A few years ago I remember telling my mum:
‘I just want to work on my own thing and live abroad’.
Fast forward to now and I’m doing both of these things.
I have my own business and I get to work where I want in the world.
Proof that if you want something enough, you can make it happen.
Many people ask me what to do if they have an idea for a business but don’t know where to start.
After having an online services business (helping people improve their public speaking), a tech business (an app which I took to market) and now my Business School, ImagineThat (which helps corporate professionals start consulting independently online) I’ve learnt a few things along the way.
Here are five pieces of advice for anyone considering working for themselves.
1.If you can, begin it as a side-hustle
HelpMePresent, my online business that helped 500+ people and counting, began while I worked full time in my consulting days.
I’m so glad I started it then.
It meant I was OK to make mistakes, learn and experiment, because there was very little risk involved.
I validated my offer and won my first clients without having the pressure of income, initially.
My advice to anyone thinking of starting their own thing would be to start it as a side-hustle, test and get a couple of reviews first.
If you see potential, then you can go for it full time.
2. Think about your deeper why, not just your what
My public speaking business was about more than just being a better presenter, it was about helping people grow their confidence and excel in their corporate careers.
My start-up (an IRL dating app which we were featured in the press for) was about more than just dating, it was about fostering meaningful real-life connections.
If you start a business, no matter what it is in, you need to think about the wider impact and purpose you will create.
Think about your deeper “why” not just your “what”.
3. Take calculated risks and realise the time will never be quite right
I’m a big believer that we often regret the things we didn’t do rather than those we did.
Ask yourself - what have I got to lose?
For most people, the option to take a calculated risk will happen at least a few times in their life.
You can either take the opportunity while you can (knowing that there will never be the perfect time) or let it slide by.
Don’t let an opportunity to bet on yourself go to waste while you still have the chance.
4. Know it’s OK to do the same as someone else, but you have to be creative in how you stand-out
A lot of people are worried about whether there are others out there already offering the same thing.
There probably are. But that’s OK. It’s not as problematic as you may think.
In fact, it’s often very wise to take something that’s already being done (it shows demand) but do it better or with a different angle.
This is how many successful businesses have worked out - you don’t have to be the first to market. Think Grab vs Uber. Grab is also a car-hailing app and does food on demand, but it started after Uber was already out there.
What you do need, though, is a way to stand out and create a differentiated brand to your competitors.
If you are offering a professional services business, what is it about your background, story and experience that will make you stand out vs the other coaches or consultants out there?
5. Seek advice, mentors and role-models as much as you can
This is probably my biggest advice for anyone getting started.
Don’t do it alone - seek out mentors, coaches, advisors and role-models who can give you suggestions and highlight the gaps in your thinking.
This is a great way to improve and see your blind spots, absorbing the knowledge of others more experienced than you.
As a solopreneur, it’s key to speak to others and gain advice. Despite the name ‘solopreneur’ you shouldn’t go on the journey alone.
Closing thoughts
Starting your own thing is never easy.
It requires you to be OK with uncertainty and to truly enjoy the process, a ride that comes with highs and lows.
But get it right and you can start building a career and life on your own terms rather than always having to work under someone else and ask for permission to go on holiday or see the world.
If you want to start an online services business in particular, then feel free to connect with me on LinkedIn or Instagram to learn more or join the ImagineThat Academy.