Lots of people dream of starting up and succeeding with their own companies. When you’re stuck in a nine-to-five, it can certainly seem like a happy escape from the dreaded boss. But all of us know just how hard it is to find that brilliant idea. And, of course, you need to find the time, the tenacity and the energy to get it off the ground and trading. There are many different ways that entrepreneurs get a new business going. Here are 3 of the best ways to start your new business:

Do What You Know

If you work for a retailer, it makes sense that you stick with what you know. Take the skills and knowledge you’ve acquired from your work and turn it into your own successful business. There are several reasons for this. First of all, you can approach investors and banks with many years of experience in your chosen market and industry. Secondly, you know how the market works, what business models are effective, and you know what it takes to succeed.

Of course, this may not suit everyone. If the reason you hate your job is that you hate the industry you work in, you’re not likely to want to keep working in it. But sometimes, all it takes is a visionary to change things. Why not be the one to make waves and shake things up a little. If you know it can be done bigger and better in a different way, give it a go.

Franchise

One of the easiest ways to enter into running a business is to utilize the support of a well-known brand. There are franchises available in many different industries. You can find fast food chains or even a senior care franchise option that may suit you. Franchise holders have marketing support, training support, and mentorship offered as part of the deal. But most importantly, you have the chance to build a business up in your region. You hire the right staff and target the right customers, and you could go far.

A franchise holder will quickly find out what it takes to be the manager or owner of a business. Having a big brand behind you means you don’t have to develop your own marketing strategy or plan. Often, the marketing materials are provided for you, saving you from printing costs or sourcing national media. And there is a certain prestige from being attached to a big organization.

Starting Small

Rather than quit your job, you may be able to start your business from home working in the evenings. This is especially true if you develop an online business. Maybe you can become a private teacher, or provide artwork for your local media company? Starting small gives you a chance to get better and find a few clients without having to worry about paying the rent on time. You can build your portfolio gradually until you’re ready to cut the ties to employment.

Starting your own business will always be a big challenge. There are lots of ways to get started. Which will you choose?