How Starting your own Company can get you Ahead in your Career
Starting your own company and succeeding at it requires a tremendous amount of self-discipline, motivation, commitment, entrepreneurial spirit, and a good idea of what it takes to create a business and make it work. One of the primary advantages of starting your own company is that it provides an excellent opportunity to get ahead in your career, whether you decide to stay with your own company or seek employment with another company in the future.
1) Starting your own company offers an excellent opportunity to keep your day job while supplementing your income. It also gives you the chance to test the market and see if your product will sell while not risking everything and ending up in serious financial trouble.
2) Starting your own company also offers the opportunity to learn an industry from the ground up, to learn every aspect of running a business from the initial idea through the planning stage, to developing a solid customer base and turning a profit.
3) Starting a company requires many basic business skills including marketing, finance, accounting, leadership, organizational and management skills. These same skills and qualifications are also highly sought by other companies that may be hiring. By creating and successfully maintaining your own company, you are a proven commodity and are very attractive to employers looking for someone with your talents.
4) If you are presently unemployed and not unable to find a job, starting your own company can work to your advantage. If your company proves successful, you are earning money while enhancing your skills. In addition, employers like to hire people who are presently working, whether self-employed or working for someone else. The longer a person remains unemployed, the harder it can be to get job interviews and job offers.
5) Starting your own company immerses you in the business world. You are able to stay informed about what is going on in your industry. You can keep current with evolving business trends, emerging market demands, future job opportunities and also expand your network connections, all which can significantly increase your potential for career advancement both now and in the future.
If you are contemplating starting your own company, always start with a well-thought-out,feasible business plan, which usually involves making some carefully considered strategic, financial and legal decisions before you get started. Whether starting an online, in-the-home, or out-of-the-home business, always weigh therisksbefore investing any capital or signing any documents. Do your homework and thoroughly educate yourself on all the risks involved in starting a business so you don’t get in over your head.
Avoid entering a market that is already glutted with similar products and heavy competition. Don’t choose a field that is declining and soon to become obsolete. Research the industry and the market. Ask yourself – Is there a need for your product? What is your “unique selling proposition?” Does your product have a short shelf life or will it continue to be in demand in the foreseeable future?
When planned and executed correctly, starting your own company can significantly help you to get ahead in your career, whether you continue with your own company or decide to seek employment elsewhere. Starting your own company provides an exceptional opportunity to enter a career field that you enjoy, to be your own boss if you so desire, and to develop a wide range of essential business skills that are highly in demand in today’s job market and will remain in demand in the future.
