Starting your own business can feel daunting. There’s a lot of uncertainty, questions, and risks involved.
But if you believe in yourself, it can be incredibly rewarding. It offers a level of freedom that a regular 9-5 job can’t provide.
I’ve always wanted to do something on my own. It could be a small side hustle; it didn’t have to be a big business. Even small projects gave me extra cash and a taste of independence.
For me, it all began at 16 when I started my photography business. Every time I started a new venture, I had to think about a few things:
Passion: Am I truly passionate about this business? Am I willing to put in the effort, regardless of the outcome? My passion for photography drove me to start my business at a young age. It was more than just a hobby; it was something I loved and wanted to pursue professionally.
Financial Position: I always aimed to start businesses that didn’t require a lot of initial capital. To start a business, you have to be in a position where you can support yourself for at least a year without relying on the business for income. Good financial planning is crucial. Before starting my photography business, I made sure I had enough savings to cover my expenses while getting it off the ground.
Support System: Starting a business can be lonely, so having a support system is vital. Whether it’s partnering with a childhood friend or involving family members, having people who believe in you can make all the difference. I was fortunate to have the support of my childhood friend when I started my photography business. Their encouragement and assistance made the journey much easier. Recently, before starting a Snowfruit franchise, I discussed with my brother and asked him if he wants to be my partner. Having him on board as my partner has provided invaluable support and strengthened our bond as siblings.
Willingness to take risks: While research is important, sometimes you just have to take a leap of faith. It’s easy to get stuck in analysis paralysis, but taking calculated risks is necessary for success. Despite not having much knowledge about the photography business or real estate investing, I took a chance and pursued my passions. It was a risk, but one that ultimately paid off.
Adaptability and perseverance: Flexibility and resilience are key traits for any entrepreneur. If something isn’t working, it’s important to pivot and try new strategies. Not every idea will be a winner, but perseverance is essential. I learned this firsthand when I had to adapt my business strategy to overcome challenges and setbacks.
Finally, if you’re passionate, willing to put in the effort, and have a strong support system, anyone can start their own business. It’s a challenging journey, but incredibly rewarding in the end.