Starting anything new involves risk.
A new relationship.
A new job.
A new course of study.
A new brand of coffee (come on, we’ve all been disappointed when we switch from our favourite coffee and try something new.)
Taking the leap, accepting the risk inherent in setting up your own business for the first time can be exhilarating and incredibly stressful, once the novelty has worn off.
The risk factor exists in all businesses, in all industries.
It doesn’t matter if you provide products or services, there is a risk involved if you are in business and if anyone tells you something is ‘risk’ free, run a mile. Nothing is.
What to consider is how you minimise the risk involved.
For example, setting up a service based business on the side of your full-time job: i.e. nail technician or Mary Kay Independent Consultant.
Or only renting a premises on a short lease for your business, rather than committing to buying a place.
The risk is minimised, managed.
That’s why, in my own career, I found Mary Kay to be the perfect stepping stone to self-employment: the risk is minimal.
There is training.
There is support.
You set the goal posts on your earnings, your rewards and in turn the hours that you work.
It is the perfect business to start alongside your existing job.
Thus, the risk factor is drastically minimised.(And it is SO much fun.)
How do you plan on reducing the risk factor as you set up your own business?