How can I go on opening my own small business?

Question

Hi I live in Greece and have studied hotel management in UK. My MSc is on Organisational Change & Development. I work as a market development manager in a large convention centre and I should be described as an OK payed employee.

I don't feel happy though! I feel that I should take a chance and open something up. I am sick of making other people rich and still have to try hard as to prove and describe WHY I should be vallied from the company, and WHY I should be payed more, and WHY I am good enough to evolve more!

But habbit makes things complicated. When I picture my self starting a small business I fell panic and frustration as I always managed other people's money and took no risks. I KNOW I am gonna be good at running a small operation smoothly YET SOMETHING HOLDS ME BACK.

Any of you people out there had the same feelings?? How did you cope?? Did you take your chances and moved foreword?? How did it go??

Answer 1

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Answer 2

Been there, done that. I've been in software engineering for 15 years. Wanted a complete career change, wound up going into business for myself.

It takes guts. You're going to have to deal with the gnawing doubts and uncertainities that keep so many of us a prisoner of the salaried job for too long! ;) But if you have faith in yourself, ask yourself, "What is the worst thing that could happen?" Seriously. Imagine the absolute worst thing. Then make it a hundred times worse. And more if you can. Now ask yourself: "Can I handle that?" - both emotionally and financially!

If the answer is yes, then start preparing. Talk to people who've started their own business in the same kinds of area as you're interested in. Ask what the "gotchas" were, what surprises came up that they hadn't anticipated. What the worst of the fears were and how they dealt with those fears.

In the meantime, start setting aside money - you're going to have to buffer yourself when you start - there may be a few months with no business income, right? And have a backup plan: if it takes longer than expected, what will you do to survive? Can you take up temp jobs to bring in the cash? etc.

If at all possible, start the business while you still have a job. That way you have a cushion. Make sure you give your attention to the job while at work, and equally, make sure you focus on your business while you're doing that.

It's do-able. Only you can answer the question of whether or not YOU will do it! :)

Good luck,

FF