic, Can you handle being a Business Owner, starting and running a business is tough. Not can be tough, it is tough!
When the time comes to make a decision on when you start, I guarantee you will be able to list at least 10 reasons why now is not the best time to start.
I tell you what, I’ll list those for you right now:
They will go from serious concerns to damn right ridiculous, but there will always be reasons stopping you from starting your business.
I’ve always been a fan of whole-ass one thing rather than half-ass a few. If you’re starting a business, you need to be all in. DO NOT start your business when you still have a job. Leave that job. I know this means you may not have ‘security’, but being a business owner isn’t about security. It’s about living your life like most people won’t, so you can go on to live your life like most people can’t.
The security will come. The tough times will turn to good times.
I like to talk to our clients about the 3 stages of a small business.
The first stage is when you need to look after the business. It’s a newborn which requires most of your time and energy.
The second is when the business will take care of itself. You’ll be able to take a wage, have some security back in your life, and maybe work normal people hours again.
The last is when the business takes care of you. Aside from top level decisions, you’ll hopefully be almost redundant, and the business works and pays you handsomely without time or effort. This is your reward for the little bastard baby who just wouldn’t go to sleep!
I started my business when I was 21; I swiftly left my job, had no income, no savings, no house, no car, no kids, nothing (although I did have a Playstation 3). I still lived with my Dad, who lent me £5k which I used to get a small office, desk, computer, software etc and off I went. I realise, this was an almost ideal time for me. It didn’t matter if I totally flopped, because I had no kids to feed, or mortgage to pay. Most others will not be in as fortunate position as I was.
However, I still had at least 20 reasons why I should not do it, and had many friends & family adding to those reasons.
The point is, there will never be an ideal time, so you may as well do it now – before someone steals your idea and does it themselves.
Start your business!
Don’t forget, look out for our next blog in the series: Who will you sell to and how?
If you missed our previous blog in the series, Creating your Vision, take a look here.
Diverso Accountants is rated 5/5 based on 45 Google Reviews 1 Pirelli Way Eastleigh SO50 5GE GB
Leave a Reply