Will a New Start-up Business be your New Year’s resolution?
With 2014 coming to a close and 2015 just around the corner, now is the time to start thinking about your New Year’s resolutions. How will your life look in 2015? What changes do you want to make? What are you going to do now to make sure you have your best year ever? Will you finally start the small business you have been dreaming of?
The Tradition of New Year’s Resolutions
The tradition of setting a New Year’s resolution comes from the psychological allure of starting a new year with a clean slate. Research shows that the two most common New Year’s resolutions every year are to lose weight and make more money. However, people are starting to realize that it isn’t enough to just “make more money”. We want more for our life than just a great income! What most people want in their life is joy, independence, autonomy and freedom from restraints. When we work on someone else’s schedule and for someone else, we feel tied down and restrained from achieving what we want in life. With your own home-based or small business you can achieve all of these things and create a fulfilled, balanced life with a decent income, while having more time to spend with those you love. Sound enticing?
Resolving to Start your New Business in 2015
People more than ever before are resolving to find a way to escape the stranglehold of a “boss” and get off the hamster wheel of the corporate world. Starting your own business can be the catalyst you need to generate an income while still enjoying the flexible lifestyle of business ownership, or a home-based business. Are you energized by this concept? Or maybe a little overwhelmed?
Consider these top five decision-making tips for starting your own business in 2015:
Choosing a course of action for your new business can be a difficult task, especially if you have a lot of ideas but just cannot make up your mind. Even if you have no idea about what business to start, you should consider these factors in your decision making process.
Follow your passion! What do you love to do? Do you have a hobby that can be turned into a business? If you follow your passions, you will be more enthusiastic about your business, and you will be determined to make sure your products or services meet the standards your clients expect.
What are you already good at? Your new business idea should be based on a skill that you are already good at. Are you good at relationship building or sales? Maybe you are an expert in a craft or trade? Consider starting your new business in your area of skill or expertise.
What product or service is in demand? What product or service market is currently under-served? Can you offer a unique service or a better product? Research your ideas online, among business associates or in your community to see what expanding need your business can fill.
Make sure you select a business that will allow you to maintain your current lifestyle. Keep in mind that your goal is more joy, independence and flexibility. For example, if you have a family and your evenings are filled with family activities and events, shy away from a small business that will demand your time in the evenings.
Consider your options and seek professional advice. Investigate the start-up capital needed to start your small business or bring your idea to fruition. You may want to even consider a franchise as a business model. Consult a professional for the tax advantages of a home-based business, small business grants, loans and help with a cash-flow projection.
Will this be the year you take the plunge and actually start that business you’ve been dreaming about? If you are someone who realizes that it isn’t enough to just “make more money” in 2015 and you want more out of life than just a great income, consider using these top five decision-making tips to develop your new business idea. Make a New Year’s resolution for 2015 to finally start that small business!