Making the Sea Change
I’m so often asked how I made the transition from working in the Corporate World to a successful home based business I thought it helpful to share lessons learnt and possible paths. So each month there will be a topic on how it is possible to make this change yourself. There’s also an area on Creativelybelle.com for sharing resources and info and its updated regularly so keep an eye on it for new additions, so visit today: http://www.creativelybelle.com/business/intro.htm
So where do you start with creating your own business? The first place isn’t what most people would expect – it isn’t having that blindingly brilliant idea of a product or service – it is doing your homework and self education! I know this sounds a little back to front but it isn’t really. You need business and marketing skills that unfortunately aren’t taught very often in school or at university.
There’s a sad static that is often bantered round that 85% of small businesses fail in the first 5 years of operation. And much of this failure is down to lack of planning, research and knowledge. There’s also a wonderful static that is often neglected – 85% of small businesses that are started by women succeed in the first 5 years of operation! This static has been around for decades and research seems to indicate that women are more successful because they do pay attention to planning, research, building knowledge, asking for advice, helping each other, skilled at juggling many tasks simultaneously and looking ahead.
From my experience I’ve found the education and planning in the early stages to be the most important. I started my researching, self education and planning for a business years before I stumbled upon Creatively Belle. The first areas to research should include: * Business planning and strategising * Marketing planning and strategising * Financial management – knowing how to do the books, cashflow planning and analysis, profit and loss analysis.