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Payza's Advice - Starting Your Own One-Person Business
Do you wanna run your own business, do you know how to start? have you ever dreamed about running your own business, do you know that most small businesses are run by people doing it as a side-project or a hobby, not as their primary source of income. Well, Payzaâs official blog has just published a new post which i thought it is very useful for you ĂŹ you are planning to run your own business, you may have all knowledge about your arena before to setting up your own business, but the scientific is no border and you may want to hear some advice, especially it is come from an popular payment processor, do you? if so, the lastest article which just published on Payzaâs blog could be a good source for you to collecting the knowledge before you start your own business. In this post, Payza has give out some advice in pre-planning to start your own business. If you dont have intend to run your own business at this time, this still could be a helpful for you later, in my oppinion, it a helpfull article for us.
Here is the advice from Payza:
Have you ever dreamed about running your own business? It sounds like a big risk, but what you might not realize is that most small businesses are run by people doing it as a side-project or a hobby, not as their primary source of income. So if youâre looking for a way to supplement your income, you might want to consider starting your own one-person business.
In the United States, one-person businesses account for three quarters of all registered businesses, but there are a lot of challenges in building a business from scratch. If youâre planning to try your hand at working for yourself, here is our advice:
Compose a concise business plan. You need more than just a specific skill set to start your own business; you also need a business plan that covers all of the specifics. Consider it the skeleton of your business giving structure to your skill set. If your business is viable and takes off, youâll need to know how to respond and organize yourself to keep the boom manageable, lest you lose control and watch your endeavours crash and burn. Always value organization and big picture thinking. Inc.com has a guide on how to write a business plan that will point you in the right direction.
Review your financial situation. Odds are youâll need some capital to start your business. If you can afford to start your business, go for it. If your finances are unstable, then you might want to reconsider your plan to go solo, or at least take strides to plan for a much slower start of your business. Remember that if you borrow money you canât afford to pay back, your personal assets will be at stake because you will be personally liable for all aspects of your business.
Work with your strengths. Donât go into a business you know nothing about. If youâre a star software developer, stick with that since itâs what youâre good at. Also, youâll get a better sense of satisfaction doing something you actually enjoy rather than something youâre just doing for the cash.
Be disciplined. If you are going to run your own business, youâll need to be on top of your workload and always be âonâ. This is not a time to slack off as you will have no one else to rely on to do your work.
Get some advisors. Just because youâll be embarking on a solo business venture does not mean that you have to go it alone. If you put together an arsenal of professionals who can offer you valuable business advice, youâll have an easier time getting your business off the ground. A good place to start is among friends and former colleagues and employers; LinkedIn is a great social networking tool to accomplish this. If you had a really good professor in university who seemed to know a lot about the business youâre interested in, now would be a good time to reconnect with them.
Use Payza to accept and make payments for your business. One headache you can avoid right away is figuring out how you will accept payment for your products and/or services and how you will pay your suppliers. Payza offers some really fantastic and useful features made specifically with the solopreneur in mind, such as our corporate disbursements feature to pay out, and the email invoice feature to request and accept payments. If you have an online retail shop, you can also use Payza payment buttons to accept instant and secure payments from your customers!
Make use of the tips offered above and all of the great online resources that will give you the information and support you need to get started, and good luck!
