1. 3 Ways to Get Ready to Jump From Employee to Boss Are you sick and tired of people telling you what to do? Do you crave the high-risk high-reward world of the entrepreneur? If thats you, then you better know for sure that you are ready to make the leapbecause the road ahead is going to be hard. No, harder than that. Seriously, you might starve for a while until you make it. Like second semester of college starving. Then you can make it and watch allwell, someof your dreams come true.
2. So, how do you know if you are ready to graduate from employee to boss? Heres a simple, practical 3-question quiz. 1Can you embrace the fear The biggest fear you will face in building a business is NOT the fear of failure. Its the fear of the unknown. None of us know what we do not know, so we cannot prepare for it. What separates successes from failures in this regard is the willingness (not the ability) to face the unknown, adapt and overcome. Sometimes all at once. If you can do thatif you have proven you can do that, you may be ready for your name on the door. 2Eliminate your debt If you owe someone money, you can never be your own boss. They will be your boss until you no longer owe them money. But, wait, you say, loads of people start businesses on credit. Well, yes, they do. And, until they pay that credit off, they are working for the people who paid their way. The lesson here is simpleand very difficultif you want to be your own boss, get rid of your debt. ALL of your debt. 3Build a realistic marketing plan You have a product or service you love. Good for you. But what if nobody wants to buy it? Or, what if they want it but cant afford to pay you what you need to charge to make it? Well, then you get a bunch of big, empty buildings. Have you seen a Borders Booksellers lately? The cold
3. hard facts here are these: if you dont have a product or service that people want and you dont have a way to deliver that and make enough money to livethen you dont have a viable business idea. You have a hobby. What does any of this have to do with marketing? Because ROI is the bottom line in marketing. If you cant find a way to sell it for enough money, then you should not sell it. Build the plan first. Adjust as needed. In the end, even if you dont decide to make the leapyetyou will still come away with a better understanding of the market and your place in it. All applicable knowledge has power, so you must make yourself more valuable. Keep that up, and you will be ready to start your own business sooner than you think. Gennady Barsky is a real estate mogul with a background in entrepreneurship and business.