With an Airtight Plan, a Great Service, and a Virtual Office, You Can Make a Big Splash
You have a vision. It’s not enough for you to go into an office every day to work on someone else’s terms. You want to call the shots, and better yet, you’ve got an idea, a product, or a service that you’re confident in. But before you look for an office rental and incorporate yourself, you should be sure that the time is right for you to start your own business. Here are a few signs that’s time to stop dreaming and start making it happen:
You Understand the Risks—and You’re Ready to Face Them
It’s a widely-publicised fact that nine out of ten start-ups don’t succeed. Even if you’re certain that you have what it takes to be the other one out of those ten, you need to be prepared for the possibility. This means you’ve looked at the risks, you’ve done your homework, and you have contingencies in place. Go into your new venture looking to win, but have a safety net in place too.
Your “Side Project” Is Ready to Take Flight
Many entrepreneurs begin laying the groundwork for their company while they’re still putting in time at a full or part-time job. This could include building a database of potential clients, looking into virtual office options, doing research, developing a product, outlining a strategy, and more. But eventually you’ll reach a point where you need to stop planning and start acting if you want to progress—and this is a sign that it’s time to start your business.
You Have a Stellar Product or Service
Wanting to be an entrepreneur is one thing—but a business relies on being able to provide something that people want and are willing to pay money for. Your product needs to be tangible, something for which there is a demand, and it needs a competitive edge: a reason why people would choose it over a similar product or service. Once you have this, you’re one step closer to starting your business.
You Have a Home Base
It’s one of the biggest dilemmas new entrepreneurs face: to base their business out of their home, or out of an office? On the one hand, an office can add a lot to your overheard costs, but on the other, it brings professionalism to your brand. If you’re not yet ready for a full-scale office rental, consider using a virtual office instead. This gives you services such as an office building address to list, a receptionist, and the ability to rent offices and meeting rooms on an hourly or daily basis for a fraction of the cost, allowing you the professionalism even in the early stages of your business. And if down the line you decide that office rental is for you, you already have connections through the virtual services you used.
This list is by no means exhaustive; starting your business is a huge undertaking and there are so many factors to consider. But if you’ve met these four criteria, then it’s certainly worthwhile to consider launching soon!
