When it comes to wanting financial freedom, it seems like running your own business is the best option. After all, you get to be your own boss. But then comes the greatest question of all… what business should I start?
When it comes to running your own business, you need to be aware that it will eat into your personal life. As much as you try to keep the two separate, it is almost impossible, especially in the early phases. Therefore requirement number one: it must be something you are passionate about.
You will pour your heart into your business, so make sure it’s something you’re interested in, not just something you think will make you a lot of money. Naturally, money is a big incentive, but it can lead you down a miserable path pursuing something you don’t care about it and then, in the end, your business has failed for whatever reason.
The second thing is to consider your lifestyle. Different businesses operate in different ways even if they are in the same industry. Say you want to work with dogs. If you want an active lifestyle during working hours, you could consider a dog walking service. If you prefer working evenings, you may consider dog sitting or dog grooming.
Finally, you need to be aware of your available resources, including your qualifications. You may want to start up a business in counselling, or physiotherapy but to work in those industries, you need qualifications to comply with the law. You can always get them, but that will take time and money. It’s not something you can start straight away.
Starting a business also requires a cash injection so it depends on what you can afford to put into it. If you don’t want to put in a lot of money then an online business is more viable, since it requires very little investment and can be run from anywhere. If you want a physical location, then it’s vital you have the resources to put into that vision.
There are a lot of things that you need to consider when starting your own business, but these three points should get you pretty far. Assuming that you clicked on this post to get some inspiration for a business idea, below are some suggestions that are doable for one person (at least to start with).
Bespoke pieces for home decor
Online video classes
Beauty (nails, hair styling, make-up)
There are still plenty of start-up options if none of those sound appealing. You can try buying and selling items which is a popular option for many wanting to venture into their own business. Find a product you are interested in, buy in bulk and then resell for a higher price. There are endless opportunities for you, just make sure it’s something you’re interested in.
If you are starting your own business or already have one established, then please head over to: https://www.zortex.co.uk/business-network where you can advertise your business and interact with others.