Do you dread your 9-to-5? You’re sick of corporate crap, never-ending ambitions, and professional bureaucracy. WANT TO MANAGE YOUR OWN DESTINY AND MAKE
Yes, any of those questions indicates you’re ready to be your boss. You’ve come to the correct location.
Real entrepreneurship education for the public is Foundr’s objective. We’re here to help you get off the beaten track and succeed as a boss.
It’s a grind, we admit. But it’s worth it.
You can be a boss, but we want you to be informed. It’s not all about money, automobiles, and champagne. It has its ups and downs. It’s a trek.
This post will show you how to be your own boss. We’ll go through the realities, benefits, and must-have attributes before showing you how to become your own boss.
Let’s get started a journey of being a boss.
How to Be Your Own Boss
Achieving self-sufficiency means you carry the planet’s weight, but you also have the freedom to soar anywhere you want.
Bosses get to make all the decisions, but they also bear all the blame. If you mess up at work, you’ll likely receive several more chances before any significant consequences. If you mess up as the only boss, you may not be paid that month.
When you’re the boss, you get the total return on your investment. Your business (read: your baby) becomes stronger if you devote more time and attention to it.
You generally receive a pat on the back and a little bonus at the end of the year at your full-time job if you perform well. Ultimately, you’re crafting someone else’s fantasy for 40 hours a week.
“If you don’t construct your dream, someone else will.” — Tony Gaskins, Author & Life Coach.
It’s common to see entrepreneurs and company owners consistently touring the world, flying first class, and sipping cocktails by the pool. Sure, that’s lucky.001 percent’s existence, but not the average entrepreneur’s.
You’ll need to tap a few shoulders and beg for a favor. You’ll have busy days and days when you’re stuck. It’s all part of entrepreneurship.
To summarize, being your own boss is fantastic—but not without its drawbacks.
Pros and Cons of Being Your Own Boss
If you prefer lists, the pros and cons are for you. What to expect:
Unlimited Earnings: You don’t have to work for peanuts. To earn more, Work harder to succeed in business. Seeing as you are the boss, you can make anything you want.
- Total Command: You make all decisions. You decide when and where. PICK YOUR INDUSTRY, PRODUCTS AND Decide when you’ll leave early and which days.
- Your Passion: Dream on. Create the business you want and make a difference where you choose. Want to lose money to make your company more eco-friendly? Sure, go. Want to work 20 hours a week and also volunteer? You make the choices.
- On You: You directly affect your business. You are the reason it succeeds. It’s all because of you when you help a customer.Cons:
- Inconsistent Income: Money may be scarce for months (especially initially). It may take time to test a concept, or an emergency may arise, affecting your pay.
- Always a New Boss: You always report to someone. In addition to daily and significant business choices, your consumers and clients have a lot of say. If you’re a freelancer, you’ve exchanged one boss for several. Your boss as an eCommerce shop owner is you.
- Long Days: Being your own boss takes a lot of effort. You’ll have a lot of responsibilities unless you start hiring early. Many hats will be required of you.
On You: Your business suffers when you goof up. Customers suffer when your company suffers on you. It’s a lot of duty, and it may be daunting at times.
Becoming Your Own Boss Traits
It’s nice to think everybody can be their own boss, but that’s not true. People aren’t meant for this profession, and that’s fine.
Just as there are people who love numbers (thank you, accountants) and others who love coding (thank you, developers), there are those who can be bosses.
Some essential attributes for becoming your own boss:
Expect to commit time and money before seeing results. You’ll be tempted to resign and return to the boring 9-to-5.
Be patient, and hold on. It’s always tricky at first, but it becomes easier as you learn the ropes and get momentum.
You rule. Neither your boss nor your boss’s boss is going to instruct you to get to work. You’ll need to be self-disciplined to notice (and seek for) these things and act when necessary.
You’ll also need self-control to stop. Doing more than you can handle can harm your business, clients, and yourself. To avoid burnout, learn to slow down and rest. So it’ll not be easy to relax, but you’ll need to do it to succeed in the long term.
You’ll need a goal. Being a boss is a reward for being in control. Find what drives and energizes you. Turn your passion into results.
You’ll occasionally lose your drive. Accept it as part of the journey. Recognize when you’re losing steam and discover strategies to regain it. It may be taking a long weekend off or getting an email from a satisfied customer.
Find a drive that will keep you going when things get rough.
You must be ruthless in prioritizing. You can do a million things as a boss, but only a few should. Stay attentive and avoid shiny object syndrome.
It’s easier said than done, but it’s easy to get lost in the next idea or attempt to save time. Prioritize your tasks, plan, and remain on track.
This isn’t a must-have attribute for a successful CEO; many unpleasant people know how to manage a corporation smoothly.
But don’t forget to be the boss you always wanted. Remember to hire people with love and respect. Remember why you left your 9-to-5 job and seek to improve the working conditions for your employees.
6 Steps for How to Become Your Own Boss
Now that you know what becoming your own boss entails, take action. Here’s how to quit your 9-to-5 job and become the boss of beneficial interest.
1. Determine Your Goals
No time for all the ideas. Finding an internet business concept or side hustle isn’t the issue—choosing one.
Consider your abilities or your goals. Do you wish to start an eCommerce store or offer your services as a freelancer or consultant?
No right response. Sure, some firms make more money than others, and some are riskier. But you’re the boss—you get to decide what makes you happy.
Don’t sweat finding the right company concept. You might work for a variety of companies. Find your happy place now. You can always change your mind.
2. Test Your Business Idea
Once you have a company idea, it’s time to test it. Validate your concept before investing time and money into it.
People will say, “that sounds awesome!” even if your company strategy is terrible when you give it to them. Seriously. Please do it. Pitch a bad idea to your buddies and see what they think.
There are other ways to verify a company idea, but we like the traditional landing page test. How to:
Create a landing page for your business.
- Include a “Buy Now” button.
- Increase website traffic with a bit of advertising budget
- Test the “Buy Now” button.
- Set a goal for your desired click-through rate.
This test removes friend, family, and stranger prejudice. You want to know if buyers would open their wallets and buy your product, not if you have a brilliant concept.
3. Build a Business Plan
Being your own boss includes planning. You’ll need a strategy for getting your company from A to B.
While it may sound exciting to wing it, it is a sure way to wind up shattered and damaged. Put pen to paper (or Google Doc) and start answering the tough questions:
- What do you do?
- Who will you serve?
- What do you offer?
- What issues do you address?
- How will you profit?
- Who are your rivals?
- What sets you apart from the competition?
- How will you finance your startup costs?
- How will you deliver your goods to customers?
So much to consider. See our guide on writing a business strategy. It will guide you step-by-step through everything you need to outline and respond to succeed.
4. Take the Leap
You’re set to go when you have a solid business strategy. Don’t worry. You don’t have to quit your job yet. You may start a side business (slowly) to test your idea.
Start your company and make your first sale.
You could decide to go all-in on your business and be a boss once things start picking off. Or you may skip the proving process and go right in.
You rule. You select how to advance your new career.
5. Grow Your Business
The best approach to expand your business is to experiment. You may desire to grow your business or consumer base. You may wish to expand your offerings or raise your rates.
Avoid complacency, especially early on. Your business is either growing or shrinking. Take the proper actions to keep it moving.
Here are some ideas to develop your business:
- Hire staff to speed up work or aid consumers.
- Obtain more funding for new equipment or aggressive marketing activities.
- Add new items and services to serve customers
- Raise your prices to make more sales
- Become more efficient to save money and increase ROI.
As the boss, you get to select where your company goes. Once you have a steady stream of clients and cash, you may devote more time to family or a pastime. It will affect your business, but you decide.
6. Repeat (Optional)
After building a successful firm from scratch, you may want to start anew. You may wish to create a complementary firm or venture into a new market.
You are the boss. You decide.
Managing numerous enterprises isn’t simple, but the adventure outweighs the challenges for some. A company can be built and sold before beginning a new one. Or you can stay in business for a decade or two.
There is no proper method.