Running your own business is right now the chosen option for numerous people in the current financial climate as worthwhile jobs become more difficult to get hold of, nevertheless before you use your entire savings and invest it in your own olive oil business. What do you need to be aware of?
Having your own venture means you are no longer the individual who takes the commands (or shouldn't be); by all means be a first-rate boss pay attention to your workers (if you have any), pay attention to their opinions and reflect upon the information they give to you. Now it's your duty as the boss to order this data and put policy into action..."failing to plan is planning to fail."
This is finally it; you have made the jump and you're running your own business. This is the phase when you need to truly focus on what you want for your business and your way of life. Try to keep the two separated as much as possible...this can be really challenging for a lot of people in particular if you now work from home a lot. Keep in mind though the entire point of working for yourself was to better your life in it's entirety. Do Not let the new business be a heavy burden to carry...it's there to get you the rewards you have always wanted.
However the large bank balance helps!
For your own personal respect; think of the feeling you have compared to being in a unremarkable job or no job at all. It's a lot easy going to get out of the sack in a morning knowing you are constructing a business for yourself and your family unit; you're doing it for your boss - who you might not even like.
In actuality there are constantly a mix of features at work and no two distinct entrepreneur fit the same construct; in a considerable organization people become institutionalized however with your own venture you get to do stuff your own way and sway the staff you have (assuming you have any).
Not many people start their own business - most people do not have that "daring do". The question is do you have it? Are you motivated to do well in business as well as in life?