A recent report by NAB reveals that over 4 in 10 (41%) Australians dream of starting their own business, while only 9% of the population is currently working for themselves. So why aren’t more of us turning this dream into a reality?
Fear of failure is one of the main obstacles holding back many would-be business owners. As when it comes to starting a business, there are unfortunately no ‘cookie-cut’ paths to success. For many, the thought of losing the countless hours and dollars invested into kicking off a new business venture can be paralysing. But, while there may not be one-size-fits-all fix for establishing a profitable business, sound advice and learning through other’s experiences can go a long way.
In this article we’d like to share with you some tips and tricks to give you the best opportunity to succeed at starting your own business, before investing so much as a dollar.
Start Your Business in an in-demand Industry
You don’t have to reinvent the wheel to succeed. Do your research and identify an industry or area, that you are interested in, and in which there is consistent forecasted industry growth.
Upskill
Make sure you currently possess &/or have a clear path in mind to obtain the skill set necessary to excel at your craft.
Failing to Plan is Planning to Fail
Make sure you’ve got a business plan that provides a clear path to achieving your goal
Manage Your Costs
Manage costs. That includes everything – from marketing, to equipment, to payroll. Ensure you’ve got adequate capital to start your business and manage cash flow to ensure it is sustainable for the long term
Understand the Every Venture Comes With a Level of Uncertainty
That said, be sure to mitigate your risk as much as possible, through proper planning and forecasting.
Put Adequate Support Structures in Place
Getting a new business off the ground is not easy. Having a support structure around you, in the shape of mentors, buying groups or otherwise can prove invaluable.
Life is too short to feel unrewarded and uninspired by your 9-5. While business ownership isn’t for everyone, if you want to feel the satisfaction and reap the rewards of building your own thriving business – now is the best time to start.
If fear of the unknown is holding you back, what if we were to tell you that by joining Jim’s Security, you could be your own boss and take control of your income and lifestyle with the backing of an already established and successful brand.
Still Unsure? See How Jim's Security Meets Our Above Advice:
In-demand Industry
Analysts through the Australian Security Industry Association Ltd. (ASIAL) forecast 3% annual industry growth between now and 2028. This is a huge opportunity for security professionals in an industry that already generates $11BN+ annual revenue.
Upskilling
Many of our security experts started in other walks of life. After completing an intensive on-boarding process, new franchisees will be licensed, certified, trained and ready to go out and start growing their business.
Business Plan
You’ll have the support and backing of operating strategies proven for success in Jim’s Security.
Managing Costs
Jim’s Security keeps start-up costs as low as possible. All marketing is taken care of with proven strategies, and access to Jim’s buying groups is provided to give franchisees access to highly competitive discounts on hardware.
Managing Uncertainty
Jim’s Security provides a ‘pay for work guarantee’ of $2k/week designed as a safety net to assist you while you’re getting started
Providing Support
All of our franchisees receive on-going support monthly strategy meetings, proactive calls with area managers and established franchisees. You will never feel alone in your business.
