Fashion Mode

If you can't find a job or tired of waiting for new opportunities to come along, perhaps it's time to run a business and be your own boss. Since the world has changed radically, financial security has become more difficult to come by. This is perhaps the reason that almost 600,000 new businesses are established every year. More and more people are now aiming for the big pot of gold by engaging themselves in different kinds of investments. Here are some of the many reasons why you should start making a business plan now.

1. Earn unlimited experience - When you work at a company as an employee, you tend to specialize on just one thing. But if you're running your own business, you need to learn everything it takes to run a business. You will be your own marketer, lead salesman, accountant and a whole lot more. If you own a business, you will probably learn in one year what you've learned working as an employee for almost 5 years.

2. Earn more- When you have a business, you will have greater opportunities to earn more. Although, a regular job means steadier income, a business allows you to triple your salary and even more. If you really work hard to make your business grow, you can earn a month's worth of an employee's salary in just one day.

3. Limitless possibilities- In running a business, you can only be limited by your desire to grow. If you wish to belong to the rich and famous, then all you need is to put your business into that direction. If you want to keep it small to be able to manage your other priorities, you can. You just have to design your business according to your purpose and needs.

As an employee, you don't have that kind of advantage. If you want to make it big in your career, you have to hope that your boss likes you that much to earn a promotion. Otherwise, you're bound to remain economically stagnant and never move forward. In addition, if you want to spend more time on other matters other than work, don't expect your job to last long.

4. You manage your own time- If you insist to follow your own work schedule instead of what your boss tells you, you might as well start packing and find a new job. Owning your time is perhaps one of the best advantages of running your own business especially if you have kids. However, depending on the size and demands of your business, you might be on-call 24 hours per day if you're the owner.

5. Gain full control over your destiny- Nothing can give you much freedom in how you live your life than owning a business. You have no boss to order you around or impress just to be given a salary increase. You have no job schedule to follow, no strict rules to comply with. You're the boss now and you can do exactly what you want according to what you think is best for your business.

Now that you know why it is better to own a business than apply for a new job, here are some tips to help you get started.

• Seek the motivation to start your own business. Motivation is the key to success especially if you have a number of mouths to feed. Make sure that it is clear to you why you want to run a business instead of having a regular job. This way, you will have no second thoughts or doubt that you are making the right decision.


• Determine the type of business you want to put up. It may be difficult to come up with a good business idea but looking for another high-paying job could be a lot worse. In deciding what type of business you will have, you should always consider what you like doing as well as the demands in the market. If you have passion for cooking, then perhaps it's about time to run your own restaurant. However, you should also consider the kind of food that will appeal greatly to your target market. You also don't have to be overly unique with your business idea. There's always a danger in that. However, you can try other existing types of successful businesses and put your own twist in it.


• Make a simple and attainable business plan. It isn't necessary to come up with an extremely detailed business plan, complete will all sorts of assumptions of how much money you'll earn in the next couple of years or how many branches you should already. You don't have to worry too much. Yes, it could be a little stressful, but given the right resources, tools and the right people to help you with, you can rest assured that everything will run smoothly. You don't need a degree or extensive training in Business Administration to create a good business plan. All you need is to know who your target market is, how much you'll charge them and what you need to do to make that happen.


• Be specific with your target customers. If you're planning to put up a hair salon, don't say it's for every woman in the planet. You can say it's only for women who understand high- fashion or it's for high-class women only, etc. The more specific you are about your target market, the more precise your marketing efforts will be to get them.


• Keep the costs to a minimum. You need to lower the expenses as much as possible especially if you still haven't brought in enough sales. Do this without damaging the quality of your services. For example, instead of hiring additional staff members to do the accounting, inventory or handling client schedules, you can invest on a management software system that can do multiple tasks in just a few clicks of your finger.