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Some people choose to work for themselves because they want more freedom, to follow their passion, or to use their skills in a different way. Running your own business can be exciting and rewarding, but it also comes with challenges like long hours, financial risk, and managing everything on your own.
It’s important to ask yourself if you’re ready for the commitment and responsibility of working for yourself.
Before you start a business, it’s important to make sure your idea is solid. Not every idea is ready to become a business and that’s okay. This step is about testing your idea to see if it solves a real problem, has a potential customer base and could one day turn a profit.
You’ll want to ask whether it’s a hobby or a business, talk to potential customers (not just friends and family), and stay open to tweaking your idea based on feedback. It’s also important to think about the financial side: Could this idea sustain itself in the long run? Could the profit realistically bring in the income you want or need, especially if you’re hoping to replace a full-time salary?
To help, we’ve created a free online tool that guides you through a variety of questions to test your idea in more detail. Or, if you’d prefer to talk it through, you can book a free session with one of our business advisors. Validating your idea now can save you time, money, and stress later and help set up your business for success.
Business planning is about setting clear goals for your business and creating a roadmap to help you reach them.
It helps you stay organised, make better decisions, and adapt as your business grows or changes. Whether you're just starting out or looking to grow, having a plan in place increases your chances of success.
