In a constantly changing economic environment, more and more salespeople are aspiring to independence. The dynamic and buoyant sales sector offers many opportunities for those who want to become their own boss. But what does this transition to entrepreneurship really involve, and what are the stakes?
What does it mean to become your own boss?
Becoming your own boss in the commercial sector means choosing to set up and run your own business. There are several options open to you: as a self-employed professional, as a self-employed entrepreneur or as a company director. Being your own boss means taking responsibility for all aspects of business life, from sales prospecting to administrative management, not forgetting the overall strategy and long-term development of the company.
The advantages of being your own boss
A great deal of freedom
For many, this is one of the main advantages of entrepreneurship. As your own boss, you have total freedom to decide how you want to spend your time, choose the projects you want to implement and work in line with your values and vision. This autonomy gives you great flexibility in the way you organise your work and your personal life.
A professional and personal challenge
Becoming your own boss is a stimulating challenge that pushes you to constantly surpass yourself. It's a unique opportunity to put your skills to the test, discover new disciplines and take on a host of challenges. It's an experience that fosters both professional and personal development, with the immense satisfaction that comes from fulfilling your plans and ambitions.
The power to decide
As the boss, you are the pilot of your company. You have the power to make the decisions that shape the future, whether it's the company's commercial strategy, the investments to be made or a change of direction for your business. This responsibility is particularly rewarding, as it allows you to build your company according to your vision, your objectives and your values.
The risks of becoming your own boss
Major responsibilities
Being your own boss means taking on a host of responsibilities. On a day-to-day basis, you'll be called upon to manage administrative tasks, accounting, marketing and customer relations. While this can be stimulating for some, for others it can be demanding and even exhausting. In any case, you need to be extremely rigorous in your organisation and have a real ability to juggle different functions.
Maintaining a work-life balance
Striking the right balance between your professional and personal life can be complex when you're your own boss, especially when you're just starting out. The boundary between professional responsibilities and private life is sometimes difficult to respect, and it's not uncommon to work long hours, including at weekends and during holidays. You need to be aware that maintaining this balance requires rigorous discipline.
Managing failure
Entrepreneurship involves risks, and failure is an integral part of the entrepreneur's journey. Coping with adversity, bouncing back from setbacks and learning from mistakes are essential skills if you want to become your own boss. This capacity for resilience is crucial when it comes to overcoming difficult times, and is perfectly illustrated by the words of Nelson Mandela: ‘I never lose. Either I win or I learn’.
Coping with financial pressure
Managing a company's finances can be a source of stress. Income is by nature irregular, especially at the start of a business, and you need to be able to anticipate slack periods. What's more, it's you who will be managing the investments and costs associated with the business, which inevitably creates considerable financial pressure, which you need to know how to manage.
6 valuable tips before you start
Be well supported
Before you set up your business, and throughout your entrepreneurial career, it's important to be able to rely on qualified professionals who can advise you on the various decisions you'll have to make. Calling on the services of a chartered accountant, a lawyer, a peer in your field or even a coach can prove invaluable in providing you with insights into areas related to your core business.
Carry out a market study
Essential for assessing the feasibility of your project, carrying out in-depth market research is a key step before starting your business. You will need to analyse your competitive environment, identify priority targets and study market trends. This stage will enable you to refine your offer and position yourself strategically in your market from the outset.
Have a solid business model
Having a clear vision of your business model and defining as precisely as possible how your company will generate revenue: this is the objective of your business model. Determine your Unique Selling Proposition (USP), your main distribution channels, your strategic partners and your cost structure. A well-designed business model serves as a roadmap for the future development of your business. It is also an essential document if you need to raise finance to launch your business.
Be clear about your financing needs
Do you have the necessary funds to get your project off the ground, or will you need to call on outside finance? Assess your financing needs and study the options available to you. Financing a business can include your personal savings, bank loans, government grants or even crowdfunding. The aim is to ensure that you have a sound financial plan to cover your initial expenses and see your business through to profitability.
Creating a favourable environment
Isolation: this is one of the major risks for any entrepreneur. Make sure you surround yourself with people who support your project and can offer you a listening ear and advice. Don't hesitate to join professional networks in your sector of activity, take part in networking events, and seek support from experienced mentors. These steps are never a waste of time: creating a favourable environment can make all the difference to your success.
Cash flow
It's the sinews of war! Effective management of your cash flow is essential to ensure the long-term future of your business. You will need sufficient working capital to cover your expenses during the start-up period. Make realistic financial forecasts and monitor your cash flow so that you can anticipate any difficulties and, if necessary, manage them better.
Choosing the right legal form
Choosing the legal status of your business is a decision of the utmost importance, since it will have both tax and social security implications. Depending on the country in which you operate, carefully study the various options available to you: auto-entrepreneur, EURL, SARL, SAS, etc. and choose the one that best suits your situation and your objectives. To help you in this process, don't hesitate to consult a chartered accountant or lawyer, who will be able to guide you in your choice.
Conclusion
Becoming your own boss is a life project in its own right. It's an often exhilarating adventure, and a stimulating challenge both professionally and personally.
That said, it's a major undertaking that requires solid preparation and objective reflection on your abilities and objectives. If this challenge interests you, remember that the path to entrepreneurship is rarely linear: it requires perseverance, agility and a real desire to learn and evolve. The end result is an incredibly rewarding and enriching experience!
Are you a successful salesperson in the IT equipment and services or leasing sectors? Would you like to move up the sales ladder and become your own boss?
Econocom, the European leader in digital business transformation, is recruiting 100 sales agents across Europe.