Work on the business
You know how to do the work you intend to offer. But do you have the appetite and skills to run and manage a business? Running a successful business requires juggling every aspect from accounting, admin and tax to sales, marketing and customer service.
Self-assessment
Consider these aspects of your experience and personality to check if you’re ready to be self-employed.
The more of these characteristics you have, the more comfortable you’re likely to feel about starting and running your own business.
- You thrive on challenges.
- You enjoy making, and being responsible for, your own decisions.
- You’re prepared to do training to develop the business skills you need – or to get input from specialist advisers.
- You’re willing to work long hours without the security of a steady income.
- You’re prepared to possibly accept a lower income until your business starts to make a profit.
- You can live off your savings, or an alternative income, during the start-up period.
- You have several years’ experience in the industry your new business will enter.
- When approaching tasks, you naturally look to streamline processes and methods.
- Your loved ones understand the impact starting a new business could have on them and support you unconditionally in your aim.
- You can take the risk of losing the money you invest in your business.
- You accept that you can’t do everything yourself. You’re prepared to hire staff and delegate responsibilities or use the services of a professional.
Ask other business owners
Talk to other people who have started their own businesses. Ask about the challenges of being self-employed and starting up. Reflect on whether it’s right for you.
Contact an ANZ Business Specialist
Our specialists understand your kind of business and the challenges you face as a business owner. We can help you figure out how to make your business grow and succeed.
Starting a business
There is a lot to think about when starting a business, this video runs you through some of the things you can start checking off to get yourself open for business.
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