Jumping into Eton Mess: Are you ready for crunch, freedom and challenges?
After another tedious day as an employee, tired, bored, longing for a work/life balance. I needed one of my favourite treats, Eton Mess. A bite of crunchy meringue followed by the deliciousness of cream and the tangy flavor of British strawberries.
How does this relate to starting your own business? Being your own boss, is like the first taste of a crunchy meringue. That first taste is wonderful quickly followed by the reality of wading through layers of complexity like the cream in Eton mess we wander having no idea what we are doing, we progress our business, test our offering, the fun of closing our first deal and we relax into the bath of zingy fresh strawberries and then the paperwork. Being your own boss means many things. Are you ready?
How was Eton Mess created? Accident or design?
I took that jump into Eton Mess, started by own business, ‘Cooking up Success’ Where we take your raw ingredients and together cook up a recipe for your success!
Tips I learnt and continue to learn as being my own boss evoles:
- Companies provide a safe environment, give holidays, sick time, flexible benefits, social environment build sales, plans, guide and encourage.
- We get paid, that cheque hits our bank accounts monthly and allows us to pay our bills, plan and save.
- My drive to create my own destiny, give something back and pursue my dream finally won over my fear and after my fourth redundancy it was time to take that first bite of Eton mess
- Decide what you want? Create a product, become a contractor, freelancer, work 2-3 days a week for a company who needs help but cannot afford you fulltime.
- Do your research, take courses, write a business plan, talk to friends, colleagues, family and test your idea with your network.
- What is your USP, (unique selling proposition) Why should they buy from you?
- Who is your target audience? What about your decision maker?
- Save 6 month salary (enough to pay your bills).
- Create a budget of your fixed costs. Remember there may not be a paycheque for ages? Can you cope with uncertainty?
- Are you comfortable with selling and marketing your business?
- To be successful create a sales funnel. If this makes you uncomfortable then work with someone or if you have budget there are companies you can hire to create that funnel. The only person getting business is you?
- As a contractor know your marketable skills, create a killer CV by bringing your achievements alive.
- Getting paid on time can be tough so setting up a good invoice and tracking system is essential.
- HMRC has information available and a great accountant can help. Shop around and find an accountant you trust and can work with and who will tell you the real picture even when the going gets tough.
Employee to Independent. Is it easy, worthwhile?
It depends on the person, you control your day, hours, and work life balance. Starting a business takes time and you may find that balance elusive in the early days.
Setting goals and a plan will make all the difference. Working on your own can be good or bad depending on the person. Part of my work puts me in an office environment a few days a week so I get to have that interaction which for me is essential.