Looking to Start Your Own Business?

Are you ready to dive into the entrepreneur pool and go out on your own? If you are waiting for your sign, this is it. Continue reading for my 3 tips to consider before starting your own business.

If you have a side gig you want to go full time with or if you've been thinking about going independent but aren't sure where to start, it can be an exciting to think about the possibilities, but intimidating to figure out how to actually get there.

As a serial entrepreneur, I know the ins and outs of going independent. I started Hoege Management Consulting in 2014, specializing in Change Management. From 2018-2021, I was a COO at a professional services organization. I relaunched and rebranded to Hoege Consulting & Coaching in 2021 and created/opened Waunakee Coworks in 2022 in one of our investment properties. I have a history of taking a business idea and bringing it to life. But it doesn't come without work, bravery, and risk. Learn from my mistakes before starting your own entrepreneurial journey with these three tips:

Tip #1 - Find Your Superpower

Sometimes we are too close to our own work to identify our own superpowers. Often, when things come easily to us, we don't realize those things are difficult for other people, so we don't even recognize it's a skill we have.

One way to uncover these superpowers is to think about when others have told you you're good at something. What was that? During reviews, in what areas did you exceed expectations or what have you done that others appreciated and valued? That's a good start to figuring out where you shine.

You can also think about what people come to you for. In what areas do people reach out to you for when looking for advice? People are coming to you because they recognize you're good at those things. That is your superpower!

Over time, you will be able to identify your natural talents, skills, and abilities. As you hone into your superpowers, you will discover what sets you apart. When you can distinguish what sets you apart, you can use that to build a successful business!

Tip #2 - Consider Safety Nets

While it's fun to get carried away in dreams and ambitions, it's important to still remember you're an adult with responsibilities. You'll never make the jump to entrepreneurship if you overthink every step along the way, but you also don't want to make the jump without a parachute. There are risks involved, but think about how you can mitigate those risks with some safety nets.

Will you need health insurance or does your spouse have that covered? Do you have an emergency fund saved up to ensure you're able to make ends meet? Can you get your first gig lined up before leaving your current job? Can you do a soft launch to build revenue, confidence, and referrals before making a full switch to the new opportunity ?

Make sure you set yourself up for success by considering ways you can safely transition into the exciting jump of becoming your own boss. But don't get caught up in every little detail. There will be uncertainty along the path of business ownership, so you'll have to get comfortable living in the unknown, but smart entrepreneurs identify and take advantage of the areas they can control to ensure success.

Tip #3 - Join a Community

Going out on your own can be scary stuff. Learn from those that have walked the path before you by surrounding yourself with people "who have been there and done that." They will give you the lessons they learned so you can learn from their experience.

"Spend time upfront to invest in systems and processes to make long-term growth sustainable." – Jeff Platt

At Waunakee Coworks, we have created a space where entrepreneurs can collaborate, build their business, and share their experiences. By surrounding yourself with like-minded individuals, you gain a real-time resource for the challenges you encounter as a new business owner. It's refreshing to have people you can relate to, brainstorm with, and find support from.

What are you waiting for?

Make the jump to start your business with the help of Waunakee Coworks!

Reach out to Waunakee Coworks today! Limited space available. Contact Jennifer at WauankeeCoworks.com or 608-206-6208 to schedule a showing.