BE YOUR OWN BOSS… THE ROAD TO SELF EMPLOYMENT
By DAVID DAY
So you want to start your own business. You want to be your own boss.
Self-Employment is the fastest growing area of employment in North America. Every day thousands of people start their own business. In this series we explore the steps that you must take in order to succeed in self employment.
Last time we looked at Step two: EVALUATE YOUR BUSINESS IDEA. A good idea is simply not enough. Do your research. Identify your target market. Study your competition. This knowledge is power. It enables you to make informed decisions and making informed decisions will radically increase your chance of success.
Step three: EVALUATING YOUR SKILLS. Ask yourself; what knowledge, skill or experience do I have that is directly relevant to my business idea? This knowledge, skill or experience does not have to be from a past job or does not have to be formal training. Often those people taking a hobby or a personal interest and turning it into a business are quite successful. Your knowledge, skill or experience can be in business areas such as sales, marketing, bookkeeping, inventory control, customer service, management etc. and not specifically related to your business idea.
Take out a piece of paper and draw a line down the middle of the page; On the left side write down all of the things that you are good at and the things that you like doing. On the right side write down all of the things that you are not good at and do not like doing. This is called a gap analysis. What you are doing is identifying your strengths and weaknesses. This will only work if you are brutally honest with yourself. Now focus your attention on your weaknesses. Write down each one of them separately and then write down a way to deal with this weakness. Perhaps some training or study or outside help will do the trick. Remember you do not need to do everything yourself. When you are self employed you may be in business for yourself but you are not in business by yourself. There is help out there, seek it out! Asking for help is not a weakness it is strength. Most successful entrepreneurs play to their strengths and get help in the areas in which they are weak. Once you have truly evaluated your knowledge, skill and experience as well as identified your strengths and weaknesses you can move ahead with confidence. You will be able to overcome self doubt and bypass resistance. This process of self evaluation will make it clear to you whether or not you currently possess the personal tools necessary to follow the road to self employment or whether you need to further develop these tools before you start this journey.
Next time, Step four: FUNDING BUSINESS START UP.
David Day B.A., B. Ed. M.A.,
Senior Partner, BDC and Associates
David has over 30 years of self-employment and senior management experience, in both the private and public sectors. In addition to his extensive business experience David is also a professional adult educator and much sought after speaker.
As Senior Partner of BDC and Associates and Business Advisor for SEEDS, he is responsible for strategic planning, administration, human resources and service delivery.
David has been recognized as, the Man of the Year by the Canadian Association of Japanese Auto Dealers, the Man of the Year by the Professional Marketing Association, the Speaker of the Year by the Success Motivation Institute and has received the prestigious BC Small Business Entrepreneur of the Year Award.
David is also a Business Advisor with SEEDS the Self Employment and Entrepreneur Development Society. SEEDS is a non-profit organization funded by Human Resources and Skills Development Canada dedicated to support the development of entrepreneurs and the growth of businesses in our communities. Clients of SEEDS receive training, business plan development, on-going support and financial assistance. For more information contact SEEDS at (604) 590-4144 or attend a SEEDS information session held every Thursday at 1:30 at Suite 104-7565-132nd. Street, Surrey, BC, V3W 1K5
