Head, Heart & Wallet – Setting up a business

There have been a lot of discussions and debate around the theme of self-employment. How and why do individuals become entrepreneurs or decide to go into self-employment or start their own business?

Obviously some people are forced into it as a result of redundancy or job losses in the current climate, however, others that have well paid secure jobs also decide to go it alone!

The latter group are the ones that really interest us – it’s a brave thing to do. But what is common amongst many of these individuals is what we call the “Tipping Point”. It’s that moment where the decision is made – it may have taken months if not years to get to this point. When individuals reach this point there becomes a disconnection with their current job and role and an emotional reconnection with the new world – this new world is often the pursuit of a deep lying passion to change the world with a new idea and business. It's like a eureka moment when the decision has been made and there is no turning back!

Our view is that the process of alignment takes place with head, heart and wallet:

  • Head - It all stacks up and I am satisfied with the research I have done
  • Heart - I am passionate about what I am doing and it feels right
  • Wallet - I can keep the wolf from the door and I have planned my personal finances

When these elements are aligned you are ready for action! It's when these three things are not working together that procrastination kicks in – you will know when it's right to go for it!

If you have an idea and you want to pursue it GO FOR IT – but before taking the plunge make sure that head, heart and wallet are aligned!

Blog written by Winning Pitch, who are a lead delivery partner for the Excelerator Consortium that manages the Business Wales Accelerated Growth Programme.

Details of the Programme can be found on the Accelerated Growth Programme website.

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