7 Traps to Avoid When You Leave Your Job to Start a Business

Sometimes being an employee for more than 5 years can be really frustrating. There are some who would resign from their current employee and look for another which promises to give every demand they have.

However, there are some who are brave enough to let go of having a stable and monthly income, and gamble in establishing their very own business.

This can be a very perfect chance for people who have the guts and the money to create new opportunities rather than looking for one but they can never have control over. But this might be very tricky. Even though it looks so enticing, this might be a very dangerous trap to those who can be considered as newbies.

If you are one of those who are wishing to create a business and stop being an employee, here are some precautions you need to know before doing your first step:

1. Never ever be a one-man team. People have the tendency to be mister-know-it-all especially when they have the financial capabilities. But this is a big no-no. You need all the help you can get for what you think you know might not be sufficient enough for your business to survive. Of course you must have knowledge in accounting, management and of course, clerical and all the dirty jobs in the company.

2. Not treating the business as a real job. Passion and dedication are always the key. If you see your business as just one of your hobbies and not taking it seriously, well, better leave that dream right now and start looking for a new employer.

3. Afraid of learning. What you know today might not be true tomorrow. It is important to always keep your knowledge updated and stay in the know and don’t be afraid to learn new ideas.

4. Having no goals. When you were just an employee, there is always this pain for us called KPIs. These are metrics which employees have to reach to contribute to the whole company’s success. Goal setting is one important part in putting up your own business as this will serve as your guiding light for your success.

5. Lack of plans. Planning comes second to goal setting. If goal setting is the great big star you want to reach, planning lets you know how to get that star.

6. Hates selling. Doesn’t matter what type of business you are in, you will never ever escape the art of selling. It may be literally or not, selling is really everywhere. If you are in the business which requires selling products and services, well you are really obliged to walk the extra mile. If your business is more on interaction, well you really have to sell not just your products but your vision, mission, and your brand as well. Whichever way you look at it, you can never escape selling.

7. No accountability. Your business, your money, your people. You are responsible for everything. It is your future we are talking about here.

 

Next read… Kick-Starting Your Own SEO Campaign

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Article contributed by Startup Jobs Asia‘s Team.

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