What is needed?
Total dedication
Time
Help and support of your family and friends
What are the benefits?
You are your own boss and you have control over your own decisions
You will gain a broad understanding of business which will stand to you forever
Flexibility
What are the cons?
You need to be working to be earning
Getting time off can be difficult
You will have total responsibility for success or failure
Mairead Griffin, Career Coach, Career Mentors, http://www.careermentors.ie
Why do new businesses fail?
Lack of planning
Cash flow problems
Lack of Skills
Lack of product or service demand
Not enough tenacity
Are you suited to life as an entrepreneur?
Do you have….
Drive
Personality
Networks
Personal Circumstances
Time
Commitment
Finances
Questions to ask yourself
Do others have the same product or service?
Is my product an improvement on what’s there?
What evidence is there that customers will buy my product?
Mairead Griffin, Career Coach & Outplacement Specialist – http://www.careermentors.ie
Read More………………
What is the nature of my business?
What is my target market – location, size, trends
Who are your customers – what and when do they buy
What price will they buy at?
Who are your competitors? How will you be different ( better quality, lower price?)
Is there a gap in the service / products they provide
What is their pricing strategy?
What is the volume and value of your sales
How much will it cost to develop your product / service
How much will it cost you to make and deliver
How much money do I need to get up and running?
What will this money be spent on and where are you going to get it
If you feel you have what it takes and are motivated for the right reasons,Id strongly suggest completing a “start your own business” course. The courses run by the Enterprise Boards are generally over a 6-10 week period one evening a week. They are heavily subsidised and the quality of the trainers is excellent.
Check out http://www.dlceb.ie for more information
Hope this helps anyone considering going out on their own or even undertaking some ad consulting work whilst searching for a permanent role
Thanks
Mairead
Career Coach & Outplacement Specialist
http://www.careermentors.ie
0876312900