To be fair, there are a ton of benefits associated with running your own small business or agency. You get:
- To set your own prices.
- Total control over your career and the direction of your business.
- Flexibility in terms of where, when, and how you work.
- Greater fulfillment working with clients you like, respect and can make a difference in the lives of.
But there are challenges, too.
For one, you’re the boss now, which means you’re responsible for making sure that everything runs as it needs to.
This goes beyond just successfully launching client websites. You have to make sure you’re making more money in your business than you’re spending on the business. You have to become really good at managing client relationships (and perhaps employee relationships, too). You also have to balance web design work with sales and marketing tasks.
Being the owner of a small web design shop is a lot of work. It costs money, too (as you’ll soon see).
Then there’s the fact that how you enter this opportunity can make or break the business.
For instance, let’s say you currently work full-time at a design agency, but your contract has a strict non-compete. When you leave, you might have to start your business with a new set of clients in a completely different niche. It’s going to take a lot of work to build your portfolio and reputation back up again if you have no previous work or contacts to leverage.
It’s not impossible, but it does make it harder.
Or let’s say that you’ve recently graduated from university. You have a pile of loans and expensive monthly bills that need to be paid now that you’re out in the real world. You’re having a hard time spending anything more than the bare minimum your business needs to get off the ground.
Without a healthy safety net of cash behind you as well as the time and funds to put into building your business today, it’s going to be difficult to ever get to a point where you generate a steady and predictable income from it.
Whatever your situation, just keep in mind that you won’t be able to launch this business tomorrow nor will it become an overnight success. It takes time, money and effort to get a business off the ground and, if you’re not in the right space to do that, you may want to postpone this until you’re ready.
For those of you who are feeling confident that this is the right move for you, read on…