Many people, when they begin to develop their autonomy, are willing to quit their job and start a business. However, if this decision is not well thought out, the effect may be the opposite. You may end up becoming a prisoner of the effects of a careless move.
I left a trap to start my own company. It was a gradual process: I started testing the market, reduced my workload at work, and made adjustments until I totally let go.
Despite the natural perrengues of the process, I managed to get where I wanted. So I want to share with you four important tips to help you work your way more safely. I also want to make you a special invitation.
# 1 Test the market before
Before you go in and ask for the accounts in the company you work for, you must test the market. You can do this by working as a freelancer in free time.
This strategy will allow you to understand if there is demand for the services you offer. This will be your MVP – least feasible product. It’s like a demo of your future business.
Here you will use the baby steps technique. Instead of wanting to set up a giant business structure, you will gradually do it one step at a time. This will help you mature and understand your profile as an entrepreneur.
The challenge at the beginning of the process is to learn, change your behavioral patterns, and discover a universe of things you did not know you did not know.
By testing the market, you will also receive feedbacks that will help you improve your offer, and you will also be able to raise money that will serve as a safety mattress when you go to see yourself. This brings us to the second point.
# 2 Have a financial reserve
There are risks and instabilities in the market. Living, in general, is risky. Even as an employee, there are risks of sudden changes. So it is prudent that you have a reserve that will allow you to hold the ends for at least six months if you give some shit (I was such a shit that I tightened my belt and reduced costs to reserve max for 1 year).
In addition, it is important that you operate as lean as possible to optimize the use of money. So nothing to be megalomaniac and want to build a megacorporation in two months.
It should be remembered that, depending on the type of business you are going to open, you need to bring in starting capital. So the tip is, as far as possible, avoid jumping into the void.
Unnecessary debts of consumption are true killers of autonomy and well-being.
# 3 Forget the employee mindset
As I said in another article, most companies break because the owner does not see himself as a cost. He keeps that employee’s head and starts sucking the cash from the cashier.
In this sense, it is crucial that you seek to develop an entrepreneurial mindset. In addition to looking more carefully for management, it is also important to have a proactive stance and stop being a demand performer to become a problem solver.
You need to sell. Business that does not sell break. Here’s a reminder: the money is yours only when it’s in your pocket. The sale only ends when you get paid.
Best of all, if you’ve been careful to test the market before, it’s quite possible that you already have a portfolio of customers when you actually open your business.
In short, ending employee mindset means: a) separating the individual from the legal person, understanding and controlling their costs; b) have a proactive stance and be a problem solver; c) Ensure that you have money from customers coming into the box every month.
# 4 If it goes wrong, do not be ashamed to take a step back
Even if you take all the care of the world, shit happens – shit happens. Something you did not anticipate happened, an important customer gave you a default, you misjudged your reservation. In short, it is impossible to control and predict all variables
If things go too far, consider carefully and do not be ashamed to step back. If you are on the wrong track, continuing to walk will only make things worse.
Business can break without breaking the family. Many people start out in kamikaze mode, betting all the chips. This creates animal pressure in family and emotional relationships.
No one can tell you when and if it’s time to stop. You have to get to know yourself and look at your life to make the best possible decision. But remember: you will always have a second, third, fourth chance.
If the deal does not work out, the experience will have strengthened you to try better on up front.
In the last hacktalk, Alisson, who is a successful entrepreneur, said he opened five companies and only one survived to tell the story. Closing is not the end of the world, as long as you have the ability to learn from your mistakes.
Start without fear
If what I have said here made sense and you want to undertake it, you need to attend the “5 steps to overcome the fear of undertaking” workshop.
We’re joining a fucking galley to talk about various points of the opening day of a business. To participate, just leave your email in the list below. I’m sure you’ll enjoy it too much.