Is 2025 the year when, after all, you take the plunge and start setting up your own business?You might be wondering if you’re in a position to start a business in 2025, but only you will know. I’m going to list some symptoms that you’re possibly in a position to start a business in 2025.
As we close out 2024 and look ahead to 2025, we see that this is an excellent year for new marketers, as technological advancements, the conversion of workforce trends, and more for small businesses dominate the business landscape.
When you have a strong desire to solve a problem or fill a gap in the market you can use that passion to fuel you. Reflect on what excites you and how it aligns with current market demands. When you find that offer it’s a sign that you are ready for action.
Starting a business requires some monetary stability or a plan to secure a highly desired investment for your business. You can start a cashless business or have a plan to get an investment. Regardless of how you decide to start your business, you want to make sure you are financially able to meet the challenge.
When you are tired of the traditional job and feel increasingly dissatisfied, it is a sign that you are ready to change. Imagine your ideal lifestyle and evaluate whether being a business owner is right for you.
Business readiness includes knowing your target audience and competition. Gather data to support and validate your business idea. When you have done your market research and have a good understanding of your ideal client and whether your business idea is viable, then you are on the right track.
Even an undeniable business plan is a plan. It does not have to be complex, but it defines your objectives, the strategy to achieve them and your monetary projections. It is vital to plan your first steps. When you have written a fundamental business plan that is feasible, you are close to being in a position to start a business.
Being an entrepreneur brings unavoidable risk, but the risk can be managed strategically. You need to have a plan to overcome setbacks and pivot when necessary. It’s important to be resilient when becoming a business owner. Assess your risk tolerance and build strategies to manage uncertainties.
Starting a business is simply about doing what you are passionate about. The truth is, you want to build a business that makes you money. Track profit drivers and some expansion as you embark on this journey. Build systems and ensure you are building a profitable business from day one.
The bottom line is that only you can truly know if you are ready to make that leap into entrepreneurship. There will be fear as it can be scary, but you can manage your fear, feel it, and take action. When you are ready to start a business, it will feel good – exciting, challenging, and rewarding. With preparation you will have a solid start to your business.
Melissa Houston, CPA is the founder of Fractional CFO Agency, Cash Confident: An Entrepreneur’s Guide to Building a Profitable Business, and the founder of She Means Profit. As a business strategist for small business owners, Melissa helps transitioning mid-career women unlock their dream business and also guides established business owners to grow their business more profitably.
The opinions expressed in this article are not intended to replace any professional or expert accounting and/or tax advice whatsoever.
Melissa Houston, CPA covers business and personal finance impacting women entrepreneurs.
With her CPA designation and more than 20 years of practical experience, Houston is widely known for her financial management expertise. Houston has been sharing her wisdom and experience with Forbes. com readers since August 2020.
Houston works with female tech founders as Fractional CFO of the agency Fractional CFO, which she founded.
Houston is the foreign salesman for Cash Confident: An Entrepreneur’s Guide to Building a Profitable Business, founder of She Means Profit, foreign speaker, and covers small business finances. Houston has worked with many small business owners to help them increase their profits and make more money in their businesses.
Follow Houston for all the money issues affecting small businesses today.
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