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Tomorrow’s Millionaire: Become Your Own Boss

Becoming your own boss can improve your chance of becoming a millionaire by unlocking unlimited earning potential. In fact, according to Forbes, 67% of the richest American billionaires are self-made entrepreneurs!

Owning a business isn’t for everyone – and it can be difficult to know what your first steps should be. Here are some tips to get you started:

  • Evaluate your skills and current life situation. Starting a business requires time, investment, and hard work. Take time to self-reflect – do you have the skills for business ownership? Do you have sufficient money to invest in your own business, or enough time to learn how to be your own boss?

  • Start with a side hustle. Quitting your job and starting a full-time business may feel like too big of a commitment at first. Try starting with a side hustle instead! Not only will you have a job to fall back on if things don’t work out, but the transition to full-time business owner will be smoother with that foundation.

  • Choose a type of business. There are tons of jobs that allow you to be your own boss. Consider what type of services you’d like to provide. Some options include:

    • Freelancing
    • Consulting or coaching
    • Selling a product

  • Identify a problem to solve. If you’re still struggling with your business model, think about problems you experience at home or in your community that you can help solve. For example, plumbers fix broken pipes and mechanics fix broken cars.

    If your goal is profitability, aim for fixing a larger problem.

  • Make a plan. Once you’ve determined you have the resources, skillset, and business idea you need, start getting ready for launch! Make a plan to:

    • Set up your work space
    • Create a website and logo
    • Purchase inventory
    • Advertise your brand
    • Start making a profit!