Starting your own business is one of the scariest career moves you can make. Whether you’re putting together a multi-employee start-up or finally making the decision to leave your company and provide services on your own, the right timing is everything. Before making the decision to start your own business, it’s important to know exactly where you are and where you want to go. It’s also important to pay attention to simple signs that indicate when it’s time to take the plunge. Read on for some good indicators that is time to make that leap:
1. You have too many clients to handle.
No matter what you do now, if you’re interested in starting heading out on your own, then that probably means that you have struck up enough business in your current position to know that your services are desirable. If you have so many clients now that you would save time and still make about as much by starting your own business, then that is a good clue it might be time to go ahead and do it. Either way, a strong demand for your talents is a huge indication that you would see success working for yourself.
2. You are finding your current income less and less necessary.
Even if you’re making a great salary now, you are finding that your activities outside of work are starting to grow to a point where you feel much less dependent on your paycheck. This could be a sign that it’s time to start handling your own business. It takes everyone a bit of time to make the transition from working for someone else to being self-employed, but once the balance starts to tip in your favor, you may want to take advantage of that momentum and cash in on your own terms.
3. You feel like you are done learning in your current position.
You love what you do, but you have recently found that there is nothing left to conquer where you are now. Maybe you have ascended the ranks of your current company and now have no more room for in-company growth or you have finally realized that your boss will never be interested in making you a partner. If you feel that you cannot continue to grow and learn in your current position, then it is most definitely time to move on and begin a new stage in your career. Starting your own business is often the clear next step.
4. You have something to offer your industry that is completely unique.
You have been doing this long enough to know your industry inside and out. And, you are now realizing that you have a perspective on things that no one else has. You may also have ideas for businesses that do not exist in the current market. This is the perfect time to use your knowledge and capitalize on the potential to make your own mark on the industry and place a stake on profits that should be yours. If you know that you have something to offer than no one else has, there is no better reason to go out on your own.
Carol Wilson is a versatile guest blogger who primarily writes about global business trends and finance. She is a regular contributor to Businessinsurance.org and enjoys reading about politics and fashion in her free time. If you have any questions or comments for Carol, please send them to wilson.carol24@gmail.com.
