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Starting a business: How do you know you're ready?

  Ensuring a Small Business It seems that many people have a shelter today, a way to make some extra money or drive the things that really hit their interests. And lots of people have even made their most unusual hobbies, dreams and ideas into full-time careers. So how do you know if you will succeed in making the leap from employee to entrepreneur? Here are some things you may want to clear the list before giving you two weeks notice.

You are ready to be your own boss:

Transition from having an employer to be your own boss means that you lose structure and expectations that help you to be productive and responsible. Be honest about your own work ethics, organizational skills and discipline level. How self-motivated are you? Will you be able to go up and work, even if you don't feel like it?

You have savings:

Make sure you have at least six months of savings (the more the better) before saying goodbye to a steady income. Give some serious thought to how you should pay the bills if your new company does not succeed directly or at all.

You can go back:

Depending on the type of work you do, it may be easy for you to find employment or pick up jobs at short notice. But if you come back to your previous job or work method it would be relatively easy, it may not be so risky that you continue your good idea for a while, just to see what happens.

You are ready to sacrifice:

Begin by starting your own business can mean that you adapt your lifestyle, work more than full time or perform tasks you really do not like until you can hire an employee. If all of this still sounds better than your day job, you might be ready to pull out the plug.

You can't follow the demand:

A high demand for your service or product can be a strong indicator of your potential success. If your "side" project slowly takes over your life, it's a good sign.

You have support:

If your spouse, friends and family say "go for it", note. It does not necessarily mean that you are bound to success, but in any case it means there is potential. Moreover, with a support system it means that someone will pick you up and help you come back if your things do not go as planned.

You're not the only breadwinner:

Having a spouse or family member who can help you support you in running your new business can minimize financial risk and make your decision a little easier. But do not take this kind of generosity for granted: have an honest conversation about what is reasonable, and stick to your end to the purchase.

You can't take it anymore:

This is an indicator that can at least partially drum the rest. If you do not have absolutely everything in place to end your daily job, then it is safe, but your intuition says it is time, you may want to pay attention. We do not suggest that you make a sloppy decision, but if you are completely unhappy in your "real" job, it may be time to really find out if you can make your dream a reality.

For any business insurance issues, call or contact Keller-Brown Insurance Services today.

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