Have you ever dreamt of setting up your own business?
If you have considered this, then you are not alone. It was predicted in 2000 by a government research body that by the end of 2010, 1 in 3 of us within the UK working population will be running a business.
Have you wondered what it would take to be successful in setting up your own business?
Eighteen months of research in collaboration with Birkbeck, University of London showed that there are eight key factors that are important when setting up a business.
Successfully setting up your business
Here is a summary of these eight factors.
It is important for you to have a momentum for creating change in your work:
- Restlessness with the current situation - A desire to make change in your current work situation
- Passion for the work - A passion for the nature of business, that will win you support, business and propel you forward in your business
- Clear vision - A clear vision for the business and how this fits with your life
It is important for to have particular competencies:
- Self management - Knowing yourself and being able to manage yourself so that you are on top form every day
- Self confidence - Believing in yourself and your business proposition
- Personal drive - A drive to improve and being tenacious in times of difficulty
It is important to have some physical arrangements in place:
- Financial buoyancy - A positive financial situation to support your business set up
- Advice sources - A network of contacts, which can provide practical, emotional and technical advice, as well as providing a sounding board
How do you stack up against these eight factors? Is there anything else that you believe that it would take?
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