7 Steps from Employee to Employer
Starting Up Guide
www.biz-man.com
Copyright © 2012 www.biz-man.com All rights reserved.
This book in intended to be for general guidance only and does not constitute business advice in any professional capacity. The greatest care has been taken in compiling this book. However, no responsibility or liability can be accepted by the authors, publishers or compilers for the accuracy of the information presented or for any loss which may arise from reliance on information contained in this book or the associated website material. Readers should always seek professional advice when starting and operating a business.
No part of this publication may be reproduced, stored, or transmitted, in any form, without the prior consent in writing of the copyright owner.
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Any unauthorised reproduction or transmission of any part of this book may result in criminal prosecution and a civil claim for damages.
The Publisher makes no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. Neither the publisher nor author shall be liable for any loss of profit or any commercial damages.
2012-09-27
Dedication
This book is dedicated to aspiring business owners.
Introduction
There are many talented people caught in the employment trap - the ‘rat race’. This book was written to help frustrated employees escape the drudgery of corporate life and start anew, working to their own agenda. If you have ever sat at your desk pondering the blue skies outside of your corporate ‘hutch’ then this book is for you.
Equally, if you have attempted or succeeded some way down the path to independence, are out of work or self-employed then this book could help you too. Many self-employed people get caught in a similar trap and become exhausted before reaping the rewards of their efforts.
Our approach is to help people who wish to start or rethink a business, with minimal risk and grow it organically, into a sustainable or saleable business asset. This book is not for those who want to raise $1M ‘seed capital’ for a company that will have no profit for the foreseeable future - that’s a different strategy but equally valid of course.
This introductory book is about starting up. It brings together many of the articles, real life experience and coaching wisdom from that section of our website. In our unique style, it is pragmatic and reflects our realistic approach to business.
Most businesses are spawned from an idea or sometimes just a notion of independence people have whilst at work. Our aim is to greet you as an employee on the ‘ground floor’, take you up seven flights of stairs in giant leaps to the top floor. We hope that by then end of this book you’ll be ready to walk out on the day job and start your new career as a business owner.
Let’s be honest. Business is complex, challenging and not a career that suits everyone. Many new businesses fail because the owners simply do not think things through. We help you avoid the common pitfalls and increase your chance of success by giving you some structure around which to build your business, with an understanding of what it takes to build a real asset of lasting value.
It is advisable to read each step in the order presented. Each step builds on a continuum of ideas so you can break down the problems you face into manageable pieces. Take your time. Ensure you understand each step before moving on to the next one. Later you may find it necessary to revisit earlier steps as you refine your business, until it is complete.
Step One helps you find out if you have what it takes and facilitates the soul searching necessary to jump start your new career as a business owner. Step Two helps you navigate the sometimes difficult territory of deciding what your business should do. Step Three shows you how to turn your idea into a business - often the most difficult step for first-timers.
Steps Four, Five and Six help you understand the basic functions of any successful business namely marketing, finance and operations. These are each worthy of a book in themselves but we cut through the academic jargon, giving you just enough concepts to save you sliding into the abyss of failed start-ups.
Step Seven gently nudges you to give up your day job and helps you launch your new career by starting up. By now, you are in business and we help you to take control of your affairs and give life to your business as it takes on its own separate identity.
By the end of the seventh and final step you will be ready to complete the transition from employee to employer in just seven steps, although with hindsight it will seem more like seven giant leaps.
We leave you there in this introductory book but are available to steer you through the trials and tribulations of growing, managing and directing your business, which will continually test your resolve and challenge your skills as it matures.
If you enjoy this book but would appreciate more help, then please subscribe (it’s free) to www.biz-man.com and let the team accompany you on your onward journey.
If you don’t enjoy this book or you feel it could be improved in any way then we would be even more delighted to hear from you, after all, in business as in life, one learns only by making mistakes. To that end, this book is sprinkled with nuggets of ‘biz-wisdom’. These are tips that we have learned from our own mistakes and those of others.
About the Author
This book was written by the team at www.biz-man.com who provide uniquely pragmatic business coaching, problem solving and support for business owners.
www.biz-man.com is supported by a team of successful business owners, characterised by their plain spoken, no nonsense approach to business. They learnt by their own mistakes, in the real world, over several decades and have a passion for business and for helping others achieve the freedom of ‘going it alone’.
Step One - Do I Have What it Takes?
If you are reading this book then you are at the very least, inquisitive. You may have a business idea that you wish to test. You may have already started out on your own but have some trepidation. How can you know if you have what it takes to run your own business? This section helps you answer that question.
It is probable that you will have more chance of success if you have a certain disposition. There are a number of personal qualities that skew the outcome in your favour. The human condition is such that you can often overcome shortcomings if you are determined enough but determination alone is not sufficient.
As a guideline, you need:
Sufficient money to support you for at least a few months, preferably more,
a ‘Plan B’ in case things don’t go according to your original plan,
a very understanding family around you that will support you unconditionally,
good mental and physical health and general fitness,
as much business experience as possible,
a thorough understanding of the business and market sector you have chosen to operate in,
preferably significant experience in your chosen business sector,
a positive outlook, tenacity, determination, drive and ambition,
proven ability to multi-task under pressure and deliver,
attention