C-Suite Advisory

How to Be Your Own Boss

BusinessMan

Running a business has changed drastically over the years as entrepreneurs transform into digital natives. Automation and the rise of social media have brought disruption to the current business landscape, so much so that businesses can hardly keep up with what’s currently going on. Indeed, traditional notions have made way for disruptive approaches to building and maintaining a business.

Along with traditional business setups, there are also young entrepreneurs who are attracted to the “be your own boss” lifestyle. It has its perks, such as the opportunity to work from home and operate an enterprise whenever you feel like it. But the amount of freedom you are afforded comes with challenges and risks.

If anything, being your own boss doesn’t exactly entail total freedom from control. After all, you are still subjected to numerous factors that would define your success. You just have to respond appropriately to these factors and adopt the right mindset. Here’s a guide on how you can become your own boss.

  1. Be on the right track: You could be disgruntled by your current 9 to 5 office job, but this shouldn’t be the only reason to establish and lead your own company. It takes more than just personal feelings to make a decision. That said, you should be on the right footing when you decide on building a business. Being too impulsive just won’t cut it, so take time to weigh the advantages and disadvantages. More importantly, you will need to be aware of the elements and processes that come into play in setting up your business.
  1. Look for a niche: Aside from setting your goals and the reason why you want to set up shop in the first place, you also have to determine the specific market you want to break into. Finding your niche allows you to funnel your time and resources to a single focal point. Your message doesn’t work for everyone, so you need to narrow down your product or service a specific audience segment. So, ask yourself “Who should I sell to? What industry should I build my brand around?” Once you have determined your niche, it will be easier for you to come up with a strategy for success!
  1. To rent or not to rent? Being your own boss means you’re not confined to a specific physical location. You could be at home tending to the kids while you manage orders for your custom printmaking business. You could also rent office space where you and a few friends can provide online personal and professional coaching services. Wherever you are, you just have to make sure the environment is an ideal place for you to focus on your business.
  1. Learn to provide value and not just to sell:Some bosses like to sell just for the heck of it. But while earning an income is a legitimate reason for being in business, it shouldn’t get in the way of providing clients with valuable products and services. Being your own boss allows you to get a better feel of what your audience wants, allowing you a better way of improving your processes.

Are you ready to be your own boss? Sure, issues like time management may seem like difficult barriers to success, but with this guide, you can prepare yourself to make a breakthrough!


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Anna Papadopoulos
Anna Papadopoulos is a senior money, wealth, and asset management reporter at CEOWORLD magazine, covering consumer issues, investing and financial communities + author of the CEOWORLD magazine newsletter, writing about money with an enthusiasm unknown to mankind. You can follow CEOWORLD magazine on Twitter, Facebook, Instagram, or connect on LinkedIn for musings on money, wealth, asset management, millionaires, and billionaires. Email her at info@ceoworld.biz.