From the course: Managing Your Career: Mid-Career

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Create your own opportunity

Create your own opportunity

From the course: Managing Your Career: Mid-Career

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Create your own opportunity

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- Starting your own business is one of the most powerful ways to take control of your career. It gives you the opportunity to pick projects that excite you, choose the hours you work, and align your work with your values but the challenge is deciding whether or not you're ready for this move. There's a big difference between wanting to create something and it being financially rewarding for you to do so. There are a few factors to consider. First, you must be financially ready to take the leap and have a tolerance for risk. Starting your own business requires investment for basic operations but also for you to live on while it scales. You need to be comfortable with the fact that you won't always have a steady income and recognize the need to reinvest, and save for droughts in business. You'll need to have the capital to run for about the first two years. Otherwise, you run into a higher risk of running out of money, which can lead to failure. Second, you must have a clear and…

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